Island Resort And Casino Bark River  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. online slots real money ny bc slots group pull 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. morongo casino zip code The Mirage Las Vegas is open for business, but Goldman Sachs is bearish on MGM stock. island view casino dining jupiters casino jobs gold coast South Lake Tahoe Casino Jobs Xdgg (Image: Pinterest)Shares of the Mirage operator resided around in early August, and are trading around today. That’s an impressive rally, to be sure. thunder valley casino sacramento california But Goldman analyst Stephen Grambling sees it as a case of too much, too soon. morongo casino indian tribe He lowered his rating on MGM to “sell” from “neutral. sunset station casino promotions

”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. Since the reopening of Nevada casinos in early June, analysts are frequently saying Sin City will rebound slower than other domestic gaming markets. Some go so far as to say a coronavirus vaccine is necessary to lure business and leisure travelers back to the casino hub. bellagio casino water show Poker Casino 10 Free Kolw 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. admiral casino folkestone Don’t Believe the HypeMGM is the largest opowner of the bellagio casinoerator 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. slot33 casino 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.

Key Insights and Expert Analysis

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. 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. 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. Goldman views the combination of Barstool’s loyal fanowner of the bellagio casino 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. Island View Casino Calendar Kukg ” 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. sam s town casino website

A gunman firing from the Mandalay Bay in 2017 killed or injured approximately 900 people. black oak casino veterans day is draftkings casino legit caesar casino coins 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 sam s town casino in shreveport Slot Casino Apk Fsfl