table games casino calgary1 billion in cash, giving it its strongest balance sheet ever.That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.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.online slots real money canadaAdditionally, the business will generate just 0 million in revenue this year, with profitability three years away, according to the Roth analyst.An analyst downgraded Wynn’s stock today, citing exposure to that market and weakness in Las Vegas.But 2020 is far from the usual climate for gaming companies.poker at casinos

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live casino 2020But Bain argues Diller’s company may have paid too much for the privileglake tahoe casinos mgme.Some investors like Wynn stock due to Asia-Pacific exposure.No 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.hollywood casino c”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.The gaming company struck while the iron was hot, commanding strong pricing on those properties prior to the onset of the pandemic.But there are issues, there, too.angel of the winds casino reopening date

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wild horse pab casino hotel discount codeOnly recently have there been most signs of a pickup in visits.(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 .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.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.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.“The cyclical, competitive, capital-intensive nature of the Strip combines with a basket of well-known macro/specific travel and Las Vegas negatives, seemingly dismissed by investors since IAC took a 12 percent stake in MGM,” said the analyst.pechanga casino lost and found