5588 stories by Todd Shriber
Light & Wonder ‘Dragon Train’ Decline Overdone, Stock Cheap, Says Analyst
Shares of Light & Wonder (NASDAQ: LNW) tumbled last week following a legal ruling pertaining to its “Dragon Train” series of slot machines, but one analyst argues the decline was too much, too soon, and that the stock is undervalued. In a...
Wynn UAE Casino Could Drive $350M in Cash Flow, Says Analyst
Wynn Resorts’ (NASDAQ: WYNN) recently approved casino resort in the United Arab Emirates (UAE) could be a significant contributor to the operator’s long-term free cash flow. In a new report to clients, CBRE Equity Research analyst John DeCree estimates that at maturity,...
Penn Entertainment Lifts Guidance for Interactive Unit
Penn Entertainment (NASDAQ: PENN) told investors Monday that its interactive unit, which includes ESPN Bet, will post a lower-than-expected third-quarter loss. In a Form 8-K filing with the Securities and Exchange Commission (SEC), the regional casino operator said its digital gaming business...
Flutter Buyback Shouldn’t Imperil Credit Rating, Says Moody’s
Flutter Entertainment’s (NYSE: FLUT) recently announced that plans to repurchase up to $5 billion of its shares over the next several years are unlikely to endanger its credit rating. That’s the take of Moody’s Investors Service, which rates the FanDuel parent “Ba1,”...
JPMorgan Buys Big Voting Block of Star Entertainment Shares
JPMorgan Chase & Co. (NYSE: JPM) acquired a sizable equity stake in downtrodden Australian casino operator Star Entertainment. According to a recent filing with Australian securities regulators, the New York-based bank purchased 5.47% of the gaming company’s voting equity. News of the...
Light & Wonder CEO Says Company Pulling ‘Dragon Train’ Slots in North America
Shares of Light & Wonder (NASDAQ: LNW) jumped 4.39% on above-average volume Friday after CEO Matt Wilson updated investors on the company’s next steps relating to “Dragon Train” litigation. In late September, Aristocrat Technologies won a preliminary injunction that bars Light &...
James Bay Sues Wynn Resorts, Latest in David Bunevacz Saga
James Bay Resources Ltd., a Canadian natural resources company, has filed a statement of claim in Ontario’s Superior Court of Justice against Wynn Resorts -- the latest legal move stemming from the saga of conman David Bunevacz. The Toronto-based company said it...
BetMGM Making iGaming Strides
As measured by downloads of mobile applications, BetMGM is making progress in getting its online casino offering in front of more bettors. Citing Sensor Tower data, Eilers & Krejcik Gaming (EKG) noted that through the first three weeks of the 2024 NFL...
Macau Casino Stocks Have More Room to Rally, Says Analyst
Macau casino stocks surged last week with the help of monetary easing by the People’s Bank of China (PBOC) and fresh stimulus measures, but one analyst sees more upside ahead for the group. In a new report to clients, CBRE Equity Research...
Thailand Confirms It Wants Global Casino Giants to Bid for Licenses
A Thai finance leader is pushing policymakers to ready casino gaming legislation by the middle of this month, and he’s making clear it should include provisions to allow global companies to bid for licenses in the Southeast Asian nation. Deputy Finance Minister...
