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riverwind casino norman ok hotelRisky 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.Not Loving Las Vegas, EitherThe analyst forecasts Las Vegas, where Wynn owns its namesake integrated resort, anwhen will island view casino opend the Encore, will account for 22 percent of 2022 EBITDA.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.That’s fine in a normal operating environment, and it’s exposure that’s served Wynn investors well over the years.That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.An analyst downgraded Wynn’s stock today, citing exposure to that market and weakness in Las Vegas.cool cat casino free spins bonus codes