4505 stories by Todd Shriber
Light & Wonder Stock Has Upside Potential, Says Analyst
Buoyed by a streamlined business model and a robust research and development budget, Light & Wonder (NASDAQ: LNW) stock could deliver significant gains. That’s the take of Morningstar analyst Angus Hewitt, who placed a price target of $87 on the stock in...
Entain Shares Plunge on Tepid iGaming Revenue Forecast
Entain Plc (OTC: GMVHY) is among Monday’s worst-performing gaming equities after the Ladbrokes owner issued a disappointing 2023 net gaming revenue (NGR) forecast, citing softness in online gaming. The company, which owns half of BetMGM, also told investors that regulatory headwinds persisted...
26 Capital to Liquidate Following Failed Okada Manila Merger
Jason Ader’s 26 Capital (NASDAQ: ADER) will liquidate after the special purpose acquisition company (SPAC) lost a recent court case related to efforts to merge with Okada Manila. The blank check company announced plans to liquidate a trust account on Sept. 21....
Gaming and Leisure Properties Bonds Steady, Says Research Firm
As tenant diversification increases, corporate debt issued by Gaming and Leisure Properties (NASDAQ: GLPI) could be attractive to some fixed-income investors, though upside could be limited. That’s the take of Gimme Credit analyst Kim Noland, who, in a new report to clients,...
Macau Casino Stocks Worth Revisiting After Declines, Says Analyst
Macau casino stocks have been sliding since early August thanks to fears regarding China’s slumping economy and a recent short closure of gaming venues owing to a typhoon. But at least one analyst believes stocks have reached the point that the group...
Las Vegas Grand Prix Faces Massive Cost Overruns
Inflation bites and Formula One Group (NASDAQ: FWONA) is finding that out the hard way in Las Vegas. Scheduled for November 18, the company has reportedly spent more than $400 million to make the Las Vegas Grand Prix happen. That means costs...
Casino Ransomware Attacks Could Stoke Higher Insurance Costs
Following a recent ransomware attack, Caesars Entertainment (NASDAQ: CZR) announced in a regulatory filing that an unidentified insurance provider will cover the costs of a payment to cyber criminals. Analysts widely expect rival MGM Resorts International (NYSE: MGM) to soon make a...
Las Vegas Casino Could See Boost as Business Travel Rebounds
Global business travel isn’t all the way back to pre-coronavirus levels. But it could get there as soon as next year, potentially providing a catalyst for Las Vegas casino hotel operators, particularly those with convention space on the Strip. In a recent...
MGM Has $200M Cyber Insurance Policy, Stock Can Recover, Says Analyst
MGM Resorts International (NYSE: MGM) announced Wednesday that operations at its U.S. casino hotels are back to normal. That's following a ransomware attack that commenced on September 10, and at least one sell-side analyst says the company’s financial exposure to the event...
Caesars, MGM Hacks Spur Uptick in Cybersecurity Interest by Casino Operators
After seeing two of their rivals, Caesars Entertainment and MGM Resorts International, victimized in ransomware attacks, more casino operators are looking to shore up their cybersecurity platforms. Those events, one of which compelled Caesars to pay the bad actors and the ongoing...
