5449 stories by Todd Shriber
Sands, Wynn Among Goldman’s Top Sharpe Ratio Stocks
Goldman Sachs rebalanced its “high Sharpe Ratio” basket, a group of S&P 500 components with strong risk-adjusted return prospects, and three gaming equities made the cut. That trio is comprised of Las Vegas Sands (NYSE: LVS), MGM Resorts International (NYSE: MGM), and...
Penn Downgraded as Analyst Sees Little Hope of Near-Term Sale
Shares of Penn Entertainment (NASDAQ: PENN) slumped Tuesday after an analyst downgraded the stock, in part citing long odds that the regional casino operator sells itself over the near term. In a note to clients on Tuesday, Raymond James RJ Milligan lowered...
VICI Properties Gets Analyst Nod Ahead of Earnings Update
Shares of VICI Properties (NYSE: VICI) rallied Monday after Jefferies analyst David Katz reiterated a bullish view on the real estate investment trust (REIT) ahead of its second-quarter earnings report. Katz said he and his team updated their models on VICI to...
MGM Acquiring Tipico’s US Sportsbook Operations
MGM Resorts International (NYSE: MGM) announced that it's acquiring the US iGaming and sportsbook operations of Tipico Group. Financial terms of the transaction weren’t revealed. The Las Vegas-based casino giant said its LeoVegas Group unit is the entity acquiring the aforementioned Tipico...
Red Bull in Mix for Las Vegas NBA Franchise
Red Bull GmbH is looking to expand its sports empire and that could reportedly include acquiring a new NBA franchise, potentially in Las Vegas. Unidentified sources close to the matter told Bloomberg that Red Bull is in early talks about buying an...
Penn Entertainment Pops on Report of $9 Billion Offer by Boyd Gaming
Shares of Penn Entertainment (NASDAQ: PENN) were halted late Thursday and subsequently rallied following a report indicating that Boyd Gaming (NYSE: BYD) may be preparing a takeover bid of more than $9 billion for the regional casino operator. Citing unidentified sources, Reuters...
Sports Betting Taxes: More Coming, but Not In Illinois Style
Illinois recently passed a graduated tax scheme for online sportsbook companies operating in the state, meaning the largest by revenue will pay significantly more taxes than their smaller counterparts. That tax hike, which goes into effect on July 1, sparked fears of...
FTC Files Petition to Force MGM Resorts to Comply with Cyberattack Demands
Just days after MGM Resorts International (NYSE: MGM) sued the Federal Trade Commission (FTC) in a bid to block the commission’s demands for records pertaining to the 2023 cyberattack that crippled the gaming company, the regulator fired back, filing a petition to...
Wynn Can Self-Fund UAE Casino Resort, Says Analyst
Wynn Resorts (NASDAQ: WYNN) is capable of self-funding its portion of the Wynn Al Marjan Island integrated resort in Ras Al Khaimah, United Arab Emirates (UAE). Earlier this year, the gaming company, which is a minority investor in the project, forecast expenditures...
Nassau County to Hold Hearing on Sands Casino Lease Transfer
Nassau County and Las Vegas Sands will get another shot to rectify issues surrounding the county’s transfer of lease rights on Nassau Hub to the gaming company later this week at a public hearing conducted by the Nassau County Planning Commission. The...
