5251 stories by Todd Shriber
Light & Wonder Leverage Declining, Credit Outlook Stable
Light &Wonder’s (NYSE: LNW) efforts to reduce leverage are paying dividends with Fitch Ratings recently affirming the gaming device manufacturer’s credit grade of “BB” with a “stable” outlook. Helped by the recent reunification with social casino developer SciPlay, Light & Wonder’s free...
Bragg Gaming Soars as Investor Pushes for Sale
Shares of Bragg Gaming (NASDAQ: BRAG) soared Wednesday after an investor pushed the company to consider strategic alternatives, including a possible sale. Raper Capital founder Jeremy Raper, who oversees entities managing 375K shares of the gaming company, penned a letter to Bragg...
Entain Draws Activist Action, New Investors Want Ricky Sandler on Board
The U.S.-listed shares of Entain Plc (OTC: GMVHY) rallied Wednesday following reports that activist investors recently built stakes in the Coral owner. Dendur Capital and Sached Heam Capital, two New York-based hedge funds, amassed positions in the gaming company. They are believed...
Las Vegas Grand Prix Most-Wagered F1 Race in BetMGM History
Last Saturday’s inaugural Las Vegas Grand Prix was the most bet-on Formula One (F1) race in the history of BetMGM. The race was won by Dutchman Max Verstappen, F1's three-time defending champion. Verstappen generated the largest individual wager at BetMGM, as one...
Wynn Resorts Credit Rating Upgraded by S&P, Still Junk Grade
Wynn Resorts' (NASDAQ: WYNN) credit rating was upgraded one notch to “BB-“ from “B+” by Standard Poor’s (S&P). The same action was applied to Wynn Macau's corporate credit profile. With the move to “BB-“, Wynn’s credit grade is still three notches below...
Marriott Planning New Hotel Near Wynn UAE Casino Resort
Marriott International recently unveiled plans for the JW Marriott Al Marjan Island Resort and JW Marriott Residences Al Marjan Island, located near the under-construction Wynn Al Marjan Island in the United Arab Emirates (UAE). The Marriott development carries an estimated price tag...
Sports Betting Seen as Best Hope for Georgia Gaming Expansion
If Georgia lawmakers approve gaming expansion in the state next year, sports betting is likely to carry the day, likely leaving casinos and pari-mutuel behind. According to polls taken early this year, votes in the Southern state favor both casinos and sports...
Penn Entertainment Stock Soars on ESPN Bet Enthusiasm
Penn Entertainment (NASDAQ: PENN) ranked as one of Monday’s best-performing gaming stocks amid enthusiasm for the newly launched ESPN Bet mobile sports wagering application. The regional casino operator launched ESPN Bet in 17 states on November 15 with its new iGaming brand,...
Sands Could Face Protracted Legal Battle in Bid for New York Casino
Las Vegas Sands could be in for a prolonged legal tussle as part of its plans to bring a $4 billion casino hotel at the site of the Nassau Veterans Memorial Coliseum in Uniondale, NY. Earlier this month, the appellate division of...
Macau Casino Debt Lures Bond Investors
Amid a shift away from China’s battered property market, bond investors in Asia and other parts of the world are increasingly flocking to debt issued by Macau casino operators. The bulk of Macau gaming companies carry junk ratings, meaning market participants take...
