ruby slots sign up“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 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.Last month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.raging bull casino 2021Additionally, the business will generate just 0 million in revenue this year, with profitability three years away, according to the Roth analyst.“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.(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 .chumba casino verification proceb reddit

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online gambling rocketBut there are issues, there, too.“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.Namely, Sin City is now highly dependent on leisure travel from neighboring California.treasure island resort and casino vegasRisky 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.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.“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.no deposit bonus casino slots

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hard rock casino chicagoShares 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.Some investors like Wynn stock due to Asia-Pacific exposure.The gaming company struck while the iron was hot, commanding strong pricing on those properties prior to the onset of the pandemic.Namely, Sin City is now highly dependent on leisure travel from neighboring California.1 billion in cash, giving it its strongest balance sheet ever.An analyst downgraded Wynn’s stock today, citing exposure to that market and weakness in Las Vegas.draftkings casino map