5402 stories by Todd Shriber
MGM CEO Bill Hornbuckle Among US Bosses Who Met with Chinese Leader Xi
MGM Resorts International (NYSE: MGM) CEO Bill Hornbuckle was a part of a group of chief executive officers of U.S.-based companies that met with Chinese President Xi Jinping in Beijing on Wednesday. Other participants included Blackstone Group CEO Stephen Schwarzman, Chubb CEO...
Long Island Casino Opponents Love New York Licensing Delays
On Monday, reports surfaced that it’s likely to be late 2025 before the New York Gaming Commission (NYGC) makes decisions on the winners of three downstate casino permits. That’s much to the liking of groups opposing a gaming venue on Long Island....
Bally’s Credit Rating, Outlook Downgraded by Moody’s
Bally’s (NYSE: BALY) credit rating was downgraded further into junk territory and the outlook on that grade was lowered to “negative” from “stable” by Moody’s Investors Service on Monday. The research firm now rates the regional casino operator “B2” down from “B1.”...
MyPrize Crypto Casino Raises $13M, Enterprise Value Soars to $140M
Cryptocurrency casino operator MyPrize said Tuesday it raised $13 million across two financing rounds, bringing its enterprise value to $140 million. That valuation is based on the company’s “fully diluted equity capitalization, plus the implied fully diluted value of warrant.” Founded by...
Churchill Downs, Penn Entertainment Lauded in New Coverage by Mizuho
Churchill Downs (NASDAQ: CHDN) and Penn Entertainment are among the batch of gaming stocks viewed favorably in new coverage by Mizuho. Analyst Ben Chaiken initiated coverage of more than a half dozen gaming names, including Churchill and Penn, citing the expansion of...
Bragg Gaming Forms Committee to Explore Possible Sale
Bragg Gaming (NASDAQ: BRAG) announced on Tuesday the formation of a special committee to explore strategic alternatives, including a potential sale. Comprised of board members, the committee will be led by Director Don Robertson. It arrives with the small-cap gaming stock up...
Black Market Sports Betting in US Has No Panacea in PASPA
In the roughly six years since the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA), sportsbook operators have frequently sold states on potential reduction or outright elimination of illicit sports wagering markets as a reason to legalize the...
Internet Betting Sites, Apps Fertile Ground for Fraud, Says TransUnion
Digital scammers are increasingly focusing on internet betting sites and mobile applications, with the U.S. being one of the prime jurisdictions for their misdeeds, according to a new study from TransUnion. In its recently published State of Omnichannel Fraud Report, TransUnion noted...
MGM China, Wynn Macau Deliver Unexpected Special Dividends
Heading into 2024, it was widely expected that most, if not all, of the six Macau concessionaires would delay the resumption of dividends. It was expected to fortify their balance sheets and conserve capital for government-mandated nongaming expenditures. MGM China and Wynn...
Smart Video Poker Players Hamper Casino Profits, Says Study
A small cohort of video poker bettors known as advantage players (APs) have the skills to be a drag on casino profits, according to a new study. Acres Manufacturing Company, which manufactures next-generation customer loyalty technology and services for casino operators, leveraged...
