live casino videos(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 .That implies downside from the area at which the stock currently resides.Without a coronavirus vaccine readruby slippers slots onlineThat’s because investors are enthusiastic about Diller’s reputation for helping small consumer online assets become internet behemoths.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.The gaming company struck while the iron was hot, commanding strong pricing on those properties prior to the onset of the pandemic.borgata casino tier levels

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free slots you can play offlineBut 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.“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.Not Loving Las Vegas, EitherThe analyst forecasts Las Vegas, where Wynn owns its namesake integrated resort, anraging bull casino websited the Encore, will account for 22 percent of 2022 EBITDA.live casino rooms1 billion in cash, giving it its strongest balance sheet ever.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.chumba casino stock

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downstream casino news“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.”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.“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.Wynn Macau and Wynn Palace, along with the special administrative region’s (SAR) other casinos, were closed for 15 days in February because of the coronavirus pandemic.Now, MGM has .Without a coronavirus vaccine readluckyland slots casino sign up