5448 stories by Todd Shriber
Penn Entertainment Approves New $750M Buyback Plan
Penn Entertainment (NASDAQ:PENN) has added to the buyback binge in the gaming industry, announcing the approval of a $750 million share repurchase plan. That’s in addition to a buyback program for the same amount announced by the Pennsylvania-based regional casino operator in...
Macau Stocks Might Be Ready for Another Close-Up with Investors
Since the coronavirus pandemic forced a 15-day closure of Macau casinos in February 2020, it’s been a long, often turbulent road for shares of concessionaires in the special administrative region (SAR). But light may be emerging at the end of the tunnel....
Joffre Capital Gives Big F-U to Phuk II Stake
Technology buyout fund Joffre Capital announced Thursday it's pulling the plug on a previously announced plan to acquire a controlling interest in Playtika (NASDAQ: PLTK). Joffre cited issues at the mobile gaming company and with the seller of the shares, Playtika Holding...
Madison Square Garden to Retain Las Vegas Sphere, Tao Group
Madison Square Garden Entertainment Corp. (NYSE:MSGE) updated investors on previously announced spin-off plans, and there are Las Vegas implications. The company announced late Tuesday it’s evaluating a potential transaction that would separate its live entertainment while retaining the MSG Sphere, MSG Networks,...
Apollo Doling Out $1.5K Bonuses to Venetian Employees
Employees at the Venetian Las Vegas will have some extra jingle in their pockets this holiday season. Operator Apollo Global Management is distributing $1,500 bonuses. In total, the private equity firm that operates the iconic Strip venue is doling out $11 million...
Genting Providing More Financing to Empire Resorts
Genting Malaysia Bhd. has provided more financing to its Empire Resorts unit. That's as an entity tied to the Malaysian conglomerate recently purchased $100 million in preferred stock issued by the New York-based gaming company. Genting ER II LLC, which is a...
Red Rock Resorts Unloads Land Near Durango Project for $23.9M
Last week, Red Rock Resorts (NASDAQ: RRR) closed on the sale of 21.3 acres of land next to its Durango casino hotel project in Southwest Las Vegas. The gaming company sold the land to real estate developer Ovation Development Corp. for $23.9...
Macau Recovery Could Be Supported by Mass Market Table Games
Long-running hopes for a gaming industry recovery in Macau could arrive in 2024, and might find support from mass market table games. That’s the take of JPMorgan analysts led by DS Kim, who notes Macau operators’ earnings before interest, taxes, depreciation and...
MGM Stock Has Makings of 2023 Casino Winner, Analyst Claims
On a mostly rough day for casino equities, MGM Resorts International (NYSE: MGM) gained almost 2% Monday with the help of bullish sell-side commentary. In a note to clients today, Truist analyst Barry Jonas upgraded shares of the Bellagio operator to “buy”...
VICI Providing Financing for Century Casinos Missouri Renovations
VICI Properties (NYSE:VICI) is providing financing to Century Casinos (NASDAQ:CNTY) so that the gaming operator can refurbish its eponymous Caruthersville, Mo. casino-hotel. Last Friday, Century broke ground on the enhancements, which are expected to cost $51.9 million. To finance the project, it...
