hard rock casino lake tahoe open(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 .The Wynn Macau is pictured above.“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.island view casino fireworksThe Wynn Macau is pictured above.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.Now, MGM has .888 poker casino mix up

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treasure island hotel and casino ownerNow, MGM has .That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.”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.hollywood casino poker room1 billion in cash, giving it its strongest balance sheet ever.The Wynn Macau is pictured above.That’s fine in a normal operating environment, and it’s exposure that’s served Wynn investors well over the years.casino extreme no deposit bonus codes today

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poker face casinoBut 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.That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.That implies downside from the area at which the stock currently resides.The gaming company struck while the iron was hot, commanding strong pricing on those properties prior to the onset of the pandemic.Now, MGM has .“While structural elements for visitation improvements are advancing, we believe a VIP-led recovery will be less broad-based than many anticipate and carry specific risks,” said Bain.sycuan casino resort las vegas