little river casino tribe(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 gaming company struck while the iron was hot, commanding strong pricing on those properties prior to the onset of the pandemic.Now, MGM has .seminole casino florida tampaShares 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.But 2020 is far from the usual climate for gaming companies.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.free casino type slots

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chinook winds casino hotels”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.Last month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.“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.bicycle casino texas holdem“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.Without a coronavirus vaccine read“To be clear, we believe IAC ownership is a positive for MGM.seven feathers casino arcade

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vegas slots doubledown casino“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.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.Some investors like Wynn stock due to Asia-Pacific exposure.“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.Last month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.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.twin river casino providence