4005 stories by Todd Shriber
MGM Resorts (NYSE: MGM): IAC Now Owns 20% International Shares
Barry Diller’s IAC/InterActiveCorp (NASDAQ: IAC) now controls 20% of MGM Resorts International’s (NYSE: MGM) shares outstanding, making the conglomerate by far the largest investor in the casino giant. In his first-quarter letter to investors, which coincided with the company’s earnings report out...
Red Rock Shares Slump on Durango Cannibalization Concerns
Shares of Red Rock Resorts (NASDAQ: RRR) tumbled Wednesday after the casino operator delivered first-quarter revenue that missed analyst estimates while noting the new Durango Casino & Resort in Southwest Las Vegas has pilfered business from its other properties. In midday trading,...
Wynn Sees UAE Spend of $900M, Confirms Interest in Thailand Casino
Wynn Resorts (NASDAQ: WYNN) expects to contribute approximately $900 million to the Wynn Al Marjan Island integrated resort in Ras Al Khaimah, United Arab Emirates (UAE). That’s according to comments made by Craig Billings on the gaming company’s first-quarter earnings conference call...
Virgin Taking Over Las Vegas Casino Ops, Mohegan Out
Virgin Hotels Las Vegas and Mohegan Gaming & Entertainment announced on Tuesday that Virgin Las Vegas is entering a “transition period,” which will ultimately result in Virgin taking over casino operations at the off-Strip property. Following the conclusion of that transition, Mohegan...
Genting Could Get Thailand Boost, Faces New York Headwinds, Says Research Firm
Genting Group could benefit from the surprisingly efficient pace at which Thailand is considering casino regulations, but the opposite scenario in New York could be a headwind to the Malaysian gaming giant. That’s the take of Nomura, which believes Genting is likely...
Wynn Making Progress on UAE Build, Tower Could Be Finished in Late 2025
Wynn Resorts (NASDAQ: WYNN) provided an update on its Wynn Al Marjan Island integrated in Ras Al Khaimah, United Arab Emirates (UAE), noting that the 300-meter-tall resort tower could be topped off in the fourth quarter of 2025. Construction of the property,...
Everi Scraps Buyback Plan, Could Pay Special Dividend
Everi Holdings (NYSE: EVRI) announced Monday that it's ending a previously announced $130 million share repurchase program and that it could consider paying a special dividend as a way of deploying the capital remaining on the buyback plan. About a year ago,...
DraftKings Stock Surges as Analysts Rush to Lift Price Targets
Following a surprise sell-off Friday on the back of a strong first-quarter earnings report, DraftKings (NASDAQ: DKNG) recouped those losses Monday as a slew of analysts boosted price targets on the high-flying stock. On above-average volume, DraftKings gained 5.4% to start the...
Churchill Downs Says Kentucky Derby Betting Toppled Records
Shares of Churchill Downs (NASDAQ: CHDN) notched some upside Monday after the gaming company said wagering on Saturday’s Kentucky Derby hit an all-time high. That was true of the Kentucky Derby Day program and the entire slate of Derby Week offerings. Mystik...
1 Main Capital Bullish on Caesars Entertainment Stock
Shares of Caesars Entertainment (NASDAQ: CZR) are down 24.64% year-to-date while the S&P 500 is higher by 7.57%, but some members of the buy-side community are enthusiastic about the casino operator’s prospects. In a recent letter to clients, 1 Main Capital founder...
