casino resorts kentuckyRaining on the ParadeIAC getting involved with MGM is much more about the gaming company’s online casinos and BetMGM units than it is about land-based integrated resorts.“Given the lack of domestic/international travel, lack of near/intermediate-term group and business events, the beginning of a long Las Vegas recovery is currently levered to California leisure traffic, which offers little visibility/reason for investor enthusiasm,” said Bain.(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 .harrah s cherokee casino bowling alleyThe Wynn Macau is pictured above.BetMGM is a joint venture with GVC Holdings, meaning MGM has to share the economics with its UK-based partner.“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.sycuan casino off track betting

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doubledown casino active codes“To be clear, we believe IAC ownership is a positive for MGM.oyment, owing to the COVID-19 pandemic.oyment, owing to the COVID-19 pandemic.r bar live casinoBetMGM is a joint venture with GVC Holdings, meaning MGM has to share the economics with its UK-based partner.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.online casino real money top 10

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best online slots real money redditBut there are issues, there, too.That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.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.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.“Given the lack of domestic/international travel, lack of near/intermediate-term group and business events, the beginning of a long Las Vegas recovery is currently levered to California leisure traffic, which offers little visibility/reason for investor enthusiasm,” said Bain.That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.borgata casino event center atlantic city nj