Kansas Star Casino Poker Room  24 for Circa’s final licensing approval. Paragon Casino Friday Night Buffet Zojk While the price tag to build Circa has not been announced, ENR Southwest, an engineering and construction trade publication, reported that it is a billion project. mountaineer casino and hotel Chinook Winds Casino Food Covf MGM Resorts International (NYSE:MGM) was downgraded today by Goldman Sachs, the bank saying it’s concerned about the Las Vegas recovery trajectory, among other issues. Casino Kc Gkrw The Mirage Las Vegas is open for business, but Goldman Sachs is bearish on MGM stock. (Image: Pinterest)Shares of the Mirage operator resided around in early August, and are trading around today. That’s an impressive rally, to be sure.

But Goldman analyst Stephen Grambling sees it as a case of too much, too soon. He lowered his rating on MGM to “sell” from “neutral. seven feathers casino shows ”We anticipate a slower recovery in Las Vegas, which will drive downside to consensus estimates, and fundamental underperformance relative to peers,” he said in a note to clients. Since the reopening of Nevada casinos in early June, analysts are frequently saying Sin City will rebound slower than other domestic gaming markets. little river casino resort linkedin Some go so far as to say a coronavirus vaccine is necessary to lure business and leisure travelers back to the casino hub. Compounding that problem for MGM investors is that Goldman’s Grambling believes Michigan and New Jersey – where the operator runs MGM Grand Detroit and the Borgata – are also in the “slow to recover” category.

Key Insights and Expert Analysis

Don’t Believe the HypeMGM is the largest opis fanduel casino riggederator on the Las Vegas Strip, and recent price action in the stock signals a travel rebound to the biggest domestic gaming market that hasn’t yet materialized. turtle creek casino deli menu jamul casino drug test Last month, the company announced layoffs of 18,000 workers, or 25 percent of its workforce. kansas star casino steakhouse While that move isn’t specific to Southern Nevada, there’s speculation that figure could grow. thunder valley casino bus from san jose In its home market, MGM is grappling with a scenario of dual misery: Lost convention traffic in the wake of the coronavirus, and reluctance on behalf of many leisure travelers to get on airplanes. Bicycle Casino Outdoor Gaming Ipnf As such, Goldman’s Grambling said the recent move in the stock is overdone. cache creek casino website “While MGM is re-rating off of lows, we see the rally as unwarranted, given lower exposure to the outperforming regional segment, only partial ownership of digital, higher exposure to group/convention mix, which we believe will recover slowly; and lowest mobility metrics/highest COVID-19 case count over the past two weeks,” he said.

The analyst said lower earnings estimates and a “valuation de-rating” could present downside of up to 12 percent for his price target on the Bellagio operator. Prefer PennSalting MGM’s wounds, Grambling reiterated a “buy” rating and a price target on rival Penn National Gaming (NASDAQ:PENN). The analyst just started covering that name last month, and he’s enthusiastic about the operator’s relationship with David Portnoy’s Barstool Sports. hard rock casino rules Goldman views the combination of Barstool’s loyal fanis fanduel casino rigged base and proficiency in content creation as compelling, because it can lower customer acquisition costs, which is a major hurdle facing companies throughout the sports betting industry. resorts casino no deposit bonus code Grambling prefers Penn to MGM because of the former’s “exposure to defensive regional markets, cost-cutting opportunities and, for PENN, the upcoming sports betting app launch with Barstool. free slot machines konami ” A total of 0 million in payments could be delivered by January to relatives and victims in the 2017 mass shooting on the Las Vegas Strip. download big fish casino online slots uk free spins

A gunman firing from the Mandalay Bay in 2017 killed or injured approximately 900 people. roulette casino set is there a borgata casino in las vegas Relatives and victims could receive settlement payouts next year. (Image: NBC News)The payouts from MGM Resorts International and its insurers would be distributed to more than 4,400 relatives and victims of the Oct. 1, 2017, massacre, according to the Associated Press. A gunman firing from the 32nd floor of the Mandalay Bay hotel-casino gta 5 casino slot machine jackpot