4480 stories by Todd Shriber
Regional Casino Stocks Could Prove Sturdy
Gaming equities of all stripes are performing well to start 2023. But regional casino stocks could be among the sturdier names as this year unfolds. As 2022 drew to a close, the investment community expressed fears that regional casinos would be pinched...
Boyd Gaming Pops After Earnings Beat, Price Target Hikes
Shares of Boyd Gaming (NYSE: BYD) surged Friday after the regional casino operator delivered fourth-quarter earnings that beat Wall Street estimates. That prompted a spate of upward price target revisions among analysts covering the company. Late Thursday, Las Vegas-based Boyd said it...
Oakland A’s Eyeing Two Strip Sites for Las Vegas Move
Following another round of meetings between team officials and Las Vegas business leaders, it’s clear the Oakland Athletics are eyeing two sites on the Strip should the team move to Sin City -- the fairgrounds owned by Circus Circus and the Tropicana....
ARK Invest Sees Sports Betting Swelling to $330 Billion in 2027
Cathie Wood’s ARK Investment Management is bullish on the future of US and Canadian sports wagering, forecasting massive growth for the industry over the next five years. In the asset manager’s 2023 “Big Ideas” report, ARK estimates that mobile/online sports wagering in...
Aruze Gaming Seeks Chapter 11 Bankruptcy Protection
Aruze Gaming, a manufacturer of electronic gaming devices for casinos, filed for Chapter 11 bankruptcy protection on Wednesday in the United States Bankruptcy Court for the State of Nevada. The maker of the Roll To Win Craps machines also said that US...
Penn Entertainment Q4 Earnings Miss Estimates, Barstool Sportsbook Turns Profitable
Shares of Penn Entertainment (NASDAQ: PENN) slumped Thursday after the regional casino operator reported fourth-quarter results that missed Wall Street projections. However, a bright spot was its Barstool Sportsbook unit turning profitable in the final three months of 2022. The Ameristar operator...
Las Vegas Sands Alters $1.5B Credit Facility Further Delaying Dividend Restoration
Las Vegas Sands (NYSE: LVS) reached an agreement with lenders to amend select covenants in a $1.5 billion revolving credit facility -- a move that further delays the casino operator’s plans to restore its quarterly dividend. The Parisian Macau operator revealed the...
Thailand Casinos Could Nibble at Singapore Gaming Revenue
Should Thailand move forward with plans to potentially be the next hot Asia-Pacific gaming market, it could pilfer revenue from entrenched competitors, such as Malaysia and Singapore. That’s the call from Maybank IB Research. It notes casino resorts in Thailand would not...
Minnesota Mulls Another Sports Betting Bill
Minnesota isn't just the "Land of 10,000 Lakes." It's also the land of failed sports betting legislative efforts. But politicians in the state are giving it another go. Minnesota State Sen. Jeremy Miller (R-Winona) said Tuesday he’s planning to introduce the Minnesota...
DraftKings Reducing Staff by 3.5 Percent in Cost-Cutting Move
DraftKings (NASDAQ: DKNG) announced Wednesday it's laying off 140 employees, or about 3.5% of its workforce, in an effort to reduce costs. The Boston-based sportsbook operator didn’t specify in which areas those headcount reductions will occur. Nor did it mention the possibility...
