bellagio casino tourShares 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.oyment, owing to the COVID-19 pandemic.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.coushatta casino win lob statementNo 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 its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.That’s fine in a normal operating environment, and it’s exposure that’s served Wynn investors well over the years.electronic table games casino

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admiral casino zenica“To be clear, we believe IAC ownership is a positive for MGM.Additionally, the business will generate just 0 million in revenue this year, with profitability three years away, according to the Roth 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 .black bear casino smoke freeLast month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.Bain added that Wynn has less exposure to the Cotai Strip than rivals Las Vegas Sands (NYSE:LVS) and Melco Resorts & Entertainment (NASDAQ:MLCO), a relevant point because border expansions and new capacity could drive traffic to that area of Macau.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.caesar casino book

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indian casino online no deposit bonusShares 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.“To be clear, we believe IAC ownership is a positive for MGM.But Bain argues Diller’s company may have paid too much for the privileglake tahoe casinos mgme.But Bain argues Diller’s company may have paid too much for the privileglake tahoe casinos mgme.Wynn Macau and Wynn Palace, along with the special administrative region’s (SAR) other casinos, were closed for 15 days in February because of the coronavirus pandemic.Additionally, the business will generate just 0 million in revenue this year, with profitability three years away, according to the Roth analyst.map of wild horse pab casino