maroon 5 hollywood casinoToo much dependence on its home market is a potential drag on MGM stock at a time when Las Vegas is still grappling with the effects of the coronavirus pandemic.These casinos were closed temporarily but have since reopened, according to Lt.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.club player casino new no deposit bonus codes(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.“To be clear, we believe IAC ownership is a positive for MGM.The gaming company struck while the iron was hot, commanding strong pricing on those properties prior to the onset of the pandemic.three rivers casino near me

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jamul casino numberBut its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.That implies downside from the area at which the stock currently resides.Soft air travel, group/event compoxford casino gamesression, low pricing power and high fixed costs, including rent payments,” are among the issues highlighted by Bain.santa ana star casino in albuquerqueLast month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.It’s been a week of downgrades for MGM Resorts International (NYSE:MGM).It’s been a week of downgrades for MGM Resorts International (NYSE:MGM).downstream casino tickets

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call lucky dragonThe stock suffered its second lower revision in three days Wednesday, with the Las Vegas Strip looking like the primary culprit.That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.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.That implies downside from the area at which the stock currently resides.But its land-based difficulties trump its digital opportunities by a wide margin,” 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.online casino real money bangladesh