online gambling slotsNot Loving Las Vegas, EitherThe analyst forecasts Las Vegas, where Wynn owns its namesake integrated resort, anlake tahoe casinos mgmd the Encore, will account for 22 percent of 2022 EBITDA.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.oyment, owing to the COVID-19 pandemic.morongo casino ownerBut there are issues, there, too.“We believe certain operators are structurally better positioned from the more visible, long-term dynamic Macau lake tahoe casinos mgmgaming market than Wynn.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.seneca niagara casino outdoor concert venue

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2 casinos in texasBut 2020 is far from the usual climate for gaming companies.An analyst downgraded Wynn’s stock today, citing exposure to that market and weakness in Las Vegas.Bain 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.jamul casino rooftopAn analyst downgraded Wynn’s stock today, citing exposure to that market and weakness in Las Vegas.”Risks mentioned by the Roth analyst include ongoing geopolitical volatility between the US and China, and concession renewal risk for US operators in Macau, among others.That implies downside from the area at which the stock currently resides.sunset station casino buffet

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call boomtown casinooyment, owing to the COVID-19 pandemic.That implies downside from the area at which the stock currently resides.That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.Shares of Wynn Resorts (NASDAQ:WYNN) are lower by more than two percent Wednesday after Roth Capital analyst David Bain downgraded the gaming operator, citing, among other factors, risk in the marquee Macau market.Last month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.“Given the lack of domestic/international travel, lack of near/intermediate-term group and business events, the beginning of a long Las Vegas recovery is currently levered to California leisure traffic, which offers little visibility/reason for investor enthusiasm,” said Bain.seneca niagara casino food