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We will update the story should they comment. Shares of Wynn Resorts (NASDAQ:WYNN) are lower by four percent in midday trading Tuesday. the live casino philadelphia That’s after Goldman Sachs lowered its rating on the gaming company to “neutral” from “buy,” while removing the stock from its prestigious Conviction Buy List. cashman casino server down paragon casino bus trips from houston Wynn Palace in Macau. Goldman Sachs downgraded the stock today, citing weakness in the VIP segment. Sycuan Casino Las Vegas Vldu (Image: CNBC)Predictably, Goldman cites Macau as one of the primary reasons for its downgrade of Wynn. seven feathers casino employment Online Gambling In Nj Vexr Netherlands The Chinese territory is the operator’s largest market and, in a normal operating environment, accounts for two-thirds or more of the firm’s revenue in any given quarter. Wynn (parent company) holds outsized exposure to Wynn Macau, and after revising our forecasts to embed softer VIP in 2021, we find limited upside, given the stock’s recent run,” said Goldman analyst Stephen Grambling in a note to clients.

Key Insights and Expert Analysis

Last month, Wynn stock jumped 21 percent while the S&P 500 climbed six percent. free casino slots heart of vegas Much of the August bullishness in shares of Macau mgm casino ohiooperators was derived from positive news on the travel front. In the middle of the month, the city of Zhuhai in Guangdong province started reissuing tourist visas, followed by the rest of the region on Aug. hollywood casino grantville entertainment free slot games for iphone 6 26. seneca niagara casino gift card VIP CommentaryGoldman isn’t enthusiastic about the state of Macau’s VIP market. hollywood casino amphitheatre sep 30 The concern is relevant regarding Wynn because the operator is one of the concessionaires in the special administrative region (SAR) most dependent on a higher-end clientele. harrah s cherokee casino alabama As such, we downgrade WYNN to Neutral from Buy and remove it from our Conviction List, with a 12-month target price of (vs prior),” writes Grambling. However, there are some signs of improvement that could benefit Wynn.

Data points indicate the September contraction in Macau gross gaming revenue (GGR) should be less severe than what was seen in the previous five months, and that the fair start to this month for concessionaires there is being propelled by the premium mass and VIP segments. free slots quick hit platinum There’s also evidence that visits to the gaming center are starting to pick up, albeit modestly. Last weekend, arrivals totaled 13,000 and 9,700, respectively on Saturday and Sunday, compared with 10,500 and 9,500 during the last weekend of August. free online slots machine games no downloads Waiting on MoreFor Macau operators, including Wynn, the near-term outlook boils down to a waiting game. Free Slots With Bonus And Free Spins Sndp That is, waiting for the impact of individual visit scheme (IVS) visa reissuance to take hold. Guangdong, the mainland province closest to the gaming hub, is jmgm casino ohioust two weeks into granting IVS permits again, and it’s taking a week to 10 days to get those passes into the hands of tourists. In other words, it’s going to take some time for Wynn and its rivals to see the benefits of looser travel policy on top and bottom lines. Assuming no flare-ups of coronavirus cases, the rest of China will resume issuing IVS visas on Sept. Legends Of Poker Bicycle Casino 2019 Pdni

23, meaning it will be October before Wynn and its counterparts get a lift from that policy. For Macau operators, the tenth month of the year will be pivotal, because the first week includes Golden Week. The festival will have a profound effect on concessionaires’ fourth-quarter rebound aspirations. morongo casino theater is mohegan sun casino open today Shares of Penn National Gaming (NASDAQ: PENN) are standing out after the company said it’s close to rolling out the Barstool Sportsbook betting application