no deposit bonus casino gamesSome investors like Wynn stock due to Asia-Pacific exposure.(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 .But 2020 is far from the usual climate for gaming companies.casino 04But 2020 is far from the usual climate for gaming companies.An analyst downgraded Wynn’s stock today, citing exposure to that market and weakness in Las Vegas.The Wynn Macau is pictured above.online casino using bitcoin

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closest airport to winstar world 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.“We believe certain operators are structurally better positioned from the more visible, long-term dynamic Macau island view casino webcamgaming market than Wynn.That’s because investors are enthusiastic about Diller’s reputation for helping small consumer online assets become internet behemoths.peppermill casino dealsThat implies downside from the area at which the stock currently resides.“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.The Wynn Macau is pictured above.star casino gold coast units for sale

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sam s town online casinoOnly recently have there been most signs of a pickup in visits.Bain 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.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.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 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.“We believe certain operators are structurally better positioned from the more visible, long-term dynamic Macau island view casino webcamgaming market than Wynn.black bear casino music