4173 stories by Todd Shriber
Penn National, Sands Stocks Could Experience Ides of July
The S&P 500 is coming off its worst first six-month start in 50 years, and gaming stocks weren’t immune to that carnage. Things may get worse for some gaming stocks before they get better. While the S&P 500 averaged a July gain...
Wynn Macau Licensing Agreement Limited to $74.5M
Wynn Macau has reached an agreement with Wynn Resorts (NASDAQ:WYNN) -- its US-based parent -- whereby the Chinese gaming entity’s licensing obligations to the Las Vegas company will be capped at $74.5 million. The accord pertains to the Macau operator’s rights to...
Caesars Wraps Up William Hill Asset Sale to 888, Will Allocate Cash to Paring Debt
Caesars Entertainment (NASDAQ:CZR) announced today that it closed the sale of William Hill’s international assets to 888 Holdings. After counting for fees and taxes, the US casino giant is garnering $730 million in net proceeds, meaning the gross sale price was around...
Oakland Votes to Reclassify Port, Deals Blow to Las Vegas A’s Hopes
On Thursday, the San Francisco Bay Conservation and Development Commission voted to alter the classification of a terminal at the Port of Oakland. That potentially deals a blow to Las Vegas’s hopes of being the next home of the Oakland Athletics. The...
Light & Wonder Accepting Lower Price on OpenBet Sale to Endeavor
Light & Wonder (NASDAQ:LNW) and Endeavor Group Holdings, Inc. (NYSE:EDR) are amending their accord pertaining to the previously announced sale of the OpenBet sports wagering business. It now indicates the seller will accept $800 million -- significantly lower than the original price...
Sands Rebound Needs Two More Years, Says Moody’s
Wary Las Vegas Sands (NYSE:LVS) investors waiting on the casino operator to regain its lost form may be waiting another two years. That according to Moody’s Investors Service, which says a full rebound for the Macau giant may not materialize until 2024....
Louisiana Moving Cash from Dormant Sports Betting Accounts to Unclaimed Property Fund
Louisiana will soon move cash from inactive sports wagering accounts to the state’s unclaimed property fund. That will potentially giving the state access to bettors’ forgotten funds. Under Act 510, which was signed into law by Gov. John Bel Edwards (D-LA) earlier...
Las Vegas Sands Among Top S&P 500 Spenders on Private Jets for Executives
Spending by S&P 500 companies on private air travel for top executives hit a record last year, and Las Vegas Sands (NYSE:LVS) was among the contributors to that trend. ISS Corporate Solutions, a unit of Institutional Shareholder Services -- an advisor to...
Gaming and Leisure Draws Praise for Rhode Island Casino Buy
Analysts are constructive on Gaming and Leisure Properties (NASDAQ:GLPI) buying two Rhode Island casinos and leasing those venues back to operator Bally’s (NYSE:BALY) -- a transaction that was announced late Tuesday. Shares of the gaming real estate investment trust (REIT) are lower...
Bally’s Sets $1B Rhode Island Casino Property Deal with Gaming and Leisure
Bally’s (NYSE:BALY) is selling the property assets of its two Rhode Island casinos to Gaming and Leisure Properties (NASDAQ:GLPI) for $1 billion. It will leaseback the venues from the gaming landlord, the companies announced today. Details of the transaction for Bally’s Twin...
