5254 stories by Todd Shriber
Penn CEO Quashes Takeover Speculation on Earnings Call
Penn Entertainment (NASDAQ: PENN) delivered second-quarter results earlier Thursday and recent speculation that the regional casino operator is a takeover target was briefly addressed on the company’s conference call with analysts. Regarding consolidation rumors of which their firms at the center, the...
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...
Codere Online Trouncing de-SPACed Gaming Competition
Broadly speaking, it’s been a rough year for gaming equities, including those that came public via reverse mergers with special purpose acquisition companies (SPACs), but Codere Online Luxembourg (NASDAQ: CDRO) stands out. The Spanish sportsbook operator, which went public on Dec. 1,...
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...
Rush Street Interactive Takes Shot at DraftKings, Says No Surcharge
In a clear shot at rival DraftKings (NASDAQ: DKNG), Rush Street Interactive (NYSE: RSI) announced Monday it has no plans to implement a surcharge on sports wagers. Rush Street Interactive’s proclamation arrived after DraftKings said last Thursday that it’s planning to launch...
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%...
