5402 stories by Todd Shriber
New York Casino Bidders Lack Backup Plans
For many of the companies attempting to procure one of the three downstate gaming permits New York will eventually award, it’s “casino or bust.” Said another way, there are not backup plans and the vast majority of the firms vying for those...
Sportsbook Operators Pared TV Advertising for First Time in 2023
Soon after the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) in 2018, sportsbook television commercials became commonplace. So much so that sports fans and regulators in some jurisdictions took notice, complaining that the gaming industry was going...
DraftKings Posts Surprise Q1 EPS Profit, Again Lifts 2024 Guidance
DraftKings (NASDAQ: DKNG) delivered first-quarter results Thursday, telling investors it posted an unexpected first-quarter earnings per share (EPS) profit while again lifting 2024 revenue guidance. On the basis of non-generally accepted accounting principles (non-GAAP), the sportsbook operator earned three cents per share...
Flutter Investors Approve Primary Listing Move to NYSE
Flutter Entertainment (NYSE: FLUT) shareholders on Wednesday approved the gaming company’s plan to move its primary listing to the New York Stock Exchange (NYSE) from the London Stock Exchange (LSE). Shares of the FanDuel parent have been trading in New York since...
Bally’s Not Rushing Tropicana Redevelopment, Sees Chicago Casino Opening Q3 2026
On its first-quarter earnings conference call Wednesday evening, Bally’s (NYSE: BALY) told analysts it’s not rushing the issue of redeveloping the site of the Tropicana Las Vegas, and that it expects its permanent Chicago casino will open in the third quarter of...
VICI to Provide up to $700M for Venetian Las Vegas Enhancements
VICI Properties (NYSE: VICI) said late Wednesday it will provide up to $700 million in financing for enhancements at the Venetian Resort Las Vegas. That capital will be provided through VICI’s Partner Property Growth Fund strategy and was announced on the day...
MGM Q1 Results Hit Record Helped by Las Vegas, Marriott Partnership
MGM Resorts International (NYSE: MGM) delivered record first-quarter results on Wednesday, helped in part by the operator’s Las Vegas Strip casino hotels and a recently launched points partnership with Marriott International (NASDAQ: MAR). The Aria operator said it generated earnings per share...
Gaming CEOs Mostly Bullish, But See Some Challenges
Gaming chief executive officers (CEOs) are mostly constructive on the near-term outlook for the industry while holding more enthusiastic attitudes about long-term trends. A recent survey by the American Gaming Association (AGA) indicates 94% of gaming CEOs queried view the current business...
Tipico Mulling Sale of US Sportsbook, MGM Rumored Suitor
German sportsbook operator Tipico is reportedly evaluating a sale of its US operations and rumors are circulating that MGM Resorts International (NYSE: MGM) could be a suitor. Tipico is majority owned by CVC Capital Partners and some media reports suggest the private...
Cracks Emerging on Las Vegas Strip Says Analyst
Las Vegas Strip casino hotels have experienced a torrid pace of recovery following the darkest days of the coronavirus pandemic, but there are signs lethargy is setting in. In a note to clients on Tuesday, Deutsche Bank analyst Carlo Santarelli said some...
