n gage win casino no deposit bonusBut 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 implies downside from the area at which the stock currently resides.”With convention traffic all but non-existent and leisure travelers from other regions unwilling to fly to Nevada, the Roth analyst points to Sin City’s dependence on the Golden State as a major near-term vulnerability because California’s own economy is struggling and is home to steep unemployment, owing to the COVID-19 pandemic.river spirit casino valetThat’s because investors are enthusiastic about Diller’s reputation for helping small consumer online assets become internet behemoths.“To be clear, we believe IAC ownership is a positive for MGM.Too much dependence on its home market is a potential drag on MGM stock at a time when Las Vegas is still grappling with the effects of the coronavirus pandemic.royal ace casino login

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no deposit bonus 888 casinoThat implies downside from the area at which the stock currently resides.An analyst is concerned about the operator’s exposure to its home city.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.bally s casino slot machineBut Bain argues Diller’s company may have paid too much for the privilege.MGM is the largest operator on the Strip, deriving half its 2019 earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) from that market, according to Bain.Additionally, the business will generate just 0 million in revenue this year, with profitability three years away, according to the Roth analyst.casino virginia beach

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how to win 88 fortunes slot machine(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.Last month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.MGM is the largest operator on the Strip, deriving half its 2019 earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) from that market, according to Bain.An analyst is concerned about the operator’s exposure to its home city.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.The stock suffered its second lower revision in three days Wednesday, with the Las Vegas Strip looking like the primary culprit.mgm grand casino las vegas