5034 stories by Todd Shriber
David Tepper Adds Caesars, Drops Sands, Wynn from Appaloosa Portfolio
David Tepper’s Appaloosa Management reconfigured its exposure to casino stocks in the second quarter, adding a new position in Caesars Entertainment (NASDAQ:CZR) while eliminating stakes in Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN). Sands and Wynn, which control a combined seven...
AGS/Inspire Deal Would Be Accretive, Boost Free Cash Flow, Says Analyst
Shares of gaming device maker AGS (NYSE:AGS) jumped 7.78% today on more than double the average daily volume. That's as market participants digested news of the company rebuffing a $10 per share takeover bid, reportedly from Inspired Entertainment (NASDAQ:INSE). AGS revealed it...
Daniel Loeb Pushes Disney for ESPN Spinoff, Sees Sports Betting Opportunity
Daniel Loeb’s Third Point hedge fund has initiated a new position in Walt Disney (NYSE:DIS) said to be worth about $1 billion. He's pushing the company to spin off ESPN. The move could make it easier for the network to forge into...
Entain Buying Binge Makes MGM Deal Trickier
Entain Plc (OTC:GMVHY) is on a deal-making spree, and that added heft could make it harder and more expensive for MGM Resorts International (NYSE:MGM) to potentially revisit a takeover bid for the Ladbrokes owner. Last week, Entain announced it is acquiring 75%...
Golden Entertainment Considering Options for Closed Laughlin Riverfront Casino
Golden Entertainment’s (NASDAQ:GDEN) Colorado Belle Casino Resort in Laughlin, Nev., is approaching 30 months in closure. The operator is mulling options for the venue. In response to a question from B. Riley analyst David Bain, Golden CEO Blake Sartini addressed the matter...
Soros Fund Management Eliminates Caesars, MGM Stakes, Adds Sands
Soros Fund Management, the family office of billionaire financier George Soros, sold positions in Caesars Entertainment (NASDAQ:CZR) and MGM Resorts International (NYSE:MGM) in the second quarter. During the April through June period, the investment vehicle eliminated 31 positions. By order of size,...
AGS Confirms Receipt of Takeover Offer, Ongoing Talks
Slot machine maker AGS (NYSE:AGS) confirmed it received a $10 a share takeover offer, which explains the stock’s 25.25% jump today, adding the bid wasn’t accepted. In a Form 8-K filing with the Securities and Exchange Commission (SEC), AGS doesn’t identify from...
Las Vegas Gaming Revenue Poised to Slump in 2023, Says Fitch
Led by Las Vegas, the US casino industry is on a record-shattering pace of revenue generation this year. But Sin City gaming revenue could retreat in 2023. Citing the possibility of a broader economic retrenchment, Fitch Ratings says Sin City gaming revenue...
AGS Soars on Reported Inspired Entertainment Takeover Bid
Device manufacturer AGS (NYSE:AGS) was easily one of Friday’s top-performing gaming stocks, surging 25.25% on volume that was about eight times the daily average. That came on reports Inspired Entertainment (NASDAQ:INSE) is moving to acquire the Las Vegas-based slot machine maker. Unidentified...
FuboTV Soars on Renewed Takeover Chatter
Shares of FuboTV (NYSE:FUBO) surged 15% Thursday on volume that was more than double the daily average. The spike came amid renewed speculation the streaming entertainment company is a potential takeover target. An article published earlier today by SportsHandle suggests fuboTV could...
