The Choctaw Casino  24 for Circa’s final licensing approval. downstream casino outdoor concerts While the price tag to build Circa has not been announced, ENR Southwest, an engineering and construction trade publication, reported that it is a billion project. chumba casino website blackjack online order MGM Resorts International (NYSE:MGM) was downgraded today by Goldman Sachs, the bank saying it’s concerned about the Las Vegas recovery trajectory, among other issues. The Mirage Las Vegas is open for business, but Goldman Sachs is bearish on MGM stock. intertops casino tournament (Image: Pinterest)Shares of the Mirage operator resided around in early August, and are trading around today. twin river casino lincoln r.i That’s an impressive rally, to be sure. But Goldman analyst Stephen Grambling sees it as a case of too much, too soon. Ruby Slots Withdrawal Jtev He lowered his rating on MGM to “sell” from “neutral.

”We anticipate a slower recovery in Las Vegas, which will drive downside to consensus estimates, and fundamental underperformance relative to peers,” he said in a note to clients. Ruby Heap Slots Lbfi Since the reopening of Nevada casinos in early June, analysts are frequently saying Sin City will rebound slower than other domestic gaming markets. drake casino live chat 7 feathers casino phone number Some go so far as to say a coronavirus vaccine is necessary to lure business and leisure travelers back to the casino hub. Compounding that problem for MGM investors is that Goldman’s Grambling believes Michigan and New Jersey – where the operator runs MGM Grand Detroit and the Borgata – are also in the “slow to recover” category. Don’t Believe the HypeMGM is the largest opthe red stag casinoerator on the Las Vegas Strip, and recent price action in the stock signals a travel rebound to the biggest domestic gaming market that hasn’t yet materialized. Last month, the company announced layoffs of 18,000 workers, or 25 percent of its workforce. While that move isn’t specific to Southern Nevada, there’s speculation that figure could grow. mohegan sun casino hotel phone number In its home market, MGM is grappling with a scenario of dual misery: Lost convention traffic in the wake of the coronavirus, and reluctance on behalf of many leisure travelers to get on airplanes.

Key Insights and Expert Analysis

As such, Goldman’s Grambling said the recent move in the stock is overdone. Seven Feathers Casino Buffet Menu Wkke “While MGM is re-rating off of lows, we see the rally as unwarranted, given lower exposure to the outperforming regional segment, only partial ownership of digital, higher exposure to group/convention mix, which we believe will recover slowly; and lowest mobility metrics/highest COVID-19 case count over the past two weeks,” he said. The analyst said lower earnings estimates and a “valuation de-rating” could present downside of up to 12 percent for his price target on the Bellagio operator. mountaineer casino buffet menu angel of the winds casino jackpots casino in bethlehem pa d casino in vegas Prefer PennSalting MGM’s wounds, Grambling reiterated a “buy” rating and a price target on rival Penn National Gaming (NASDAQ:PENN). The analyst just started covering that name last month, and he’s enthusiastic about the operator’s relationship with David Portnoy’s Barstool Sports. slot v casino no deposit bonus codes winstar world casino opening date Goldman views the combination of Barstool’s loyal fanthe red stag casino base and proficiency in content creation as compelling, because it can lower customer acquisition costs, which is a major hurdle facing companies throughout the sports betting industry. Grambling prefers Penn to MGM because of the former’s “exposure to defensive regional markets, cost-cutting opportunities and, for PENN, the upcoming sports betting app launch with Barstool. ” A total of 0 million in payments could be delivered by January to relatives and victims in the 2017 mass shooting on the Las Vegas Strip. las atlantis casino promo code

A gunman firing from the Mandalay Bay in 2017 killed or injured approximately 900 people. Relatives and victims could receive settlement payouts next year. (Image: NBC News)The payouts from MGM Resorts International and its insurers would be distributed to more than 4,400 relatives and victims of the Oct. gta 5 casino slot machine jackpot Kings Slot Machine Casino Bery 1, 2017, massacre, according to the Associated Press. A gunman firing from the 32nd floor of the Mandalay Bay hotel-casino