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Todd Shriber
5708 stories by Todd Shriber
Bally’s Soars After Accepting Increased Takeover Bid From Standard General
Shares of Bally’s (NYSE: BALY) are higher by more than 25% in late trading after the regional casino operator accepted an increased takeover offer from hedge fund Standard General. The acquisition bid values the gaming...
Churchill Downs Plans Grandstand, Pavilion Renovation at Kentucky Derby Track
Churchill Downs (NASDAQ: CHND) said it plans to spend $80 to $90 million to renovate the grandstand at its eponymous Kentucky racetrack. Construction on the Grandstand Club and Pavilion is slated to start next month...
FTC Investigation Could Be Thwarted by Bill Moved by Pol Receiving MGM Campaign Cash
A spending bill approved by the House Appropriations Committee contains a provision that could stymie the Federal Trade Commission’s (FTC) investigation into the September 2023 cybersecurity incident that temporarily crippled the casino giant’s domestic operations....
Fanatics Denies Report of Rubin Mulling Equity Sale
Fanatics denied a report that said Chairman and CEO Michael Rubin could be considering selling a stake of up to $1 billion in the privately held company. Citing unidentified sources in the world of private...
Red Rock Slumps Following Q2 Earnings, Analysts Upbeat on Durango
Shares of Red Rock Resorts (NASDAQ: RRR) tumbled Wednesday despite solid second-quarter results as some analysts took issue with the stock’s rich valuation. The regional casino operator reported earnings per share of 59 cents on...
Gaming Tech Earnings Outlook: Solid Trends, Encouraging M&A Signs, Says Analyst
Second-quarter earnings season is rolling along and gaming technology companies will soon take their turns in the earnings confessional. The trends are expected to be solid though not spectacular. In a note to clients previewing...
Citadel Increases Investment in Sphere Entertainment
Citadel Advisors, the hedge fund controlled by Ken Griffin, more than tripled its investment in Sphere Entertainment (NYSE: SPHR). A Schedule 13 G filing with the Securities and Exchange Commission (SEC) indicates Citadel has purchased...
Wynn New York Casino Plan Draws Politicians’ Rebuke
Politicians representing the West Side of Manhattan are voicing opposition to Related Cos.’ development plan for the High Line area, which includes a Wynn Resorts casino hotel. The gaming venue is part of a broader...
Musberger Media Buying VSiN from DraftKings
Just over three years after acquiring the Vegas Sports Information Network (VSiN) from Musburger Media, DraftKings (NASDAQ: DKNG) is selling the sports betting radio network back to the original owner. Financial terms of the transaction...
Churchill Downs Price Target Lifted Ahead of Q2 Earnings
Churchill Downs (NASDAQ: CHDN) drew an upward price target revision ahead of its second-quarter earnings report scheduled for July 24 after the close of US markets. Stifel analyst Jeffrey Stantial cited state-level data indicating the...
