brian christopher slots subscribers(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.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.The stock suffered its second lower revision in three days Wednesday, with the Las Vegas Strip looking like the primary culprit.four winds casino win lob statement1 billion in cash, giving it its strongest balance sheet ever.Too 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.“To be clear, we believe IAC ownership is a positive for MGM.twin river casino employment

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exclusive online casino no deposit bonus(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.”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.An analyst is concerned about the operator’s exposure to its home city.chukchansi casino instagramHowever, the riverboat was not structurally damaged and is back in operation as a floating casino.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.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.downstream casino 4th july celebration

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hollywood casino st louisRaining 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.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.“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.But Bain argues Diller’s company may have paid too much for the privilege.But its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.river spirit casino room service menu