5034 stories by Todd Shriber
FanDuel Eyes Full-Year Profitability in 2023
FanDuel, the largest online sportsbook operator in the US, could achieve an industry first this year: Profitability on an annual basis. Amy Howe, chief executive officer of the gaming company, commented on that effect in a Friday interview with Bloomberg Television. We...
Wynn Resorts Sells $600M in Debt in Private Offering
Wynn Resorts (NASDAQ: WYNN) announced that its Wynn Resorts Finance (WRF) unit sold $600 million worth of corporate debt maturing in 2031 in a private offering. Those bonds carry a coupon of 7.125%. The casino operator is using proceeds from that sale...
Super Bowl Results Could Affect DraftKings Stock
Super Bowl LVII kicks off in Glendale, Arizona, on Sunday. It’s expected to be the most wagered-on edition of the big game in history. As such, some analysts are examining DraftKings' (NASDAQ: DKNG) stock ahead of the championship clash. That’s sensible because...
DraftKings Hit With ‘Sell’ Rating Ahead of Q4 Earnings Report
DraftKings (NASDAQ: DKNG) delivers its fourth-quarter earnings update next week, and one analyst is advising investors to take profits in the stock, which soared to start 2023. In a note to clients Thursday, Roth MKM analyst Edward Engel lowered his rating on...
Caesars Among Biggest NFL Sponsorship Spenders
The NFL hauled in $1.88 billion in sponsorship revenue last year with gaming/wagering ranking as one of the top categories. In that group, Caesars Entertainment (NASDAQ: CZR) led the way. During the 2022 season, which concludes Sunday with the Super Bowl in...
MGM CEO Bill Hornbuckle Puts Kibosh on Revisiting Entain Bid
MGM Resorts International (NYSE: MGM) is unlikely to revisit a takeover bid for Entain Plc (OTC: GMVHY) -- its partner in the BetMGM business. MGM CEO Bill Hornbuckle made comments to that effect on the company’s fourth-quarter earnings conference Wednesday afternoon, saying...
MGM Tops Las Vegas Records, Unveils New $2B Share Buyback Plan
MGM Resorts International (NYSE: MGM) announced Wednesday that its fourth-quarter and full-year 2022 earnings before interest, taxes, depreciation, amortization, restructuring or rent costs (EBITDAR), and revenue set new records in Las Vegas and throughout its regional portfolio. The Bellagio operator said it...
Caesars Unveils Rewards Travel Bundle
Caesars Entertainment announced Wednesday the debut of the Caesars Rewards Travel Bundle, which will allow members of the gaming company’s loyalty program to access one-stop travel booking. With the debut of the travel bundle, customers can book flights and rent cars, and...
Las Vegas Sands, Wynn Resorts Among Politicians’ Favorite Stocks
Politicians from both parties are active participants in financial markets and gaming stocks. Las Vegas Sands (NYSE: LVS) and Wynn Resorts (NASDAQ: WYNN), are among their favorite holdings. Two exchange traded funds (ETFs) that debuted Tuesday -- the Advisor's Unusual Whales Subversive...
Tilman Fertitta Says Texas Casinos Are Long Shots
Some key politicians, including Gov. Greg Abbott (R-TX), are warming to the idea of casinos in Texas. But Tilman Fertitta believes the endeavor faces long odds. While Abbott has moved from being stridently opposed to casino gaming to being open to the...
