online gambling helpIt’s been a week of downgrades for MGM Resorts International (NYSE:MGM).But Bain argues Diller’s company may have paid too much for the privilege.1 billion in cash, giving it its strongest balance sheet ever.turn 2 hollywood casino(Image: Getty Images)In a note to clients today, Bain lowered his rating on the Encore operator to “neutral” from “buy,” while trimming his price target toxford casino gameso .That helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.“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.casino las vegas

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winstar world casino and resort thackerville ok(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.org.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.casino oklahomaLast month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.”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.But Bain argues Diller’s company may have paid too much for the privilege.bellagio casino owner

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pechanga casino concertsThe gaming company struck while the iron was hot, commanding strong pricing on those properties prior to the onset of the pandemic.(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.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.MGM is the largest operator on the Strip, deriving half its 2019 earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) from that market, according to Bain.An analyst downgraded Wynn’s stock today, citing exposure to that market and weakness in Las Vegas.But Bain argues Diller’s company may have paid too much for the privilege.wynn casino las vegas careers