4982 stories by Todd Shriber
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...
MGM Could Mull Another Offer for Entain at 50 Percent Premium, Says Citi Analyst
MGM Resorts International (NYSE:MGM) could ready another takeover offer for its BetMGM partner Entain Plc (OTC:GMVHY) after failing in that pursuit in January 2021. A combination of Entain’s slumping share price and the US dollar’s strength relative to the British pound could...
Caesars CEO Reeg Signs onto Disability Equality Index
Caesars Entertainment (NASDAQ:CZR) CEO Tom Reeg is joining colleagues from a variety of industries in signing onto the Disability:IN CEO Letter on Disability Inclusion. Included in joining forces with other chief executive officers to sign that letter, Caesars participates in the Disability...
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...
Gaming Suppliers AGS and Everi Offer Big Upside Potential, Says Analyst
Gaming supplier stocks, such as AGS (NYSE:AGS) and Everi Holdings (NYSE:EVRI), are following the broader complex of casino equities lower this year. But at least one analyst sees room for significant upside with these names. In a note to clients today, B....
Sands Stock Attractive on Risk/Reward Basis, Says JPMorgan Analyst
Despite considerable challenges in Macau, which is the company’s marquee market, Las Vegas Sands (NYSE:LVS) offers investors a favorable risk/reward setup. That's particularly true if momentum builds at Marina Bay Sands in Singapore. That’s the sentiment of JPMorgan analyst Joseph Greff, who...
