5315 stories by Todd Shriber
Apollo Seeking $550 Million Venetian Dividend
Apollo Global Management (NYSE: APO) is asking Nevada regulators to approve a $550 million distribution from the Venetian on the Las Vegas Strip, which is operated by the private equity firm. On Wednesday, the Nevada Gaming Control Board (NGCB) approved the payout,...
Sphere Entertainment Lands Upgrade on Potential Economic Resilience
Shares of Sphere Entertainment (NYSE: SPHR) jumped 2.82% on Wednesday after the stock landed an upgrade from Seaport Research. In a note to clients, the research firm upgraded Sphere to “buy” from “neutral” with a price target of $48. That implies upside...
MGM, Red Rock Insiders Buy Stocks Amid Slumps
High-ranking executives at MGM Resorts International (NYSE: MGM) and Red Rock Resorts (NASDAQ: RRR) are buying shares in their companies as the stocks slump. New filings with the Securities and Exchange Commission (SEC) indicate at least three high-level MGM executives recently added...
Wynn Interested in Thailand Casino, Says UAE Resort Rapidly Progressing
Wynn Resorts (NASDAQ: WYNN) today said it would be interested in bidding for a casino permit in Bangkok while noting construction on its integrated resort in the United Arab Emirates (UAE) is progressing at a brisk pace. The Las Vegas-based company previously...
DraftKings Investors Express Dismay About Surcharge Gambit
A significant majority of DraftKings (NASDAQ: DKNG) shareholders aren’t happy about the gaming company’s plan to tax winning sports bets in Illinois, New York, Pennsylvania, and Vermont. That’s according to a recent Jefferies Equity Research report, which noted that 60% of surveyed...
Thailand Could Have 30-Year Casino Licenses, Opens Public Comment Period
Should the country formally approve casino resorts, Thailand could grant operators 30-year permits. That detail was included as part of broader draft rules the government there released for public comment lasting through Aug. 18. Gaming companies that are granted permits to operate...
DraftKings Sell-Off Could Spell Opportunity, Says Analyst
Last Friday, shares of DraftKings (NASDAQ: DKNG) slumped 9.78% after the company unveiled a plan to add a new levy on winning sports wagers in four states with high tax rates. That slide sent the stock to a weekly loss of 11.79%...
Wynn Resorts Stock Has Dubious August History
August is just two days old, but Wynn Resorts (NASDAQ: WYNN) has notched consecutive lower closes to start the month, indicating the stock could be poised to live up to a rough August track record. With the gaming equity trading at its...
VICI Declines Option to Buy Caesars Indiana Casinos
VICI Properties (NYSE: VICI) won’t exercise its rights to acquire the property assets of two Indiana gaming venues currently owned and operated by Caesars Entertainment (NASDAQ: CZR). On the company’s second-quarter earnings conference call late Wednesday, CEO Edward Pitoniak told analysts the...
DraftKings Unveils $1B Buyback, Bettor Surcharge in High-Tax States
DraftKings (NASDAQ: DKNG) told investors Thursday that it could repurchase up to $1 billion of its shares and that it will implement a surcharge on bettors in several states with high sports wagering taxes. The Boston-based gaming company said the surcharge will...
