5402 stories by Todd Shriber
Cathie Wood’s ARK Invest Adds $1.5 Million in DraftKings Stock
Cathie Wood’s ARK Investment Management remains bullish on DraftKings (NASDAQ:DKNG) stock, having added nearly 137,000 shares of the tumbling equity on Dec. 29. That purchase was valued at approximately $1.5 million based on the gaming equity’s Dec. 29 trading range. All of...
Gaming Stocks Among Culprits in 2022 Consumer Discretionary Weakness
Broadly speaking, 2022 was a rough year for gaming stocks, and much of that was attributable to those equities’ residence in the consumer discretionary sector. Entering Wednesday, the consumer cyclical sector accounted for 23% of the $8.2 trillion in market value shed...
DraftKings Could Be 2023 Small Stock Winner
Entering Thursday, DraftKings (NASDAQ: DKNG) stock was saddled with a 2022 loss of 59.77%, which dragged its market capitalization down to $4.99 billion. That’s at the lower end of mid-cap territory and a far cry from its previous market value high of...
Harrah’s New Orleans Enhancements to Accelerate in Early 2023
Caesars Entertainment commenced a $325 million renovation of Harrah’s New Orleans in January 2021, and the operator said that effort will accelerate next month. Some of the more visible alterations to the lone casino-hotel in the Crescent City that will be seen...
Elys Game Technology Says Markets Aren’t Giving Stock Adequate Appreciation
Elys Game Technology (NASDAQ: ELYS), a gaming technology provider, entered Wednesday’s trading session with a market capitalization of just $7.61 million and a year-to-date loss of 87.79%. But the company says those statistics indicate financial markets don’t fully appreciate the underlying investment...
Macau GGR Could Perk Up as Soon as Early 2023
After nearly three years of dashed hopes and disappointments, Macau gross gaming revenue (GGR) could finally swing higher in 2023. That recovery could start almost as soon as the calendar changes to January. In a new note to clients, UBS analyst Angus...
Ruffin Didn’t Bid for Mirage Because He Wanted Real Estate, Too
Billionaire Phil Ruffin didn’t make a run at the Mirage when MGM Resorts International (NYSE:MGM) was shopping the casino-resort. That's because he wanted the land, not just the operating rights. The Treasure Island owner made those remarks in an interview with the...
Casino REITs Could Be ‘Attractive Partners’ for Six Flags Land, Says Investment Manager
Jonathan Litt’s Land & Buildings Investment Management, LLC (L&B) is pushing Six Flags Entertainment (NYSE: SIX) to monetize its property holdings. It notes that casino landlords are among the real estate investment trusts (REITs) that could be sensible buyers of the land....
Sportradar Gains Financial Flexibility Via Loan Prepayment
Sports betting data provider Sportradar (NASDAQ: SRAD) will enter 2023 with new-found financial flexibility after the company prepaid a nearly $446 million term loan. Not only does that early payment reduce leverage, it strengthens the Swiss company’s balance sheet while providing more...
Century Casinos, PlayAGS Among Deep-Value Gaming Equity Ideas for 2023
Amid a mostly brutal year for gaming equities, particularly those in the small-cap arena, there are plenty of deep-value ideas for investors to mull heading into 2023. In a new report to clients, Roth Capital analyst Edward Engel highlights Century Casinos (NASDAQ:...
