silver oak casino download version“4Q/1Q marks convention season, which is essentially non-existent, leaving MGM’s portfolio dependent on California leisure traffic.Now, MGM has .BetMGM is a joint venture with GVC Holdings, meaning MGM has to share the economics with its UK-based partner.oxford casino covidThe 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.”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.But Bain argues Diller’s company may have paid too much for the privilege.black hawk casino application

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hard rock casino wiki“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 12oxford casino games percent stake in MGM,” said the analyst.MGM Grand on the Las Vegas Strip.MGM is the largest operator on the Strip, deriving half its 2019 earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) from that market, according to Bain.7 casino kansas city(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.Robert Fontenot of the Louisiana State Police.Robert Fontenot of the Louisiana State Police.the downstream casino

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free casino slots offline“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.Robert Fontenot of the Louisiana State Police.The Wynn Macau is pictured above.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.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.org the Isle of Capri’s motor system will require repair work because of the incident.downstream casino free play