hard rock casino las vegas“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.Namely, Sin City is now highly dependent on leisure travel from neighboring California.That implies downside from the area at which the stock currently resides.lucky8 casino no deposit bonusRisky 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.But 2020 is far from the usual climate for gaming companies.The gaming company struck while the iron was hot, commanding strong pricing on those properties prior to the onset of the pandemic.casino extreme free chip

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golden nugget casino las vegas phone number“To be clear, we believe IAC ownership is a positive for MGM.That’s fine in a normal operating environment, and it’s exposure that’s served Wynn investors well over the years.“To be clear, we believe IAC ownership is a positive for MGM.twin river casino mibibippiBut 2020 is far from the usual climate for gaming companies.The gaming company struck while the iron was hot, commanding strong pricing on those properties prior to the onset of the pandemic.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.lake tahoe casino and resort

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casino shootingRaining 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.”Risks mentioned by the Roth analyst include ongoing geopolitical volatility between the US and China, and concession renewal risk for US operators in Macau, among others.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.Raining 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.Only recently have there been most signs of a pickup in visits.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.santa ana casino comedy club