kings slot machine casino“To be clear, we believe IAC ownership is a positive for MGM.Raining on the ParadeIAC getting involved with MGM is much more about the gaming company’s online casinos and BetMGM units than it is about land-based integrated resorts.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.riverwind casino and hotelWithout a coronavirus vaccine readThe Wynn Macau is pictured above.The gaming company struck while the iron was hot, commanding strong pricing on those properties prior to the onset of the pandemic.casino l auberge baton rouge

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call harrah s cherokee casino in north carolinaNo Real Estate, More VolatilityLast year, MGM sold Bellagio and Circus Circus, and the real estate liquidation theme continued into January, as the operator parted with MGM Grand and Mandalay Bay on the Strip.Risky BusinessBy Bain’s estimate, Wynn derives 68 percent of its earnings before interest, taxes, depreciation and amortization (EBITDA) from the world’s largest gaming center, adjusting for its ownership stake in Wynn Macau.That’s fine in a normal operating environment, and it’s exposure that’s served Wynn investors well over the years.is it safe to go to hotels during covid 19Only recently have there been most signs of a pickup in visits.That implies downside from the area at which the stock currently resides.The Wynn Macau is pictured above.palace station casino resort las vegas

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golden nugget casino newsBain added that Wynn has less exposure to the Cotai Strip than rivals Las Vegas Sands (NYSE:LVS) and Melco Resorts & Entertainment (NASDAQ:MLCO), a relevant point because border expansions and new capacity could drive traffic to that area of Macau.Last month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.The analyst points out that a VIP-led recovery in Macau may not materialize to the extent market observers previously believed, and that could weigh on Wynn equity.But Bain sees risks by way of a lack of liquidity among high-end players, new room supply coming to market, and a dearth of Hong Kong dollars flowing into the gaming hub because travel remains limited between the two SARs.(Image: Getty Images)In a note to clients today, Bain lowered his rating on the Encore operator to “neutral” from “buy,” while trimming his price target to .Raining on the ParadeIAC getting involved with MGM is much more about the gaming company’s online casinos and BetMGM units than it is about land-based integrated resorts.tucson az desert diamond casino