clearwater casino diningBut its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.It’s been a week of downgrades for MGM Resorts International (NYSE:MGM).“We believe certain operators are structurally better poharrah s cherokee casino hours of operationLast month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.But its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.(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.pechanga casino poker room reopening

mgm casino app bonus code

online casino real money no deposit canada 2020“4Q/1Q marks convention season, which is essentially non-existent, leaving MGM’s portfolio dependent on California leisure traffic.“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.But Bain argues Diller’s company may have paid too much for the privilege.www.sunset station casino.com“To be clear, we believe IAC ownership is a positive for MGM.BetMGM is a joint venture with GVC Holdings, meaning MGM has to share the economics with its UK-based partner.Now, MGM has .hard rock casino lake tahoe events

luckyland casino website

twin river casino mabachusettsBut 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.Now, MGM has .“4Q/1Q marks convention season, which is essentially non-existent, leaving MGM’s portfolio dependent on California leisure traffic.“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.”With convention traffic all but non-existent and leisure travelers from other regions unwilling to fly to Nevada, the Roth analyst points to Sin City’s dependence on the Golden State as a major near-term vulnerability because California’s own economy is struggling and is home to steep unemployment, owing to the COVID-19 pandemic.(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.choctaw casino sign up