4509 stories by Todd Shriber
Caesars, MGM Among Casino Stocks that Can Shake August Slumps
The S&P 500 entered Wednesday with a month-to-date loss of 1.6%, far worse than the index’s average August performance over the prior decade. This month, travel and leisure stocks, including some widely followed casino equities, were among the most repudiated names. After...
Bet365 Approved for Arizona Sports Wagering License
Bet365’s U.S. expansion is continuing, as the operator was awarded a sports betting license in Arizona. The Arizona Department of Gaming (ADG) made the announcement on Tuesday. In late June, ADG said it would open bidding for three new sports wagering permits...
Gaming and Leisure Pays $100M for Hard Rock Rockford Real Estate
Gaming and Leisure Properties (NASDAQ: GLPI) announced Tuesday that it’s paying $100 million for the real estate associated with the Hard Rock Casino development in Rockford, Ill. The gaming real estate investment trust (REIT) acquired the property from an affiliate of 815...
Bellagio Stake Sale Could Bode Well for Caesars, VICI, Says Analyst
Blackstone’s (NYSE: BX) Blackstone Real Estate Income Trust (BREIT) recently announced the sale of a 21.9% interest in the property assets of Bellagio on the Las Vegas Strip to Realty Income (NYSE: O) for approximately $950 million. That price point implies the...
Sporttrade Lands Colorado License
Sports betting exchange operator Sporttrade last week received a temporary sports betting internet operator permit from the Colorado Limited Gaming Control Commission (CLGCC). That paves the way for the company to offer its exchange services in the state. Colorado joins New Jersey...
MGM Applauds Commerce Secretary’s China Visit
U.S. Commerce Secretary Gina Raimondo is kicking off a four-day trip to China to discuss trade and tourism with officials in the world’s second-largest economy. MGM Resorts International (NYSE: MGM) lauded the move. MGM controls about 56% of MGM China, which runs...
FanDuel, NASCAR Announce Partnership
FanDuel and the National Association for Stock Car Auto Racing (NASCAR) announced a deal on Friday in which the sportsbook operator will become an authorized gaming operator of the motorsports series. Financial terms of the multiyear accord weren’t disclosed. As part of...
Sphere Entertainment Has ‘Too Many Unknowns,’ Says Analyst
Sphere Entertainment (NASDAQ: SPHR), the owner of the MSG Sphere on the Las Vegas Strip, may be leaving analysts and investors with more questions than answers. That’s the take of Macquarie analyst Paul Golding, who reiterated a “neutral” rating on the stock...
Blackstone Selling Bellagio Stake to Realty Income for $950M
Blackstone’s (NYSE: BX) Blackstone Real Estate Income Trust (BREIT) is selling 21.9% of its interest in the real estate of Bellagio on the Las Vegas Strip to Realty Income (NYSE: O) for approximately $950 million, valuing the iconic venue at $5.1 billion....
Bally’s Temporary Chicago Casino Could Open in Early September
The long-awaited debut of Bally’s temporary Chicago casino could arrive soon after the Labor Day holiday on September 4. Officials from the Illinois Gaming Board (IGB) will inspect Medinah Temple, the site of the temporary casino, on September 5. The following two...
