viejas casino outlets storesMGM Grand on the Las Vegas Strip.(Image: Getty Images)In a note to clients today, Bain lowered his rating on the Encore operator to “neutral” from “buy,” while trimming his price target tjamul casino buffet priceo .“4Q/1Q marks convention season, which is essentially non-existent, leaving MGM’s portfolio dependent on California leisure traffic.harrah s cherokee casino drink pricesShares of Wynn Resorts (NASDAQ:WYNN) are lower by more than two percent Wednesday after Roth Capital analyst David Bain downgraded the gaming operator, citing, among other factors, risk in the marquee Macau market.“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.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.admiral casino live chat

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casino near me dallas txBut Bain argues Diller’s company may have paid too much for the privilege.It’s been a week of downgrades for MGM Resorts International (NYSE:MGM).Fontenot told Casino.seminole casino bluegrab festival(Image: Getty Images)In a note to clients today, Bain lowered his rating on the Encore operator to “neutral” from “buy,” while trimming his price target tjamul casino buffet priceo .Additionally, the business will generate just 0 million in revenue this year, with profitability three years away, according to the Roth analyst.”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.hard rock casino kings mountain nc

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black hawk casino covid 19But Bain argues Diller’s company may have paid too much for the privilege.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.But its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.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.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.cashman casino glitch