4507 stories by Todd Shriber
Boyd Gaming Open to M&A, Execs Evasive on Penn Rumor
Boyd Gaming (NYSE: BYD) executives said they’re open to acquisitions, but they didn’t specifically mention Penn Entertainment (NASDAQ: PENN) on their company’s second-quarter earnings conference call on Thursday evening. There was no direct mention of Penn on the call. Speculation that Penn...
Times Square Casino Plan Draws Opposition from Theater Union
The International Alliance of Theatrical Stage Employees (IATSE) is the latest member of the No Times Square Casino Coalition, signaling the Broadway community opposes a plan to bring a gaming venue to the neighborhood. IATSE, which includes Local One stagehands, Local 764...
Bally’s Soars After Accepting Increased Takeover Bid From Standard General
Shares of Bally’s (NYSE: BALY) are higher by more than 25% in late trading after the regional casino operator accepted an increased takeover offer from hedge fund Standard General. The acquisition bid values the gaming company at $18.25 per share, a more...
Churchill Downs Plans Grandstand, Pavilion Renovation at Kentucky Derby Track
Churchill Downs (NASDAQ: CHND) said it plans to spend $80 to $90 million to renovate the grandstand at its eponymous Kentucky racetrack. Construction on the Grandstand Club and Pavilion is slated to start next month with the enhancements expected to be completed...
FTC Investigation Could Be Thwarted by Bill Moved by Pol Receiving MGM Campaign Cash
A spending bill approved by the House Appropriations Committee contains a provision that could stymie the Federal Trade Commission’s (FTC) investigation into the September 2023 cybersecurity incident that temporarily crippled the casino giant’s domestic operations. The bill was advanced by a Republican...
Fanatics Denies Report of Rubin Mulling Equity Sale
Fanatics denied a report that said Chairman and CEO Michael Rubin could be considering selling a stake of up to $1 billion in the privately held company. Citing unidentified sources in the world of private stock transactions, William Cohan reported for the...
Red Rock Slumps Following Q2 Earnings, Analysts Upbeat on Durango
Shares of Red Rock Resorts (NASDAQ: RRR) tumbled Wednesday despite solid second-quarter results as some analysts took issue with the stock’s rich valuation. The regional casino operator reported earnings per share of 59 cents on revenue of $486.4 million for the June...
Polymarket Activity Soars with Help from US Presidential Election
Polymarket, the internet-based marketplace that allows users to wager on everything from politics to pop culture to sports to weather, is experiencing soaring interest among users, much of which is supported by the US presidential election. While 38 states and Washington, DC...
Gaming Tech Earnings Outlook: Solid Trends, Encouraging M&A Signs, Says Analyst
Second-quarter earnings season is rolling along and gaming technology companies will soon take their turns in the earnings confessional. The trends are expected to be solid though not spectacular. In a note to clients previewing upcoming reports from gaming device manufacturers, Stifel...
Citadel Increases Investment in Sphere Entertainment
Citadel Advisors, the hedge fund controlled by Ken Griffin, more than tripled its investment in Sphere Entertainment (NYSE: SPHR). A Schedule 13 G filing with the Securities and Exchange Commission (SEC) indicates Citadel has purchased more than 900,000 shares of Sphere since...
