5136 stories by Todd Shriber
Penn Entertainment Strategic Review Unlikely, Says Analyst
Shares of Penn Entertainment (NASDAQ: PENN) slumped Friday after a sell-side analyst said the regional casino operator is unlikely to commence a strategic review over the near term, potentially dashing hopes the company is a takeover target. On volume that was nearly...
DraftKings One of Best-Performing SPAC Stocks
DraftKings’ (NASDAQ: DKNG) journey as a public company started in late 2019 when it announced a merger with a special purpose acquisition company (SPAC). Since then, the online sportsbook giant has been one of the best-performing stocks, regardless of industry, to go...
Genting Still Mulling New York Stock Listing
Genting Malaysia Bhd is still considering a New York equity listing that would be comprised of an entity holding some of the company’s US gaming assets. The long-talked-about move is viewed as a potential avenue for delivering value to shareholders and was...
Codere Announces Fifth Restructuring to Cut Debt by 92%
Codere, the Spanish gaming giant that’s the parent of Codere Online Luxembourg (NASDAQ: CDRO), announced a fifth restructuring agreement Thursday that will result in the elimination of 92% of its debt. Under the terms of the pact with creditors, the gaming company’s...
Light & Wonder Unveils $1 Billion Share Buyback Plan
Shares of Light &Wonder (NASDAQ: LNW) perked up a bit during Thursday’s after-hours trading session after the slot machine manufacturer announced a $1 billion share repurchase program. The newly announced buyback plan replaces a previously deployed $750 million repurchase effort that was...
Genting Bullish on New York, RWNY Casino License Prospects
At its annual meeting this week, Genting Malaysia Bhd sound an optimistic tone on its operations in New York, including the prospects for Resorts World New York landing one of the three downstate casino licenses the state has yet to award. In...
Casino Investors Taking Hardline Against Smoking
More major investors are pressing publicly traded casino operators to move to smoke-free environments, and the 2024 proxy is evidence of those elevated efforts. This proxy season has seen efforts by large shareholders of Bally’s (NYSE: BALY), Boyd Gaming (NYSE: BYD), and...
After DraftKings, FanDuel, No Second Tier in Online Sports Betting
It’s been widely noted that in the world of online sports betting, DraftKings (NASDAQ: DKNG) and FanDuel control 70% or more of the market, and while they don’t lack for competitors, some analysts believe there’s not a viable second tier of rivals...
Playstudios to Purchase $24.6M Worth of Shares Held by Microsoft
Shares of social casino developer Playstudios (NASDAQ: MYPS) rallied in Tuesday’s after-hours trading session after the company announced that it's purchasing $24.6 million of its equity held by Microsoft (NASDAQ: MSFT). While not a share repurchase program in the traditional sense, the...
Bally’s Sounds Positive Tone on Bronx Casino Prospects
Although it still needs some help from some politicians, Bally’s (NYSE: BALY) is bullish on its prospects to land a permit to develop a casino hotel in the Bronx, NY. Last year, the Rhode Island-based regional casino operator acquired the lease rights...
