5210 stories by Todd Shriber
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...
Rush Street Interactive Mulls Potential Sale, May Have Contacted DraftKings
Shares of online gaming operator Rush Street Interactive (NYSE: RSI) rallied late Thursday on a report that the company is considering a sale and has reached out to multiple suitors, including DraftKings (NASDAQ: DKNG). Citing unidentified sources with knowledge of the situation,...
Washington, D.C. Bill Aims to Broaden Field of Mobile Sports Betting Apps
A Washington, D.C. City Council member introduced legislation that, if approved, would expand the number of mobile sports wagering applications available in the district. Council member Kenyan McDuffie (I-At Large) introduced the Sports Wagering Amendment Act of 2024 on Wednesday. A member...
MGM Contemplates Potential Sale of Massachusetts and Ohio Locations
MGM Resorts International (NYSE: MGM) is rumored to be mulling sales of the operating rights to its regional casinos in Massachusetts and Ohio. Citing unidentified sources with knowledge of the matter, Bloomberg reported the news earlier Wednesday, noting the sources said talks...
MGM Credit Rating Affirmed at Junk Status By Moody’s
MGM Resorts International’s (NYSE: MGM) noninvestment-grade credit rating of “B1” was affirmed by Moody’s Investors Service, which maintained a “stable” outlook on the gaming company’s credit profile. The “B1” grade is four notches into junk territory on Moody’s scale, and bonds with...
Sands CEO Robert Goldstein Offloads $5.23M in Stock Sale
Las Vegas Sands (NYSE: LVS) CEO Robert Goldstein recently sold 100K shares of the gaming company, grossing proceeds of $5.23 million. The sale occurred last Friday and pertained to stock owned by the Robert and Sheryl Goldstein Trust, according to a Form...
BetMGM, Marriott Bonvoy Team Up on Loyalty Points Deal
BetMGM and Marriott Bonvoy, the hotelier’s customer loyalty platform, are teaming up on a program that allows the gaming company’s clients to earn travel rewards. Bettors in the states in which BetMGM is operational can link their accounts with the online sportsbook...
Wynn’s Bold Bet: New York Casino Investment Set to Surpass $6B
Related Companies recently unveiled plans for a $12 billion expansion of Hudson Yards on Manhattan’s West Side. Of that sum, Wynn Resorts’ (NASDAQ: WYNN) proposed casino hotel would carry a price tag of $5.7 billion. That’s assuming the operator is successful in...
Wynn, Encore Lead Las Vegas Casino Rankings, New Properties Make the Cut
Wynn Resorts’ Wynn and Encore were named the top two Las Vegas casinos by a panel of Travel + Leisure experts, and a pair of new additions to the Sin City gaming scene also made the publication’s top 10 list. Topping Travel...
