4497 stories by Todd Shriber
IGT Will Repurchase up to $500M of Outstanding Debt
International Game Technology (NYSE:IGT) is taking added steps to firm its balance sheet. Today, it told investors it will repurchase up to $500 million worth of its outstanding corporate debt. The slot machine manufacturer said the buyback plan will pertain to two...
Macau Slots, Table Games Limit Could Pinch Sands China
Even distribution of slot machines and table games across the various integrated resorts operated by Macau concessionaires could be problematic for Sands China, according to Morgan Stanley analysts. Under the special administrative region’s (SAR) new gaming laws, regulators limit slots to 12,000...
Regional Casinos Get July Boost from Lower Gas Prices
The national average gas price is $3.829 per gallon, according to AAA, well above levels seen in late 2020, but off the highs set earlier this year. Those declines provided some support to regional casinos’ July gross gaming revenue (GGR) figures. GGR...
MGM Says 96 Percent of LeoVegas Investors Accept Takeover Offer
MGM Resorts International (NYSE:MGM) said today that 96% of LeoVegas AB investors voted in favor of the casino operator’s takeover of the Swedish gaming company. The price at which those investors accepted a public tender offer is the equivalent of $5.72 a...
Ontario 2Q GGR Underwhelming, Not Catalyst for Penn Stock, Says Analyst
On Tuesday, Ontario finally updated analysts, investors and market observers on its iGaming and sports betting handle and revenue. The update encompassed the time span since the rollout of those activities in early April. Suffice to say, Canada’s largest province disappointed. Data...
Light & Wonder CEO Transition Applauded By Analyst
Light & Wonder (NASDAQ: LNW) announced late Tuesday that Barry Cottle resigned as chief executive officer and president. He also left the company’s board, with Matt Wilson stepping in as interim CEO -- a change that’s drawing praise from some analysts. In...
Circa Debuts New Convention Center in Downtown Las Vegas
Circa Resort & Casino is throwing its hat in the ultra-competitive Las Vegas conventions and meetings arena. It announced today its convention space is open for business. The 35,000-square-foot venue, located in downtown Las Vegas, is part of the second phase of...
Casino Stocks Among Q3 Consumer Discretionary Leaders
The S&P 500 Consumer Discretionary Index is up 13.4% in the third quarter, outpacing the broader S&P 500 by nearly 800 basis points. Casino stocks are a big reason why. With many gaming equities deep in the red on a year-to-date basis...
Fanatics Could Take Sports Bets by End of 2022, Says Founder
Fanatics -- long rumored to be entering the sports betting business -- could be accepting wagers by the end of this year. In an interview on The Volume with Colin Cowherd, Fanatics founder Michael Rubin said the company could be taking sports...
IGT Reaches Settlement with DoubleDown Interactive, Sees Q3 Charge of $120M
International Game Technology (NYSE:IGT) announced today it reached an agreement in principle to settle legal claims stemming from the Benson v. DoubleDown Interactive LLC litigation. That suit is tied to IGT’s June 2017 sale of social casino developer DoubleDown Interactive (NASDAQ:DDI) to...
