5449 stories by Todd Shriber
MGM Resorts Enters Marketing Deal with MLB Players
MGM Resorts International today announced it’s becoming a partner of MLB Players, Inc. -- the business arm of the Major League Baseball Players Association (MLBPA) -- gaining group marketing rights and access to MLB Players branding. Financial terms of the accord weren’t...
King Dollar Could Make Court Jesters of Some Casino Stocks
A typical result of rising US interest rates is a soaring dollar, and that trend is repeating in 2022. That potentially means pain for companies that generate significant portions of revenue overseas, including some casino operators. The Invesco DB US Dollar Index...
Tilman Fertitta Steak Chain Condemns Anti-Kavanaugh Protest
Morton’s The Steakhouse is blasting pro-abortion protestors that disrupted the dining experience of Supreme Court Justice Brett Kavanaugh and other guests at the chain’s Washington, DC restaurant on Wednesday night. Morton’s is part of the sprawling Landry’s restaurant empire controlled by Tillman...
Okada Manila Flap Highlights Risks of Foreign SPAC Deals
The saga surrounding Okada Manila and efforts by a US-based special purpose acquisition company (SPAC) to bring the Philippine integrated resort operator public is one of the more unusual events in the gaming industry in recent memory. It is also one that...
Seasonal Lethargy Setting in for Sportsbook Operators, Promo Spending Declining
It’s July, meaning sportsbook operators are smack in the middle of the annual seasonal slowdown owing to a slow sports calendar. But it’s possible June through August lethargy could provide support to downtrodden sports betting equities. In a recent note to clients,...
S&P Forecasts Dismal 2022 GGR Tally in Macau, Could Cut Credit Ratings on Three Operators
Amid a recent surge in coronavirus cases, Macau casinos are hardly open, and some are being used as quarantine zones. That's prompting one ratings agency to issue a bleak 2022 gross gaming revenue (GGR) forecast for the special administrative region (SAR). In...
DraftKings Stock Endures Two Price Target Cuts, Analysts Forecast Big California Costs
DraftKings (NASDAQ:DKNG) is pointing higher in late trading Thursday despite being on the receiving end of two price target reductions by Wall Street analysts. In a note to clients today, Citi analyst Jason Bazinet trimmed his price forecast on the sportsbook operator...
NBA G League Team Eyeing Las Vegas Move
It’s not the professional basketball franchise many Las Vegans are hoping for. But it looks like the gaming hub will be home to a team from the NBA’s G League -- the association’s developmental arm. NBA G League Ignite reportedly filed paperwork...
Early Warning Signs Emerging in Gaming Space, Says Analyst
Gaming stocks languished alongside the broader market in the first half of 2022, despite robust demand and strong margin growth. Now, it appears the toll of an inhospitable macroeconomic environment -- one rooted in rising interest rates, sagging consumer confidence, and persistent...
MGM Brand Heading to Shanghai for Non-Gaming Hotel
MGM Resorts International is bringing its iconic brand to Shanghai -- China’s most populous city -- for a new, non-gaming hotel. Diaoyutai MGM Hospitality said today it reached an agreement with Shanghai West Bund Development (Group) Co., Ltd. to apply the venerable...
