5402 stories by Todd Shriber
Tropicana Las Vegas Still in Running to Be A’s Stadium Site
Tropicana Las Vegas is still in contention to possibly be the site of a Major League Baseball (MLB) stadium, according to Bally’s (NYSE: BALY) executives. On the company’s third-quarter earnings conference call earlier this week, CEO Lee Fenton said the company could...
DraftKings Dives on Weak 2023 Forecast, Lingering Losses
DraftKings (NASDAQ: DKNG) stock tumbled in early trading Friday after the sportsbook operator issued tepid 2023 guidance, including a larger-than-expected loss. While the gaming company lifted its 2022 guidance, its 2023 earnings before interest, taxes, depreciation and amortization (EBITDA) spooked Wall Street....
VICI Properties Selling Nearly 19M Shares, Could Use Cash for Acquisitions
VICI Properties (NYSE:VICI) announced today it’s selling up to 18.97 million shares of its common equity through forward purchase agreements, meaning the real estate investment trust (REIT) won’t initially receive cash proceeds. The largest gaming REIT said it’s selling 16.5 million shares...
Caesars Open to Digital Spinoff, But Prefers Full Ownership
Caesars Entertainment (NASDAQ:CZR) is open to the idea of spinning off its digital gaming unit if that corporate action would unlock shareholder value. But the casino operator’s preference is to retain full ownership of that fast-growing subsidiary. On the company’s third-quarter earnings...
Apollo Open to Buying More Casino Assets as Venetian Thrives
The Venetian Las Vegas is thriving under the stewardship of Apollo Global Management (NYSE: APO). Things are going so well at that integrated resort that the private equity behemoth said it’s open to acquiring additional casinos -- in Las Vegas or in...
Caesars Stock Contends with Downgrade Despite Earnings Beat
Caesars Entertainment (NASDAQ:CZR) delivered estimate-beating third-quarter results on Tuesday. While analysts are mostly upbeat about the report, there’s at least one dissenting voice. In a note to clients today, CFRA Research Arun Sundaram downgraded Caesars stock to “hold” from “buy” while paring...
Bally’s Downgraded as Analyst Sees Mounting Macro, Regulatory Risks
Ahead of its third-quarter earnings report on Thursday, Bally’s (NYSE: BALY) was downgraded by a sell-side analyst who cites a variety of near-term risks. In a note to clients, Stifel analyst Jeffrey Stantial lowered his rating on the regional casino operator to...
Boyd Gaming Wraps Up $170M Pala Interactive Acquisition
Boyd Gaming (NYSE: BYD) announced today that it has put the finishing touches on its previously announced $170 million, all-cash acquisition of Pala Interactive. The regional casino operator said in March its Boyd Gaming Interactive unit was buying Pala Interactive from California’s...
NBA 2K League Disqualifies Five Players for Violating Betting Policies
The NBA 2K League -- an esports league based on the popular basketball video game -- has disqualified five players and a coach for violations of the association’s betting and fantasy sports protocols. Details are sparse, but the league said Christopher Lafanette,...
Casino Operators’ Q3 Revenue Keeping Pace with Spending
Third-quarter earnings season is in full swing, and several casino operators already reported with an important takeaway: revenue is keeping pace with operating expenditures. Some of the casino companies that delivered results for the September quarter, including Boyd Gaming (NYSE:BYD) and Red...
