borgata casino matchThe loss highlights Wall Street’s concerns regarding the recovery trajectory for Las Vegas.MGM CEO Bill Hornbuckle, seen here at a 2018 Las Vegas Stadium Authority meeting, faces challenges in Sin City.Firslas atlantis casino codes 2020t, business travel, which is vital for propping up weekday occupancy rates on the Strip, has ground to a halt because of the coronavirus pandemic.mgm grand casino buffetCall it a Comeback During the early weeks of COVID-19, when Maryland closed nonessential businesses, Medenica says lottery sales suffered.In a note to clients today, Stifel analyst Steven Wieczynsk said that “the company’s fortunes are directly tied to demand trends and sentiment along the Las Vegas Strip.”Since early June, the bulk of MGM’s Strip properties came back online, with the Mirage and Park MGM being the exceptions.online casino ct

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resorts casino queens hotelHowever, since early May, sales have actually increased compared to the same periods in 2019.With the operating environment far from normal, MGM is finding ways to lower costs.Sales tumbled nearly 30 percent in the week ending March 29.mgm casino ctOn the conference call, CEO Bill Hornbuckle said those venues are taking reservations for Aug.And by June, we’re up 20 percent.“We believe there are cleaner ways to invest in themes across the broader gaming realm that do not require an investor to absorb the same level of risk related to the Strip’s recovery trajectory,” said Wieczynski.morongo casino upcoming events

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blackjack how to play casinoWieczynski has a “hold” rating on the stock, and he pared his price target on the name to from .We may have gone to the golden goose on the jackpot games,” Medenica stated.Although Las Vegas is challenged, MGM said all of its properties that are back online are cash flow positive since the reopening, with Mandalay Bay being the exception.”Another area that is remarkable — albeit in a negative fashion — are sales from Mega Millions and Powerball, the national, multi-state draw games that come with the headline-grabbing jackpots.“Additionally, as with most of its domestic gaming peers, MGM continues to identify ways to remove costs from the business to enhance margins, even as the top-line remains impaired.“On the national jackpot games, last year those games were off 40 to 50 percent from the all-time record year the year before.the clearwater casino