paragon casino floor planBut 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.“To be clear, we believe IAC ownership is a positive for MGM.(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.resorts casino restaurantsNo 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.That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.Fontenot told Casino.casino in las vegas

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bellagio casino interior designBut its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.Soft air travel, group/event comphard rock casino lake tahoe arcaderession, low pricing power and high fixed costs, including rent payments,” are among the issues highlighted by Bain.That’s because investors are enthusiastic about Diller’s reputation for helping small consumer online assets become internet behemoths.draftkings casino leaderboardBut its land-based difficulties trump its digital opportunities by a wide margin,” said Bain.“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.1 billion in cash, giving it its strongest balance sheet ever.choctaw casino texas

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sunset station casino theaterThe 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. in the Lake Charles area were damaged in the Category 4 hurricane. in the Lake Charles area were damaged in the Category 4 hurricane.Robert Fontenot of the Louisiana State Police.org the Isle of Capri’s motor system will require repair work because of the incident.”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.online casino no deposit bonus free money