5136 stories by Todd Shriber
Playtika Lifts Takeover Offer for Angry Birds Producer Rovio
Mobile gaming company Playtika (NASDAQ: PLTK) said Thursday it's increasing its acquisition offer for Rovio Entertainment Corporation to $9.78 a share. The new all-cash bid represents a 55% premium to Rovio’s January 18 closing price in Helsinki. Finland-based Rovio is the company...
Bally’s To Slash Up To 15 Percent of Interactive Staff in Bid for Profitability
Bally’s Corp. (NYSE:BALY) announced it will reduce headcount at its digital gaming unit by up to 15%, as the operator aims for profitability in the North American market. The Rhode Island-based casino operator made the announcement late Wednesday in a Form 8-K...
Wynn Macau Poised to Nab Market Share from Rivals
Wynn Macau could gain market share in the Chinese territory in the coming years. That's as premium mass players return to the tables and as operators vie for what is now a splintered VIP demographic, owing to the demise of the junket...
MGM Top Casino Stock Pick at Macquarie Based on Attractive Las Vegas Calendar
MGM Resorts International (NYSE: MGM) could be a star among casino stocks in 2023, owing in part to an eventful Las Vegas calendar. In a note to clients on Wednesday, Macquarie analyst Chad Beynon noted midweek Strip occupancy could dip a bit...
DraftKings Could Be Profitable Sooner than Expected
DraftKings (NASDAQ: DKNG) could surprise investors and reach profitability sooner than expected, perhaps two quarters in advance of the company’s previous guidance. That’s the take of Morgan Stanley analyst Stephen Grambling. In a note to clients on Wednesday, Grambling anointed the gaming...
Disney Facing Complexities with Potential ESPN Spin-Off
Facing a challenge from yet another activist investor, The Walt Disney Co. (NYSE: DIS) could examine spinning off ESPN and perhaps all of its traditional media business. But there are complexities tied to such a transaction. There’s speculation among investment bankers that...
David Einhorn’s Greenlight Capital Bubble Basket May Have Been Short DraftKings
David Einhorn’s Greenlight Capital is coming off one of its best annual performances on record, and a possible short position in DraftKings (NASDAQ: DKNG) may have been among the contributors to the hedge fund’s stellar 2022 showing. In an investor letter, Einhorn...
Macau Outlook Brightens as Profitability Returns
China only recently relaxed its draconian zero-COVID policy. But it appears to be paying immediate dividends for Macau casino operators, which are already believed to be profitable. While the six concessionaires are forecast to report fourth-quarter earnings before interest, taxes, depreciation, and...
MGM Japan Casino Spend Could Be $2.5B, Says S&P
MGM Resorts International’s capital contribution to the widely anticipated casino-resort project in Osaka, Japan is expected to be $2 billion to $2.5 billion, according to S&P Global Ratings. The ratings agency said MGM’s stake in the project is unlikely to exceed 50%,...
SL Green Bullish on Caesars Partnership, Times Square Casino Plan
SL Green is already the largest New York City’s largest commercial real estate developer, and the company is looking to add a casino-hotel to its expansive portfolio. Last October, the real estate investment (REIT) announced it is partnering with Caesars Entertainment in...
