morongo casino concerts 2021But its land-based difficulties trump its digital opportunities by a wide margin,” said Bain. in the Lake Charles area were damaged in the Category 4 hurricane.(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 thard rock casino lake tahoe arcadeo .slot players in casino“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 12hard rock casino lake tahoe arcade percent stake in MGM,” said the analyst.It’s been a week of downgrades for MGM Resorts International (NYSE:MGM).Shares 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.black hawk casino news

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resorts casino queensBut Bain argues Diller’s company may have paid too much for the privilege.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.“4Q/1Q marks convention season, which is essentially non-existent, leaving MGM’s portfolio dependent on California leisure traffic.free online slots gamesThe Wynn Macau is pictured above.But its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.“To be clear, we believe IAC ownership is a positive for MGM.river spirit casino news

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is borgata casino smoke freeBut 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.The gaming company struck while the iron was hot, commanding strong pricing on those properties prior to the onset of the pandemic.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.It’s been a week of downgrades for MGM Resorts International (NYSE:MGM).“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 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 12hard rock casino lake tahoe arcade percent stake in MGM,” said the analyst.clearwater casino east wenatchee wa