3978 stories by Todd Shriber
Penn Entertainment Q4 Earnings Miss Estimates, Barstool Sportsbook Turns Profitable
Shares of Penn Entertainment (NASDAQ: PENN) slumped Thursday after the regional casino operator reported fourth-quarter results that missed Wall Street projections. However, a bright spot was its Barstool Sportsbook unit turning profitable in the final three months of 2022. The Ameristar operator...
Las Vegas Sands Alters $1.5B Credit Facility Further Delaying Dividend Restoration
Las Vegas Sands (NYSE: LVS) reached an agreement with lenders to amend select covenants in a $1.5 billion revolving credit facility -- a move that further delays the casino operator’s plans to restore its quarterly dividend. The Parisian Macau operator revealed the...
Thailand Casinos Could Nibble at Singapore Gaming Revenue
Should Thailand move forward with plans to potentially be the next hot Asia-Pacific gaming market, it could pilfer revenue from entrenched competitors, such as Malaysia and Singapore. That’s the call from Maybank IB Research. It notes casino resorts in Thailand would not...
Minnesota Mulls Another Sports Betting Bill
Minnesota isn't just the "Land of 10,000 Lakes." It's also the land of failed sports betting legislative efforts. But politicians in the state are giving it another go. Minnesota State Sen. Jeremy Miller (R-Winona) said Tuesday he’s planning to introduce the Minnesota...
DraftKings Reducing Staff by 3.5 Percent in Cost-Cutting Move
DraftKings (NASDAQ: DKNG) announced Wednesday it's laying off 140 employees, or about 3.5% of its workforce, in an effort to reduce costs. The Boston-based sportsbook operator didn’t specify in which areas those headcount reductions will occur. Nor did it mention the possibility...
MGM Resorts Enters Bloomberg Gender-Equality Index
In another sign of the casino behemoth’s ongoing environmental, social, and governance (ESG) efforts paying dividends, MGM Resorts International (NYSE: MGM) Tuesday announced its inclusion in the Bloomberg Gender-Equality Index. The benchmark is a basket of 483 companies that score well in...
Sands Taps Community College as Long Island Training Hub
Las Vegas Sands and Nassau Community College announced a public/private partnership that sets the stage for the school to be the gaming company’s training facility. That's assuming it’s successful in bringing a casino hotel to Long Island. Sands has a track record...
Mohegan Tribal Gaming Authority Halting SEC Filings
The Mohegan Tribal Gaming Authority (MTGA) announced Monday that it will no longer participate in the Securities and Exchange Commission’s (SEC) voluntary filing system. The tribal gaming giant didn’t give a specific reason for why it’s withdrawing from SEC filings. The move...
IRS Could Target Daily Fantasy Sports Winners Under American Rescue Plan
The American Rescue Plan Act (ARPA) was approved by congressional Democrats and signed by President Biden to provide financial assistance to Americans during the earlier days of the coronavirus pandemic. But it could be a drag on some daily fantasy sports (DFS)...
Georgia Voters Strongly Favor Addition of Casino Gaming
In bipartisan fashion, Georgia voters overwhelmingly support the idea of the state adding casinos, and even more believe voters should decide on the matter. A recent Public Opinion Strategies poll conducted via mobile phones queried 800 likely voters in the state. It...
