5034 stories by Todd Shriber
MGM Q3 Strip Revenue Soars, Still Pursuing New York, Osaka Licenses
Bolstered by an impressive showing on the Las Vegas Strip, MGM Resorts International (NYSE:MGM) reported a 26% year-over-year jump in third-quarter revenue, handily beating Wall Street estimates. The July through September period of 2022 now ranks as the Bellagio operator’s best quarter...
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...
Caesars Halts Plans to Sell Las Vegas Strip Property
One of the longest-running Las Vegas Strip transaction rumors was put to bed earlier this afternoon. That's when Caesars Entertainment (NASDAQ:CZR) management said the company will not proceed with selling one of its Sin City assets. CEO Tom Reeg made the comments...
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...
Wynn Surges on Speculation Tilman Fertitta Stake Could Lead to Takeover Bid
Wynn Resorts (NASDAQ: WYNN) was one of Tuesday’s best-performing gaming equities, surging 6.2% on volume that was more than double the daily average. That's amid speculation Tilman Fertitta could make a takeover bid for the company. Shares of the Encore operator soared...
Former Wynn CEO Matt Maddox May Be Mulling Downtown Vegas Acquisition
Former Wynn Resorts (NASDAQ:WYNN) CEO Matt Maddox may be looking to get back into the casino business. He could be mulling the purchase of a gaming venue in downtown Las Vegas to accomplish that objective. Maddox departed Wynn earlier this year and...
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...
Tilman Fertitta Takes 6.1% Stake in Wynn Resorts
Tilman Fertitta’s Fertitta Entertainment includes the Golden Nugget casino empire. But the billionaire businessman is investing in rival Wynn Resorts (NASDAQ: WYNN) as well. A Schedule 13G filing with the Securities and Exchange Commission (SEC) indicates Fertitta Entertainment, Fertitta himself, and another...
