4480 stories by Todd Shriber
MGM Q2 Las Vegas Revenue Doubles, Buys Back 8% of Stock
Shares of MGM Resorts International (NYSE:MGM) are trading higher in Wednesday’s extended session. That's after the largest operator on the Las Vegas Strip said its Sin City revenue more than doubled to $2.1 billion in the second quarter. The Aria operator’s earnings...
DraftKings Tops Q2 Sports Betting App Testing, Caesars May Unveil VIP Brand
DraftKings topped rival purveyors of online sports betting mobile applications in a research firm’s second-quarter survey of those products, eking out a win against FanDuel. In the most recent edition of its bi-weekly EKG Line report, research firm Eilers & Krejcik Gaming...
Caesars Asset Sale Could Happen in Months, Stock ‘Woefully Undervalued,’ Says Analyst
Caesars Entertainment (NASDAQ:CZR) delivered estimate-beating second-quarter revenue and earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) late Tuesday. Although there wasn’t a specific update on the long-awaited sale of one of its Las Vegas Strip assets, the company’s...
Melco Mulls Macau Headquarters in Bid to Keep Nasdaq Listing
Melco Resorts & Entertainment (NASDAQ:MLCO) is evaluating moving its headquarters to Macau from Hong Kong in an effort to retain its US equity listing. Citing two unidentified sources with knowledge of the matter, the Financial Times reports Lawrence Ho’s casino consortium is...
DraftKings, Wynn Pegged as Winners in Massachusetts Sports Betting, Say Analysts
To the delight of bettors in New England’s largest state, Massachusetts finally passed regulated sports wagering right before the end of its 2022 legislative session. Analysts are already identifying potential winners among operators. Boston-based DraftKings (NASDAQ:DKNG) may have a home field advantage...
Treasure Island Owner Phil Ruffin Jetting to Oakland in Bid to Woo A’s
Billionaire financier and Las Vegas casino owner Phil Ruffin is reportedly traveling to Northern California Tuesday in an effort to possibly compel Major League Baseball’s Oakland Athletics to move to Sin City. Ruffin, whose Las Vegas gaming interests include Circus Circus, is...
Bally’s Now Sports Wagering Partner of New York Yankees
Regional casino operator Bally’s is increasing its visibility in New York in a big way, announcing it’s now an official sports betting partner of the New York Yankees. The gaming company’s relationship with the most famous, winningest Major League Baseball (MLB) could...
Caesars, Sands Among Speculative Stocks with Rebound Potential
The S&P 500 is still saddled with year-to-date loss of 13.26%. But the benchmark domestic equity gauge gained 8.32% in July, with contributions from some consumer discretionary names, including casino stocks. Caesars Entertainment (NASDAQ:CZR) and Las Vegas Sands (NYSE:LVS) were among the...
Playtech Scraps Caliente Interactive SPAC Merger Plan
Playtech is abandoning plans to bring Caliente Interactive’s Caliplay unit public in the US. The concept would have been executed via a merger with a special purpose acquisition company (SPAC). Its demise potentially deals another blow to the once-hot territory of gaming...
Silverton Casino Swapping Free Drinks for Elves on Shelves
It’s not yet August. But for those looking to get into the holiday spirit a bit earlier than usual while clearing out some unused decorations, the Silverton Casino-Hotel has an answer. The off-Strip Las Vegas venue is looking for “retired elves” from...
