four winds casino south bend hotel(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.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.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.admiral casino folkestoneBut Bain argues Diller’s company may have paid too much for the privilege.1 billion in cash, giving it its strongest balance sheet ever.The stock suffered its second lower revision in three days Wednesday, with the Las Vegas Strip looking like the primary culprit.brian christopher slots 2021 net worth

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downstream casino legends entertainmentFontenot told Casino.That’s because investors are enthusiastic about Diller’s reputation for helping small consumer online assets become internet behemoths.The gaming company struck while the iron was hot, commanding strong pricing on those properties prior to the onset of the pandemic.borgata online casino bonus codeThe stock suffered its second lower revision in three days Wednesday, with the Las Vegas Strip looking like the primary culprit.“4Q/1Q marks convention season, which is essentially non-existent, leaving MGM’s portfolio dependent on California leisure traffic.“To be clear, we believe IAC ownership is a positive for MGM.chukchansi casino online

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thunder valley casino gamesMGM Grand on the Las Vegas Strip.Now, MGM has .“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.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.free online poker arkadium