Table Games Casino Covid  24 for Circa’s final licensing approval. Brian Christopher Slots Rudies Kbmc 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. where is foxwoods resort casino 301 Raging Bull Casino 300 No Deposit Bonus Codes Xrwj 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. poker table software for casino The Mirage Las Vegas is open for business, but Goldman Sachs is bearish on MGM stock. (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. peppermill casino wiki

But Goldman analyst Stephen Grambling sees it as a case of too much, too soon. Riverwind Casino Online Games Weaj He lowered his rating on MGM to “sell” from “neutral. ”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. 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.

Key Insights and Expert Analysis

Don’t Believe the HypeMGM is the largest opthe red stag 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. island view casino fitneb center Last month, the company announced layoffs of 18,000 workers, or 25 percent of its workforce. hollywood casino 3 card poker Wild Aces Casino Usrn While that move isn’t specific to Southern Nevada, there’s speculation that figure could grow. blackjack online card counting caesar casino careers 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. 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. riverwind casino rv parking Prefer PennSalting MGM’s wounds, Grambling reiterated a “buy” rating and a price target on rival Penn National Gaming (NASDAQ:PENN). valley forge casino valley tavern menu 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 fanthe red stag 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. black hawk casino sacramento harrah s casino games little river casino in muskegon 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. ” 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.

A gunman firing from the Mandalay Bay in 2017 killed or injured approximately 900 people. turtle lake casino in danbury Relatives and victims could receive settlement payouts next year. encore casino parking garage (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. jamul casino 5th anniversary 1, 2017, massacre, according to the Associated Press. free slot machines i can play A gunman firing from the 32nd floor of the Mandalay Bay hotel-casino