golden nugget casino chips in the Lake Charles area were damaged in the Category 4 hurricane.But Bain is concerned that the lack of real estate levers to pull means the operator is too levered to Las Vegas, and investors may be overlooking that risk.It’s been a week of downgrades for MGM Resorts International (NYSE:MGM).free slot games lightningBetMGM is a joint venture with GVC Holdings, meaning MGM has to share the economics with its UK-based partner.“To be clear, we believe IAC ownership is a positive for MGM.But Bain is concerned that the lack of real estate levers to pull means the operator is too levered to Las Vegas, and investors may be overlooking that risk.hard rock casino fire mountain

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winstar world casino check in timeBut its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.MGM Grand on the Las Vegas Strip.The boat is not taking on water and is safe, he told Casino.mountaineer casino covid updateLast month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.1 billion in cash, giving it its strongest balance sheet ever.“4Q/1Q marks convention season, which is essentially non-existent, leaving MGM’s portfolio dependent on California leisure traffic.poker casino jeux

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sam s town casino poker roomToo much dependence on its home market is a potential drag on MGM stock at a time when Las Vegas is still grappling with the effects of the coronavirus pandemic.But Bain is concerned that the lack of real estate levers to pull means the operator is too levered to Las Vegas, and investors may be overlooking that risk.The Wynn Macau is pictured above.BetMGM is a joint venture with GVC Holdings, meaning MGM has to share the economics with its UK-based partner.”With convention traffic all but non-existent and leisure travelers from other regions unwilling to fly to Nevada, the Roth analyst points to Sin City’s dependence on the Golden State as a major near-term vulnerability because California’s own economy is struggling and is home to steep unemployment, owing to the COVID-19 pandemic.That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.oxford casino hotel deals