4982 stories by Todd Shriber
Caesars Trims Interest Expenses with $3B in Fresh Credit Facilities
Caesars Entertainment (NASDAQ: CZR) is making moves to reduce one of the gaming industry’s largest debt burdens, announcing today it procured $3 billion in new senior secured credit facilities maturing in 2028. Those fresh financing avenues consist of a $750 million senior...
Bally’s Traffic Study for Temp Casino Skewered by Chicago Alderman
Chicago Alderman Brendan Reilly is blasting a traffic study paid for by Bally’s Corp., claiming the survey doesn’t account for rising crime in the neighborhood where a temporary casino would be staged. The Ballys examination paves the way for the gaming company...
MGM Unlikely to Bid Anew for Entain as Economy Crimps Financing
The deteriorating global macroeconomic environment is crimping financing avenues, indicating a pause in large-scale mergers and acquisitions could be a result. Some analysts believe that’s relevant to suitors considering gaming industry targets, including MGM Resorts International (NYSE: MGM), potentially revisiting a takeover...
Regional Casino Q3 Earnings Could Impress, Analyst Has Penn Concerns
Third-quarter earnings season starts in earnest next week, and downtrodden shares of regional casino operators could give investors something to talk about. Gross gaming revenue (GGR) trends in the group remain sturdy. That, despite expectations to the contrary, prompted analysts earlier this...
Bill Foley Shuttering Two SPACs, Including One Involved in Scrapped WynnBET Merger
Las Vegas Golden Knights owner Bill Foley is closing two special purpose acquisition companies (SPACs), one of which was involved in a now-defunct gaming industry reverse merger. In the latest sign of a significant cooling down period in the blank-check space, Foley...
SPAC 26 Capital Delays Okada Manila Merger by a Year
Amid an ongoing ownership rift between founder Kazuo Okada and Universal Entertainment, Okada Manila and Jason Ader’s special purpose acquisition company (SPAC) 26 Capital Acquisition Corp. (NASDAQ: ADER) is delaying previously announced merger plans by a year. The news emerged just over...
Everi Buying Venuetize Assets to Boost Loyal Engagement Tech
Everi Holdings (NYSE: EVRI) revealed its first acquisition outside the gaming business on Tuesday, announcing its purchase of certain assets from Venuetize, Inc. Privately held Venuetize specializes in mobile technologies. While it’s not a dedicated gaming company, it has some ties to...
SciPlay Soars After Activist Investor Urges Sale to Light & Wonder
Shares of SciPlay (NASDAQ: SCPL) surged 5.68% in Monday’s extended trading session. That's after activist investor Engine Capital pushed the mobile games developer to consider selling itself to Light & Wonder (NASDAQ: LNW). Slot machine maker Light & Wonder, formerly known as...
Circa Rolls Out ‘Empathy Package’ for Survivor Losers
Four weeks of the 2022 NFL season are in the books, and it’s fair to say the trend of underdogs winning outright is great news for sportsbooks and lousy for participants in survivor pools, such as Circa Survivor. But the gaming company...
Caesars Stock Could Be a Double in the Making
Caesars Entertainment (NASDAQ: CZR) stock lost nearly two-thirds of its value year-to-date and needs to more than triple to reclaim its 52-week high. Despite those ominous statistics, some market observers believe there’s considerable upside potential in shares of the Harrah’s operator. The...
