4979 stories by Todd Shriber
MGM, Wynn Could Be Hampered by High Leverage in Recession
MGM Resorts International (NYSE: MGM) and Wynn Resorts (NASDAQ: WYNN) are among the companies with high debt burdens that could be vulnerable in a recession. Recession fears are front-and-center for Corporate America and investors because there’s increasing concern that the Federal Reserve...
DraftKings Earns Upgrade as Analyst Sees Attractive Earnings Potential
On what’s shaping up to be a rough day for equities, DraftKings (NASDAQ: DKNG) stock is standing out in a positive fashion after an analyst upgraded shares of the sportsbook operator. In a note to clients on Tuesday, Argus analyst John Staszak...
MGM, Fanatics Could Be Buyers if Sports Betting M&A Heats Up
Analysts widely expect consolidation in the sports wagering industry to intensify this year, noting MGM Resorts International (NYSE: MGM) and Fanatics could be among the potential buyers. Following dismal showings by sports wagering equities in the latter stages of 2021 and over...
MGM China Can Add Market Share Via Table Games
MGM China can pilfer market share from rivals in Macau on the back of the special administrative region’s (SAR) altered guidelines about table games allotment. Under Macau’s recently revised gaming laws, concessionaires face limits on how many slot machines and table games...
Golden Entertainment Sells Distributed Gaming Unit for $361.5 Million
Golden Entertainment (NASDAQ: GDEN) announced Monday it's selling its distributed gaming operations in Montana and Nevada for $322.5 million in cash plus estimated cash considerations of $39 million upon closing of the transaction. Privately held J&J Ventures Gaming is acquiring the businesses...
Wynn Trademarks Confirm ‘Strip’ Verbiage for UAE Casino
Wynn Resorts is looking to bring a taste of the Las Vegas Strip to the United Arab Emirates (UAE) with its upcoming casino-resort on Al-Marjan Island. It wants to use related vernacular. Filings indicate that the gaming company recently registered trademarks for...
Regional Casino Margins Expand as Headcount Dwells Below Pre-Pandemic Levels
Following the 2020 reopening of gaming venues and subsequent rally in share prices, margins became a significant part of the story for regional casino operators. One analyst says margin expansion by regional gaming companies has been accrued via lower staff counts. In...
Las Vegas Sands, MGM Helped by Rising Rates, Says BofA Strategist
Ten-year Treasury yields closed at 3.964% on Friday, and earlier this week, two-year yields touched 4.9%, the highest levels since 2007. Those are signs rising interest rates remain a potential thorn in the side of corporations and investors. In theory, higher interest...
Wynn Macau Selling $600M in Convertible Bonds
Wynn Macau announced Friday the sale of USD$600 million in convertible bonds, which is open only to professional investors. The debt bears a coupon of 4.5% and comes due in 2029. In a regulatory filing with the Hong Kong Stock Exchange (HKSE),...
Hard Rock Russia Ties Could Jeopardize New York Casino Plans
Hard Rock International’s relatively modest exposure to Russia could endanger the tribal gaming giant’s plans to win a highly prized New York City casino license. A pair of franchised restaurants bearing the Hard Rock name -- one in Moscow and another in...
