4981 stories by Todd Shriber
Sands Board Departure Highlights Controlled Company Status
Las Vegas Sands (NYSE: LVS) announced the departure of Yibing Mao from its board of directors, leaving the board short of independent members. Mao had been a director at the gaming company since July 2021 and is leaving to pursue other opportunities....
MGM First Casino Company to Sign Onto UN CEO Water Mandate
MGM Resorts International (NYSE: MGM) announced that it's the first casino operator to join the United Nations’ (UN) CEO Water Mandate -- a collection of multinational companies working to address water shortages and related issues. Given that it’s a Las Vegas-based company...
Nevada Hotel Tax Revenue to Exceed Pre-Pandemic Levels in 2023
The domestic hotel industry is forecast to easily surpass pre-coronavirus pandemic tax revenue levels this year, potentially representing good news for Nevada state coffers and employment numbers. In a new report, the American Hotel & Lodging Association (AHLA) and Oxford Economics forecast...
DraftKings Could Buy Caesars Out of ESPN Deal Says EKG
It’s been nearly three years since Caesars Entertainment (NASDAQ: CZR) and DraftKings (NASDAQ: DKNG) each announced separate multiyear agreements with ESPN. Now, it’s possible DraftKings will expand that relationship, potentially buying out the casino operator to do so. That idea was floated...
Caesars Won’t Empty War Chest in New York, Unlikely to Sell Assets in 2023
Caesars Entertainment (NASDAQ: CZR) won’t overspend in its quest to land a New York City casino permit, nor is the company likely to divest assets this year. That’s according to remarks made by executives on the company’s fourth-quarter earnings conference call on...
Caesars Digital Loss Narrows, Casino Outlook Sturdy
Caesars Entertainment (NASDAQ: CZR) delivered fourth-quarter results after the close of US markets Tuesday, highlighting a narrower loss in its digital business and strength at its land-based casinos. The Harrah’s operator reported a fourth-quarter loss of 70 cents a share on revenue...
Macau Concessionaires Flirt with Credit Upgrades
No debt issued by Macau concessionaires currently carries investment-grade ratings and the credit outlook across the group is widely viewed as “negative” by ratings agencies, but it is possible that the operators could be drawing closer to credit upgrades. Using data from...
DraftKings Momentum is There, Caution Warranted, Says Analyst
There’s no denying investors were enthusiastic about the 2023 outlook revealed last week by DraftKings (NASDAQ: DKNG). It sparked one of the best intraday performances on record by the stock. But at least one analyst advises caution on the sports wagering equity....
Sands China Racing to Macau Premium Mass Lead
Sands China is establishing a leading market position among premium mass bettors in Macau, according to a recent survey by Citigroup analysts. Premium mass is the segment above the mass market and below VIPs or whales. Sands China, a unit of Las...
DraftKings Soars as Analysts Gush Over 2023 Outlook
On the back of a better-than-expected 2023 outlook, analysts fawned over DraftKings (NASDAQ: DKNG) stock today, contributing to a 15.33% jump on volume that was more than six times the daily average. That was good for one of the best intraday performances...
