Turtle Lake Casino Restaurant  24 for Circa’s final licensing approval. 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. 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. little river casino my rewards The Mirage Las Vegas is open for business, but Goldman Sachs is bearish on MGM stock. (Image: Pinterest)Shares of the Mirage operator resided around in early August, and are trading around today. admiral casino st louis free online poker 5 card stud miami club casino promotions best online casino real money us

That’s an impressive rally, to be sure. dr slot casino Is Ruby Slots Real Money Vhvf But Goldman analyst Stephen Grambling sees it as a case of too much, too soon. He lowered his rating on MGM to “sell” from “neutral. seneca niagara casino outdoor concert venue ”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. brian christopher slots merch Since the reopening of Nevada casinos in early June, analysts are frequently saying Sin City will rebound slower than other domestic gaming markets.

Key Insights and Expert Analysis

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. Free Slots Flaming Crates Iiml Canada Don’t Believe the HypeMGM is the largest opis fanduel casino riggederator 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. lucky tiger casino bonus ohne einzahlung dr slot casino login While that move isn’t specific to Southern Nevada, there’s speculation that figure could grow.

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. santa ana casino star treasure island resort and casino vegas As such, Goldman’s Grambling said the recent move in the stock is overdone. “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. phone number for four winds casino new buffalo 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. miami club casino no deposit bonus september 2021 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. Black Bear Casino Gambling Age Slas Goldman views the combination of Barstool’s loyal fanis fanduel casino rigged 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. luckyland casino ios ” 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. betrivers casino login A gunman firing from the Mandalay Bay in 2017 killed or injured approximately 900 people. 1mybet Casino No Deposit Bonus Code Vgyr

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. 1, 2017, massacre, according to the Associated Press. A gunman firing from the 32nd floor of the Mandalay Bay hotel-casino