5034 stories by Todd Shriber
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...
MGM Unveils Daily Tier Status Booster Program
MGM Resorts International is giving customers new ways for earning tier credits and reaching coveted status levels within the MGM Rewards platform. But there are some catches. The Aria operator recently unveiled its “Daily Tier Status Accelerator” program. That allows visitors to...
FanDuel Off to Stellar 2023 Start, Flutter Investors ‘Supportive’ of US Listing
Already the largest online sportsbook operator in the US by a wide margin, FanDuel is off to a strong start this year. It is supporting solid financial results for parent company Flutter Entertainment (OTC: PDYPY). The Irish gaming behemoth provided investors with...
Golden Eyes $30M Strat Renovation, Could Sell Distributed Gaming Biz, Says Analyst
Golden Entertainment (NASDAQ: GDEN) is pledging to spend at least $30 million this year sprucing up the Strat Las Vegas ahead of November’s F1 race and the 2024 Super Bowl. One analyst believes the company could eventually sell its distributed gaming business....
BetMGM, MGM Resorts Debut MGM Riches Slots
MGM Resorts International and its BetMGM unit announced the debut of MGM Riches Slots -- the first slot machine offering available on BetMGM’s iGaming platform and at the parent company’s land-based gaming venues. The gaming companies note bettors will be presented with...
Circa Sports Boss Stevens Hopeful on Illinois Debut, Talks Expansion Plans
Circa Sports founder and owner Derek Stevens is optimistic the company will be able to offer retail and mobile wagering to Illinois sports bettors this year and remains keen to expand into other states. In an interview with Matt Perrault and Dave...
MGM Forecasts 2023 Macau Spend up to $150 Million
MGM Resorts International (NYSE: MGM) said its China unit could spend up to $150 million in capital expenditures in Macau this year. MGM China, which is 56% owned by the Las Vegas-based casino-resort operator, runs MGM Cotai and MGM Macau in the...
