5254 stories by Todd Shriber
Caesars Won’t Empty War Chest in New York, Unlikely to Sell Assets in 2023
Caesars Entertainment (NASDAQ: CZR) won’t overspend in its quest to land a New York City casino permit, nor is the company likely to divest assets this year. That’s according to remarks made by executives on the company’s fourth-quarter earnings conference call on...
Caesars Digital Loss Narrows, Casino Outlook Sturdy
Caesars Entertainment (NASDAQ: CZR) delivered fourth-quarter results after the close of US markets Tuesday, highlighting a narrower loss in its digital business and strength at its land-based casinos. The Harrah’s operator reported a fourth-quarter loss of 70 cents a share on revenue...
Macau Concessionaires Flirt with Credit Upgrades
No debt issued by Macau concessionaires currently carries investment-grade ratings and the credit outlook across the group is widely viewed as “negative” by ratings agencies, but it is possible that the operators could be drawing closer to credit upgrades. Using data from...
DraftKings Momentum is There, Caution Warranted, Says Analyst
There’s no denying investors were enthusiastic about the 2023 outlook revealed last week by DraftKings (NASDAQ: DKNG). It sparked one of the best intraday performances on record by the stock. But at least one analyst advises caution on the sports wagering equity....
Sands China Racing to Macau Premium Mass Lead
Sands China is establishing a leading market position among premium mass bettors in Macau, according to a recent survey by Citigroup analysts. Premium mass is the segment above the mass market and below VIPs or whales. Sands China, a unit of Las...
DraftKings Soars as Analysts Gush Over 2023 Outlook
On the back of a better-than-expected 2023 outlook, analysts fawned over DraftKings (NASDAQ: DKNG) stock today, contributing to a 15.33% jump on volume that was more than six times the daily average. That was good for one of the best intraday performances...
Penn Entertainment Completes Barstool Buy
Penn Entertainment (NASDAQ: PENN) completed its acquisition of Barstool Sports, acquiring the 64% of David Portnoy’s sports and entertainment media outlet it didn’t previously own for $388 million. The casino operator put the finishing touches on the transaction almost exactly three years...
Rio Back in Play as Potential Site of Las Vegas Baseball Stadium
Long-running rumors about the Rio Hotel & Casino Las Vegas potentially becoming the site of a Major League Baseball (MLB) stadium resurfaced Thursday. That added a third venue to the list of candidates that eventually may be the home ballpark for the...
DraftKings Jumps On Improved 2023 Guidance
DraftKings (NASDAQ: DKNG) surged in Thursday’s after-hours trading session after the online sportsbook operator revealed improved 2023 top and bottom-line guidance. The gaming company increased the midpoint of its 2023 revenue outlook to $2.95 billion from $2.9 billion while boosting the midpoint...
Aristocrat to Provide Online Casino Content to BetMGM
Aristocrat Leisure Ltd. and BetMGM announced Thursday that the slot machine manufacturer’s online unit will supply the gaming company with content for its internet casino. Aristocrat’s newly formed Anaxi business will deliver gaming content to the internet casino giant. Formed last year...
