4375 stories by Todd Shriber
Wynn Loan to Macau Unit Negative Sign, Others Could Follow, Says Morgan Stanley
Wynn Resorts (NASDAQ:WYNN) extending a $500 million credit revolver to its Wynn Macau unit is a negative sign. But other concessionaires in the world’s largest casino center could follow, according to Morgan Stanley analysts. The bank says the move by Wynn implies...
FanDuel Unveils Star-Laden Commercial Targeting Golf Bettors
FanDuel is employing some serious star power in a new commercial aimed at boosting interest in golf wagering. The sportsbook operator, a unit of Flutter Entertainment, said today it is rolling out a new commercial featuring current FanDuel PGA Tour partner and...
Wynn Resorts Loans Macau Unit $500M
Wynn Resorts (NASDAQ:WYNN) is extending a $500 million credit facility to its Wynn Macau arm to shore up its finances. According to a regulatory filing with the Hong Kong Stock Exchange, the credit revolver carries a two-year term and an annual interest...
GAN Extends Share Buyback Plan
GAN Ltd. (NASDAQ:GAN) announced today it is extending a previously announced $5 million share repurchase program. The move potentially provides some relief to its badly battered shares. The gaming technology provider said it’s pushing the deadline of the previously announced buyback plan...
Former Penn National Software Engineer Charged with Insider Trading
The Securities and Exchange Commission (SEC) today said it’s charging an ex-Penn National Gaming (NASDAQ:PENN) employee with insider trading. The charge stems from the casino operator’s $2 billion purchase of Score Media and Gaming. In a complaint filed in federal district court...
Macau Gaming Law Now Mandates Operators Can’t Directly Invest in Each Other
The third version of Macau’s still in-the-works revised gaming laws will reportedly mandate that concessionaires and their biggest investors cannot directly invest in competitors. But they can indirectly own up to 5% of rivals. The stipulation on investors applies to those owning...
PointsBet Reportedly Rebuffed Murdoch-led Group Bid for Aussie Business
PointsBet (OTC:PBTHF) reportedly turned back an acquisition offer for its Australian unit valued at up to $211.1 million. The bid came from a group led by Rupert Murdoch’s News Corp and legendary Aussie bookmaker Matthew Tripp. Citing unidentified sources familiar with the...
Caesars Deleveraging Story Poised for Dramatic Acceleration, Says Analyst
Caesars Entertainment’s (NASDAQ:CZR) debt burden stood at $13.5 billion at the end of March -- among the highest in the gaming industry -- but one analyst sees the company’s debt-reduction efforts potential accelerating over the near-term. In a recent note to clients,...
Sports Betting Advertising Soars 281% Through May
Sports wagering national advertising nearly quadrupled for the nine months ending May 31, soaring 281% to $282 million over that period, according to iSpot.tv. From September 2021 through May 2022, total impressions jumped 48% to 18.2 billion, compared with the year earlier...
Penn National Casino Spending Resilient, Digital Premium Gone, Says Analyst
Penn National Gaming’s (NASDAQ:PENN) land-based casinos remain sturdy. But investors are no longer assigning a premium to the operator’s digital business, which includes Barstool Sportsbook. However, resilient spending among patrons frequenting regional casinos isn’t satisfying market participants, as highlighted by Penn’s 40%...
