4499 stories by Todd Shriber
Las Vegas Locals Casino Market Masking Weaknesses, Says Analyst
On the surface, the Las Vegas locals' gaming market appears solid. Year to date, gross gaming revenue (GGR) is up 6%, which has prompted sell-side analysts to wax bullish on Boyd Gaming (NYSE: BYD) and Red Rock Resorts (NASDAQ: RRR), but at...
Gaming and Leisure Upgraded on Pipeline, Rate Outlook
Casino landlord Gaming and Leisure Properties (NASDAQ: GLPI) traded slightly higher Wednesday after an analyst upgraded the stock. In a new report to clients, Deutsche Bank analyst Carlo Santarelli upgraded the real estate investment trust (REIT) to “buy” from “hold” while boosting...
Bally’s Investors Approve Standard General Takeover
Bally’s (NYSE: BALY) announced Tuesday that its shareholders approved a previously announced takeover by Standard General, the hedge fund that’s the biggest investor in the regional casino operator. In March, Standard General, which is controlled by Bally’s Chairman Soo Kim, floated a...
Las Vegas Sands Seeking $9 Billion Loan for Singapore Expansion
Las Vegas Sands’ (NYSE: LVS) Marina Bay Sands is rumored to be seeking a $9 billion loan to pay for expansion plans at the prestigious Singapore casino resort. Should the operator procure financing at or close to that amount, it would be...
Codere Online Files Appeal on Nasdaq Delisting Ruling
Codere Online Luxembourg (NASDAQ: CDRO), the online betting arm of Spanish gaming giant Codere, said it received a delisting notice from the Nasdaq Stock Market, adding it filed an appeal of that decision. Delisting of stocks from major exchanges often occurs due...
VICI Makes Jump to IG Status Following Moody’s Upgrade
Casino landlord VICI Properties (NYSE: VICI) landed another investment-grade credit rating after Moody’s Investors Service upgraded the real estate investment trust (REIT) on Monday. In a report out on Monday, the agency lifted its rating on the Caesars Palace owner to “Baa3”...
Sportsbook Betting Pauses on College Games Last Longer Than Those on NFL Games
It’s common for sportsbook operators to temporarily pause acceptance of wagers on certain games if large, odds-altering money has come in on those contests. There’s no uniformity for how long these halts last, but recent trends suggest pauses on college football games...
Cisco, MGM Reach Wide-Ranging Technology Agreement
Cisco (NASDAQ: CSCO) and MGM Resorts International (NYSE: MGM) today announced an expansive technology agreement under which the casino operator gains access to much of Cisco’s software portfolio, including tools aimed at enhancing customer experiences. The companies said the contract spans 5.5...
FanDuel, MLBPA Settle NIL Suit
The Major League Baseball Players Association (MLPBA) settled litigation with FanDuel over the sportsbook operator’s alleged unauthorized use of union members’ name, image, and likeness (NIL). In September, the union representing the league’s athletes sued multiple sports wagering companies in New York...
Fertitta Unlikely to Pursue Wynn Takeover, Says Analyst
Tilman Fertitta increased his stake in Wynn Resorts (NASDAQ: WYNN) to nearly 10% of the shares outstanding, but one analyst believes the Golden Nugget chief executive officer is unlikely to purse an acquisition of his rival. In a new report to clients,...
