caesar casino in ohioBetMGM is a joint venture with GVC Holdings, meaning MGM has to share the economics with its UK-based partner.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.“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.who owns wild horse pab casinoBain added that Wynn has less exposure to the Cotai Strip than rivals Las Vegas Sands (NYSE:LVS) and Melco Resorts & Entertainment (NASDAQ:MLCO), a relevant point because border expansions and new capacity could drive traffic to that area of Macau.Additionally, the business will generate just 0 million in revenue this year, with profitability three years away, according to the Roth analyst.The Wynn Macau is pictured above.twin river casino karaoke

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how to get free money on chumba casinoBut there are issues, there, too.But 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.But its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.turtle lake casino restaurant“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.“To be clear, we believe IAC ownership is a positive for MGM.“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.no deposit bonus casino malaysia

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roulette royale casino mod apk”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.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.The 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.“To be clear, we believe IAC ownership is a positive for MGM.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 slot games play now