5136 stories by Todd Shriber
Casino Stock Winners Have Free Cash Flow, Online Exposure
Casino stocks are incurring plenty of punishment this year, but some analysts see opportunity in the group. That's particularly among digital gaming names, as well as those generating ample amounts of free cash flow. While gross gaming revenue (GGR) at regional casinos...
Red Rock Resorts Shuttering Wild Wild West, Will Redevelop Property
Red Rock Resorts (NASDAQ:RRR) said today it is closing the Wild Wild West Gambling Hall & Hotel. That venue will be demolished in anticipation of future redevelopment. Wild Wild West, which is located at the intersection of I-15 and Tropicana, did away...
Penn Entertainment Pushed Out of S&P 500
Penn Entertainment’s (NASDAQ:PENN) lengthy share price decline is leading to the stock’s removal from the S&P 500. S&P Dow Jones Indices made the announcement today after the close of US markets, noting the regional casino operator and PVH Corp. (NYSE:PVH) are getting...
IGT Will Repurchase up to $500M of Outstanding Debt
International Game Technology (NYSE:IGT) is taking added steps to firm its balance sheet. Today, it told investors it will repurchase up to $500 million worth of its outstanding corporate debt. The slot machine manufacturer said the buyback plan will pertain to two...
Macau Slots, Table Games Limit Could Pinch Sands China
Even distribution of slot machines and table games across the various integrated resorts operated by Macau concessionaires could be problematic for Sands China, according to Morgan Stanley analysts. Under the special administrative region’s (SAR) new gaming laws, regulators limit slots to 12,000...
Regional Casinos Get July Boost from Lower Gas Prices
The national average gas price is $3.829 per gallon, according to AAA, well above levels seen in late 2020, but off the highs set earlier this year. Those declines provided some support to regional casinos’ July gross gaming revenue (GGR) figures. GGR...
MGM Says 96 Percent of LeoVegas Investors Accept Takeover Offer
MGM Resorts International (NYSE:MGM) said today that 96% of LeoVegas AB investors voted in favor of the casino operator’s takeover of the Swedish gaming company. The price at which those investors accepted a public tender offer is the equivalent of $5.72 a...
Ontario 2Q GGR Underwhelming, Not Catalyst for Penn Stock, Says Analyst
On Tuesday, Ontario finally updated analysts, investors and market observers on its iGaming and sports betting handle and revenue. The update encompassed the time span since the rollout of those activities in early April. Suffice to say, Canada’s largest province disappointed. Data...
Light & Wonder CEO Transition Applauded By Analyst
Light & Wonder (NASDAQ: LNW) announced late Tuesday that Barry Cottle resigned as chief executive officer and president. He also left the company’s board, with Matt Wilson stepping in as interim CEO -- a change that’s drawing praise from some analysts. In...
Circa Debuts New Convention Center in Downtown Las Vegas
Circa Resort & Casino is throwing its hat in the ultra-competitive Las Vegas conventions and meetings arena. It announced today its convention space is open for business. The 35,000-square-foot venue, located in downtown Las Vegas, is part of the second phase of...
