2612 stories by Todd Shriber
MGM Investor Barry Diller Gets Limited License from Nevada Gaming
The Nevada Gaming Commission (NGC) has granted a limited license to Barry Diller, the media mogul whose IAC/InterActiveCorp (NASDAQ:IAC) is the largest shareholder in MGM Resorts International (NYSE:MGM). That's following an inquiry into a federal investigation of the billionaire’s purchase of Activision...
Bally’s Stock Sentiment Close to Bottom, Says Analyst
Bally’s (NYSE:BALY) is among the many repudiated gaming equities. A 12-month decline of 53.49% confirms as much. But at least one analyst says sentiment on the downtrodden name is nearing a bottom. In a note to clients, Stifel’s Jeffrey Stantial reiterates a...
MGM, Penn Among Contributors to Casino Stock Buyback Bonanza
Led by MGM Resorts International (NYSE:MGM) and Penn National Gaming (NASDAQ:PENN), among others, casino stocks are prime territory for share repurchase programs. Gaming industry shareholder rewards, including buybacks and dividends, were halted in the early days of the coronavirus pandemic. But casino...
BetMGM Expands Gift Card Distribution to Grocery, Hardware Stores
BetMGM and its gift card partner TAPPP are unveiling a massive expansion of that progam's gift card distribution network. On Tuesday, the companies said the number of retail stores carrying BetMGM gift cards will “roughly double” in the current quarter to more...
Baron Real Estate Fund Adds Sands, Bullish On Other Casino Stocks
The Baron Real Estate Income Fund, one of the best-performing actively managed real estate funds, added shares of Las Vegas Sands (NYSE:LVS) in the first quarter. It remains constructive on several other casino stocks in its portfolio. In the first three months...
Penn National Analyst Says Share Price Indicates ‘De Minimis Value’ for Digital Gaming
The 61.35% loss incurred by Penn National Gaming (NASDAQ:PENN) stock over the past year places it at a price where the shares reflect “de minimis value” for online gaming operations, according to a sell-side analyst. That’s the sentiment of Jefferies analyst David...
Cosmopolitan Las Vegas Now MGM Venue as Buyer Rapidly Completes Purchase
The Cosmopolitan Las Vegas is officially part of the MGM Resorts International (NYSE:MGM) portfolio of integrated resorts, as the gaming company closed its acquisition of the Strip venue today. MGM announced last September it’s paying $1.6 billion to Blackstone for Cosmopolitan’s operating...
Light & Wonder Rockets Higher on Bullish Investor Day Comments
In its first investor day as Light & Wonder (NASDAQ:LNW), the gaming company offered up a bullish outlook, including a forecast of a total addressable market of $70 billion, sparking a rally in the shares. In late trading, shares of the company...
Melvin Capital Reveals Stake in MGM Resorts
Gabe Plotkin’s Melvin Capital Management -- one of the hedge funds burned by the early 2021 rally in shares of GameStop (NYSE:GME) -- is trying a different type of gaming equity. The firm’s 13F filing with the Securities and Exchange Commission (SEC)...
Land & Buildings Dumps Caesars, VICI Stakes
Jonathan Litt’s Land & Buildings Investment Management, LLC (L&B) eliminated its gaming equity exposure in the first quarter, dumping stakes in Caesars Entertainment (NASDAQ:CZR) and VICI Properties (NYSE:VICI). The investment firm’s first-quarter 13F filing with the Securities and Exchange Commission (SEC) indicates...
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