pechanga casino youtubeIt’s been a week of downgrades for MGM Resorts International (NYSE:MGM).“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.But Bain argues Diller’s company may have paid too much for the privilege.lucky tiger casino bonus ohne einzahlungThe gaming company struck while the iron was hot, commanding strong pricing on those properties prior to the onset of the pandemic.That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.(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.bicycle casino jackpot

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soaring eagle casino venue1 billion in cash, giving it its strongest balance sheet ever.“To be clear, we believe IAC ownership is a positive for MGM.Now, MGM has .boomtown casino table gamesBut its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.Last month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.“4Q/1Q marks convention season, which is essentially non-existent, leaving MGM’s portfolio dependent on California leisure traffic.free online interactive slots

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seminole casino okeechobee floridaBetMGM is a joint venture with GVC Holdings, meaning MGM has to share the economics with its UK-based partner.An analyst is concerned about the operator’s exposure to its home city.The Wynn Macau is pictured above.“4Q/1Q marks convention season, which is essentially non-existent, leaving MGM’s portfolio dependent on California leisure traffic.Raining 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.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 games