4511 stories by Todd Shriber
Golden Entertainment Could Use Route Sale Cash to Boost Pahrump Casinos
In March of this year, Golden Entertainment (NASDAQ: GDEN) announced the sale of its distributed gaming operations in Montana and Nevada to privately held J&J Ventures Gaming. That transaction, which was recently approved by Nevada gaming regulators, garnered a price tag of...
Tilman Fertitta Bullish on DraftKings, Wynn Heading Into 2024
Tilman Fertitta controls the growing Golden Nugget casino empire. But he’s constructive on a pair of other gaming equities as 2024 looms. In an interview with CNBC’s Brian Sullivan, Fertitta waxed bullish on DraftKings (NASDAQ: DKNG) and Wynn Resorts (NASDAQ: WYNN) --...
Sports Betting Can Weather Pullback in Consumer Spending
Wagering-related expenditures, whether allocated to slot machines, table games, or sports wagering, epitomize consumer discretionary spending. That implies that if consumer spending retreats in a material fashion, there’s potential vulnerability for gaming companies. Prior recessions confirm as much, though broadly speaking, the...
Las Vegas Sands, MGM Could Be 2024 Consumer Cyclical Stars
As highlighted by the 40% returned this year by the S&P 500 Consumer Discretionary Index, consumer cyclical equities, including select gaming stocks, performed well in 2023. Some analysts believe sequels are possible next year. That could benefit some casino stocks, including Las...
Genius Sports Tagged with Outperform Rating at Macquarie
Sports betting data provider Genius Sports (NYSE: GENI) closed modestly higher Thursday on above-average volume after the stock earned some sell-side praise. In a new report to clients, Macquarie analyst Chad Beynon initiated coverage of the stock with an “outperform” rating and...
ESPN Bet Seen Bringing More Women to Sports Wagering
Penn Entertainment’s (NASDAQ: PENN) recently launched ESPN Bet mobile sports wagering application may be luring more casual bettors and women to the world of sports betting, thus growing the market. That’s the take of Bank of America analyst Shaun Kelley, who in...
Las Vegas Sands Added to Deutsche Bank Fresh Money List
Las Vegas Sands (NYSE: LVS) was added to Deutsche Bank’s “Fresh Money List” for the first quarter of 2024. It is a group of stocks on which the research firm has high convictions entering the new year. The largest casino operator by...
Entain Could Sell BetMGM Stake or Itself to MGM, Says Jefferies Analyst
Amid the recent departure of CEO Jette Nygaard-Andersen and increased action in the stock by activist investors, the time could be appropriate for Entain Plc (OTC: GMVHF) to consider dramatic action. That’s the take of Jefferies analyst James Wheatcroft. In a new...
Durango Casino Off to Fast Start, Small Risk of Red Rock Cannibalization, Say Analysts
Red Rock Resorts’ (NASDAQ: RRR) newly minted Durango Casino & Resort in Southwest Las Vegas is off to an impressive start following its December 5 debut, according to analysts that cover the gaming company. The $750 million venue aims to fill a...
Churchill Downs Buying $123.75M of Own Shares from Duchossois Group
Churchill Downs (NASDAQ: CHDN) announced Monday that it will buy back one million of its shares for $123.75 apiece from an affiliate of the Duchossois Group. That values the transaction at $123.75 million, and the per-share price represents a discount from Monday’s...
