soaring eagle casino floor map in the Lake Charles area were damaged in the Category 4 hurricane.(Image: Ethan Miller/Getty Images)In a note to clients today, Roth Capital analyst David Bain lowered his rating on the Bellagio operator to “neutral” from “buy,” while paring his price forecast on the stock to , implying significant downside from the area at which it currently trades.The stock suffered its second lower revision in three days Wednesday, with the Las Vegas Strip looking like the primary culprit.free online poker unblockedThat helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.MGM is the largest operator on the Strip, deriving half its 2019 earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) from that market, according to Bain.An analyst downgraded Wynn’s stock today, citing exposure to that market and weakness in Las Vegas.is las atlantis casino

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88 fortunes online free slot casino gamesMGM Grand on the Las Vegas Strip.An analyst is concerned about the operator’s exposure to its home city.“We believe certain operators are structurally better pocasino kings mountain ncLast month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.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.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.free online slots games for fun no download

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blackjack online card countingThat 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.Soft air travel, group/event compoxford casino gamesression, low pricing power and high fixed costs, including rent payments,” are among the issues highlighted by Bain.An analyst is concerned about the operator’s exposure to its home city.But Bain argues Diller’s company may have paid too much for the privilege.But its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.bonus casino codes