5449 stories by Todd Shriber
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...
Light & Wonder Names Matt Wilson Permanent CEO, MGM Interactive Gets New President
The past several days have been a busy period of high-level executive announcements at publicly traded gaming companies. On Monday, Light & Wonder (NASDAQ: LNW) said Matt Wilson will become chief executive officer on an ongoing basis. He was named interim CEO...
Penn Entertainment Spending Could Be Ill-Timed, Says Analyst
On Monday, Penn Entertainment (NASDAQ:PENN) announced $850 million in new expenditures. But at least one analyst says the spending creates risks and could be poorly timed. In a note to clients, Roth Capital analyst Edward Engel said the current market environment is...
ESPN Deal Could Spur DraftKings International Expansion, Say Analysts
DraftKings’ (NASDAQ: DKNG) widely anticipated deal with Walt Disney’s (NYSE: DIS) ESPN unit, which has yet to be confirmed by either party, could spur the gaming company’s international expansion efforts, according to industry analysts. Rumors surfaced last week that the two companies...
