5402 stories by Todd Shriber
Bally’s Strikes Labor Accord for Chicago Casino
Bally’s Corp. announced it has signed multiyear labor agreements with local unions in Chicago, all pertaining to the construction of the gaming company’s $1.7 billion integrated resort. The Rhode Island-based casino operator said it struck a project labor agreement (PLA) with the...
South Point Extends Sponsorship of Las Vegas NASCAR Race
The South Point Hotel, Casino & Spa announced Sunday that it’s extending its title sponsorship of the fall NASCAR race in Las Vegas. The announcement arrived in conjunction with news from Las Vegas Motor Speedway (LVMS) that the venue is also lengthening...
Venetian Las Vegas Heading Toward $1 Billion Remodel
Apollo Global Management is planning to spend more than $1 billion to update the Venetian Resort Las Vegas, representing one of the most significant updates to a Strip venue in years. In a recent interview with Travel + Leisure, Venetian CEO Patrick...
Macau Recovery: Long Road Ahead with Plenty of Debt
The story of Macau’s recovery from the coronavirus pandemic is ongoing and taking far longer than gaming companies and investors were hoping. It’s also clear that road will be laden with debt. Amid lingering COVID-19 protocols that are keeping visitors away from...
Global Investors Skirting Gaming Stocks, Says Morgan Stanley
Asset allocators are increasingly ignoring gaming stocks, even as those shares decline, potentially signaling missed value opportunities. That’s according to Morgan Stanley’s 2022 Global Investor Survey, which indicates 29% of investors are glossing over gaming equities this year, up from 24% in...
New York Court Rules in Favor of FanDuel in $1B Founders Suit
The New York Supreme Court today ruled in favor of FanDuel, dismissing a $1 billion suit brought by founders of the gaming company. They argued they were not adequately compensated when the sportsbook operator was acquired by Paddy Power Betfair in 2018....
Las Vegas Sands Upgraded on Diminishing Macro Risk
Las Vegas Sands (NYSE: LVS) drew a sell-side upgrade, as an analyst sees diminishing domestic macroeconomic risk hampering the scuffling stock. In a note to clients today, Bank of America analyst Shaun Kelley upgraded shares of the Venetian Macau operator to “neutral”...
MGM CEO Bill Hornbuckle Says Genting Macau Bid Viable
MGM Resorts International (NYSE: MGM) CEO Bill Hornbuckle said the gaming company views Genting Malaysia’s effort to procure a Macau license as credible. In an interview earlier this week with CNBC from the Global Gaming Expo (G2E) in Las Vegas, Hornbuckle said...
MGM Spending $100M on Mandalay Bay Convention Center Remodel
MGM Resorts International announced today it will spend $100 million to spruce up the Mandalay Bay Convention Center. As part of the remodel, the 2.1 million-square-foot convention center will get a variety of technological enhancements as well as redesigned space aimed at...
Caesars Strip Asset Sale Likely Off for Now, Stock Still Has Potential, Says Analyst
Amid rising interest rates and slumping equity prices, the likelihood of Caesars Entertainment (NASDAQ: CZR) selling one of its Las Vegas Strip assets this year is rapidly diminishing. But the stock isn’t without catalysts, according to one analyst. Following meetings with Caesars...
