3977 stories by Todd Shriber
Las Vegas Sands Upgraded to Investment-Grade by Fitch
Las Vegas Sands (NYSE: LVS) earned another investment-grade credit rating, this time courtesy of Fitch Ratings. The research firm cited Macau's rebound and overall strength in Singapore, Sands’ two operating markets. Fitch observed that based on those metrics, LVS drove leverage through...
Fontainebleau Miami Casino Bill Appears Dead — for Now
Legislation that would have potentially paved the way for casino expansion in South Florida appears dead after some well-heeled business owners flexed their muscles. Late Wednesday, the Florida State Senate scrapped plans to consider a bill that, if signed into law, would...
Kansas City Chiefs Garner Bulk of Super Bowl Bets in BetMGM States
There are 10 days left until Super Bowl LVIII kicks off, so changes are possible. But as things stood earlier today, the Kansas City Chiefs are commanding the significant majority of the traditional wagers in the states in which BetMGM is operational....
Sands, Wynn Among Fortune’s Most Admired Companies
Las Vegas Sands (NYSE: LVS) and Wynn Resorts (NASDAQ: WYNN) again made appearances on Fortune’s World’s Most Admired Companies list. The 2024 iteration of the rankings features 317 companies across various industries and sectors. The top 50 firms are ranked outright, while...
NFL, Media Attention Could Drive More Sports Betting Legalization
The ongoing devotion of bettors and fans to the NFL, and increased media attention could be among the factors that propel more legalization of sports wagering in the U.S. That’s the take of Macquarie analyst Chad Beynon, who, in a new report...
Trump Met With Red Rock Bosses Frank, Lorenzo Fertitta in Las Vegas
During a visit to Las Vegas last Saturday, former President and GOP front-runner Donald Trump reportedly met with several well-heeled Republican donors, including Frank and Lorenzo Fertitta of Red Rock Resorts (NASDAQ: RRR). Citing unidentified sources with knowledge of the matter, Politico...
Citadel Founder Ken Griffin Says Casinos are a Losing Idea for Florida
Ken Griffin, Citadel's founder and co-chief investment officer, believes Florida is already on the right track, and more casinos could derail the state’s impressive economic trajectory. In a new op-ed for the Miami Herald, Griffin, whose hedge fund is one of the...
Wynn Resorts Credit Story Improving, But Still Junk-Rated by Fitch
Wynn Resorts (NASDAQ: WYNN) has an improving credit story, but it earned a junk grade of “BB-“ with a “stable” outlook in new coverage by Fitch Ratings. Factors in favor of the casino operator’s credit profile, as highlighted by the ratings agency,...
Light & Wonder on Pace to Top 2025 EBITDA Forecast
Helped by new slot machines and strength in the land-based casino industry, Light &Wonder (NASDAQ: LNW) is on pace to beat a previously disclosed 2025 earnings before interest, taxes, depreciation, and amortization (EBITDA) estimate. That’s the take of JPMorgan, which sees the...
WynnBET Leaving Massachusetts, Death Possible for Sports Bet App
Wynn Resorts’ (NASDAQ: WYNN) WynnBET is slated to exit Massachusetts, the latest sign the sports wagering mobile application could be dying a slow death. An agenda for Thursday’s Massachusetts Gaming Commission (MGC) meeting indicates WynnBET plans to ask the commission for permission...
