2024.07.19
golden nugget casino concertsThe gaming resort is Cordish’s largest casino development investment to date.Governor Tom Wolf (D) recently relaxed COVID-19 restrictions that banned indoor dining and forced all casinos in the Commonwealth to shutter. (Image: John Locher/AP)In a note to clients today, Citi analyst George Choi pared his rating on the Encore operator to “sell” from “buy.” This is a double downgrade because it skipped over a “neutral” grade. But Wynn Resorts (NASDAQ:WYNN) is enduring that fate today at the hands of Citi. foxwoods resort casino resort casino in ctThis confirmed that Choi’s “sell” call on the name is a departure from consensus.Prior to that rating being revealed today, eight analysts had bullish or very bullish grades on Wynn stock, while another eight rated the name “neutral.” Choi’s price target is nearly below the consensus of 5.93.Analysts constructive on the stock highlight break-even EBITDA at the two Macau integrated resorts in October and November while noting Wynn, usually viewed through the VIP lens, can benefit from increased traffic among mass and premium mass players.In the US, the company runs its namesake integrated resort and Encore on the Las Vegas Strip, and Encore Boston Harbor. The dining and entertainment center is located on the former site of the Spectrum arena, which was demolished over six months from 2010-2011.Live! Needs Live SportsThe Stadium District is located south of downtown Philly next to the Navy Yard. Massachusetts lawmakers moved an economic development bill through the Legislature this week, but it did not include sports betting. mohegan sun casino play4fun clearwater casino covid updateturtle lake casino and hotelIt remains to be seen if the casino giant will up its proposal for the owner of the Ladbrokes and Coral sportsbook brands.Choi’s price forecast on MGM is well above the Wall Street consensus of .29.(Image: John Locher/AP)In a note to clients today, Citi analyst George Choi pared his rating on the Encore operator to “sell” from “buy.” This is a double downgrade because it skipped over a “neutral” grade. The omnibus also did not encourage state gaming regulators to consider a third integrated resort casino.choctaw casino hotel dealsIt’s been a while since Wall Street analysts tagged casino stocks with “sell” ratings. Massachusetts lawmakers moved an economic development bill through the Legislature this week, but it did not include sports betting. But the British company re99 free slot gamesjected the offer, saying it undervalues the firm. wild horse pab casino entertainment paragon casino slot machinescan i travel by train during covid 19Pedestrian traffic is nonexistent in the area, as it sits between I-76 and I-95 highways.Live! Casino Philadelphia will need live sports, with fans, to resume as soon as possible to keep the property busy. So, there was never a thought to pull this project.”Cordish has long been invested in the Stadium District. That’s about below where the shares currently trade.With its Macau subsidiary’s high exposure to VIPs, it’s hard to justify the 12.4x 2-year forward enterprise value/earnings before interest, taxes, depreciation and amortization (EBITDA) multiple that it’s currently trading at,” said Choi.The analyst is positive on Macau’s recovery trajectory, which is integral to the Wynn equity thesis because the Chinese territory is the operator’s largest market. And we have a lot of folks that are planning on careers with us — there are thousands of jobs related to this. “Adding a casino to the already famous sports Stadium District is pretty awesome. The omnibus also did not encourage state gaming regulators to consider a third integrated resort casino.aliante casino las vegas entertainment peppermill casino news |