5316 stories by Todd Shriber
Churchill Downs Plans Grandstand, Pavilion Renovation at Kentucky Derby Track
Churchill Downs (NASDAQ: CHND) said it plans to spend $80 to $90 million to renovate the grandstand at its eponymous Kentucky racetrack. Construction on the Grandstand Club and Pavilion is slated to start next month with the enhancements expected to be completed...
FTC Investigation Could Be Thwarted by Bill Moved by Pol Receiving MGM Campaign Cash
A spending bill approved by the House Appropriations Committee contains a provision that could stymie the Federal Trade Commission’s (FTC) investigation into the September 2023 cybersecurity incident that temporarily crippled the casino giant’s domestic operations. The bill was advanced by a Republican...
Fanatics Denies Report of Rubin Mulling Equity Sale
Fanatics denied a report that said Chairman and CEO Michael Rubin could be considering selling a stake of up to $1 billion in the privately held company. Citing unidentified sources in the world of private stock transactions, William Cohan reported for the...
Red Rock Slumps Following Q2 Earnings, Analysts Upbeat on Durango
Shares of Red Rock Resorts (NASDAQ: RRR) tumbled Wednesday despite solid second-quarter results as some analysts took issue with the stock’s rich valuation. The regional casino operator reported earnings per share of 59 cents on revenue of $486.4 million for the June...
Gaming Tech Earnings Outlook: Solid Trends, Encouraging M&A Signs, Says Analyst
Second-quarter earnings season is rolling along and gaming technology companies will soon take their turns in the earnings confessional. The trends are expected to be solid though not spectacular. In a note to clients previewing upcoming reports from gaming device manufacturers, Stifel...
Citadel Increases Investment in Sphere Entertainment
Citadel Advisors, the hedge fund controlled by Ken Griffin, more than tripled its investment in Sphere Entertainment (NYSE: SPHR). A Schedule 13 G filing with the Securities and Exchange Commission (SEC) indicates Citadel has purchased more than 900,000 shares of Sphere since...
Wynn New York Casino Plan Draws Politicians’ Rebuke
Politicians representing the West Side of Manhattan are voicing opposition to Related Cos.’ development plan for the High Line area, which includes a Wynn Resorts casino hotel. The gaming venue is part of a broader $12 billion development plan pitched by Related...
Musberger Media Buying VSiN from DraftKings
Just over three years after acquiring the Vegas Sports Information Network (VSiN) from Musburger Media, DraftKings (NASDAQ: DKNG) is selling the sports betting radio network back to the original owner. Financial terms of the transaction weren’t disclosed. DraftKings paid $70 million to...
Churchill Downs Price Target Lifted Ahead of Q2 Earnings
Churchill Downs (NASDAQ: CHDN) drew an upward price target revision ahead of its second-quarter earnings report scheduled for July 24 after the close of US markets. Stifel analyst Jeffrey Stantial cited state-level data indicating the gaming company’s live and historical (L&H) horseracing...
Cherokee Nation Chairman Says Not ‘Just Yet’ on Tribe Buying Las Vegas Casino
Cherokee Nation Entertainment, the casino gaming arm of the Native American tribe of the same name, doesn’t operate a Las Vegas venue, but it’s not opposed to the idea over the long-term. In remarks made earlier Saturday at the National Council of...
