5213 stories by Todd Shriber
Elys Game Technology Says Markets Aren’t Giving Stock Adequate Appreciation
Elys Game Technology (NASDAQ: ELYS), a gaming technology provider, entered Wednesday’s trading session with a market capitalization of just $7.61 million and a year-to-date loss of 87.79%. But the company says those statistics indicate financial markets don’t fully appreciate the underlying investment...
Buffalo Bill’s Primm Finally Open Again After Lengthy COVID-19 Closure
Buffalo Bill’s Resort & Casino in Primm, Nevada reopened last Friday after a more than two-year closure forced by the coronavirus pandemic. In March 2020, all Nevada gaming venues were temporarily shuttered by COVID-19 mandates. By 2021, the bulk of those properties...
Macau GGR Could Perk Up as Soon as Early 2023
After nearly three years of dashed hopes and disappointments, Macau gross gaming revenue (GGR) could finally swing higher in 2023. That recovery could start almost as soon as the calendar changes to January. In a new note to clients, UBS analyst Angus...
Wynn Resorts Leverage Tipped to Remain Elevated, Says Moody’s
Leverage at Wynn Resorts’ (NASDAQ: WYNN) financing unit is poised to remain elevated over the next 12 to 18 months, as the casino operator looks to get back on track in Macau. In a recent report, Moody’s Investors Service forecasts leverage of...
Ruffin Didn’t Bid for Mirage Because He Wanted Real Estate, Too
Billionaire Phil Ruffin didn’t make a run at the Mirage when MGM Resorts International (NYSE:MGM) was shopping the casino-resort. That's because he wanted the land, not just the operating rights. The Treasure Island owner made those remarks in an interview with the...
Las Vegas Sands Pulled From Fitch Ratings Watch as Macau Renewal Risk Ends
Las Vegas Sands (NYSE:LVS) still sports a junk credit grade of “BB+” from Fitch Ratings. But the research firm pulled the casino operator from its rating watch negative list following recent renewal of the operator’s Macau gaming license. The ratings agency still...
Casino REITs Could Be ‘Attractive Partners’ for Six Flags Land, Says Investment Manager
Jonathan Litt’s Land & Buildings Investment Management, LLC (L&B) is pushing Six Flags Entertainment (NYSE: SIX) to monetize its property holdings. It notes that casino landlords are among the real estate investment trusts (REITs) that could be sensible buyers of the land....
Sportradar Gains Financial Flexibility Via Loan Prepayment
Sports betting data provider Sportradar (NASDAQ: SRAD) will enter 2023 with new-found financial flexibility after the company prepaid a nearly $446 million term loan. Not only does that early payment reduce leverage, it strengthens the Swiss company’s balance sheet while providing more...
Maverick Gaming Boosts Washington Card Room Exposure in Evergreen Gaming Buy
Maverick Gaming has cemented its status as the dominant card room operator in Washington State by paying $80.47 million in cash for rival Evergreen Gaming. Evergreen operated four card rooms in the state: Chips Casino in Lakewood, Goldies Casino in Shoreline, Palace...
Century Casinos, PlayAGS Among Deep-Value Gaming Equity Ideas for 2023
Amid a mostly brutal year for gaming equities, particularly those in the small-cap arena, there are plenty of deep-value ideas for investors to mull heading into 2023. In a new report to clients, Roth Capital analyst Edward Engel highlights Century Casinos (NASDAQ:...
