5359 stories by Todd Shriber
Penn Entertainment Revamps Loyalty Program
Penn Entertainment is altering its customer loyalty platform, replacing the mychoice program with PENN Play to reflect the regional casino operator’s evolving business mix. The program has 26 million members, according to the Pennsylvania-based gaming company. PENN Play gives participants more ways...
A’s Vegas Move Seen Lifting Local Casinos More Than Strip Rivals
The Oakland Athletics are on their way to Las Vegas, and that move will likely benefit local casino operators more than Strip counterparts. That’s the thesis of CBRE analyst John DeCree, who in a new report to clients, highlights Red Rock Resorts...
GAN Procures Needed Refinancing, Slashing Interest Expenses
Gaming technology provider GAN Ltd. (NASDAQ: GAN) landed much-needed refinancing with some creditors -- moves that will enable the battered firm to realize significant savings on annual interest expenses. GAN creditor Beach Point Capital is waiving certain defaults and covenants under its...
Oakland A’s, Red Rock Resorts Close to Las Vegas MLB Stadium Pact
The Oakland Athletics and Red Rock Resorts are reportedly nearing an accord. That would pave the way for the construction of a $1 billion baseball stadium in Las Vegas near Allegiant Stadium. The Nevada Independent broke the story late Thursday, reporting that...
Monarch Casino & Resort Q1 Results Solid, Analyst Sees Upside Catalysts
Despite weather challenges in Reno, Monarch Casino & Resort (NASDAQ: MCRI) posted strong first-quarter financial results, prompting at least one analyst to highlight positives in the regional casino operator’s story. The Atlantis Reno operator reported first-quarter adjusted earnings before interest, taxes, depreciation,...
Fanatics Sportsbook Could Be Live in 12-15 States by Start of 2023 Football Season
Newly minted Fanatics Sportsbook could be live in as many as 15 states by the start of the 2023 football season, according to founder and CEO Michael Rubin. He made those remarks earlier today at the Sports Business Journals World Congress of...
BetMGM Posts Strong Q1 Showing, On Track for Profitability Later in 2023
BetMGM started 2023 in strong form. That put the internet casino and online sportsbook operator on pace to meet its previously stated goal of turning profitable in the back half of this year. In its first-quarter financial update, Entain Plc (OTC: GMVHY),...
Golden Nugget Pulling Plug on Nevada Sports Betting App, Could DraftKings Be Replacement?
Golden Nugget is shutting down its Nevada mobile sports wagering application on April 26. The casino operator notified patrons about the decision in a Monday email blast. Customers without pending wagers can withdraw funds via the app, or by visiting the Golden...
Boyd Gaming Revenue Could Pop on Regional Casino Strength
Boyd Gaming (NYSE: BYD) stock is on a tear this year, soaring 20.92%. But there could be upside to that performance due to strength in regional casinos. In a note to clients Monday, JPMorgan analyst Joseph Greff reiterated an “overweight” rating on...
DraftKings Could Be EBITDA-Positive This Year, Profitable in 2024, Says Analyst
DraftKings (NASDAQ: DKNG) could be on pace to accomplish some long-awaited financial objectives this year, potentially stoking more upside in the already hot stock. In a note to clients today, Jefferies analyst David Katz pointed out that DraftKings could generate positive earnings...
