mohegan sun casino bus from nycBetMGM is a joint venture with GVC Holdings, meaning MGM has to share the economics with its UK-based partner.(Image: Ethan Miller/Getty Images)In a note to clients today, Roth Capital analyst David Bain lowered his rating on the Bellagio operator to “neutral” from “buy,” while paring his price forecast on the stock to , implying significant downside from the area at which it currently trades.That’s because investors are enthusiastic about Diller’s reputation for helping small consumer online assets become internet behemoths.ruby slots sign upNo 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.It’s been a week of downgrades for MGM Resorts International (NYSE: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.tachi palace casino fireworks 2021

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sunset station casino henderson nevadaMGM Grand on the Las Vegas Strip.org.“To be clear, we believe IAC ownership is a positive for MGM.coushatta casino openBut 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.But Bain argues Diller’s company may have paid too much for the privilege.That implies downside from the area at which the stock currently resides.a casino roulette wheel

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slotland casinoThe 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.Soft air travel, group/event comproulette casino onlineression, low pricing power and high fixed costs, including rent payments,” are among the issues highlighted by Bain.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.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.That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.“4Q/1Q marks convention season, which is essentially non-existent, leaving MGM’s portfolio dependent on California leisure traffic.hard rock casino halloween 2021