the twin river casino(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.Raining on the ParadeIAC getting involved with MGM is much more about the gaming company’s online casinos and BetMGM units than it is about land-based integrated resorts.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.san manuel online slotsBetMGM is a joint venture with GVC Holdings, meaning MGM has to share the economics with its UK-based partner.1 billion in cash, giving it its strongest balance sheet ever.“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.thunder valley casino hotel

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t rex free slotsBut 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.It’s been a week of downgrades for MGM Resorts International (NYSE:MGM).But its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.valley forge casino facebookThat helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.“We believe certain operators are structurally better poBetMGM is a joint venture with GVC Holdings, meaning MGM has to share the economics with its UK-based partner.online slots real money low deposit

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