4979 stories by Todd Shriber
SciPlay Investor Engine Capital Pressing for Info on Light & Wonder Talks
Activist investor Engine Capital recently sent a letter to the board of SciPlay Corp. (NASDAQ:SCPL), pressing the gaming company for an update on its intellectual property (IP) negotiations with Light & Wonder (NASDAQ:LNW). Engine Capital owns 7.4% of SciPlay’s outstanding shares. That...
Caesars Earns Overweight Rating in New JPMorgan Coverage
Shares of Caesars Entertainment (NASDAQ:CZR) are enjoying a modest bounce today. That's after JPMorgan analyst Joseph Greff restarts coverage of the casino operator with a bullish call. In a note to clients, Greff reinstates the Horseshoe operator with an “overweight” rating and...
MGM CFO Jonathan Halkyard Forecasts Additional M&A, Share Buybacks
MGM Resorts International (NYSE:MGM) could participate in more mergers and acquisitions activity and continue buying back its slumping stock, its chief financial officer said at an industry conference. Speaking by phone at the Jefferies Global Consumer Conference earlier today, MGM CFO Jonathan...
Caesars, Penn National to Be Avoided or Shorted, Says Wells Fargo
Second-quarter earnings season could be challenging for companies across a variety of industries. With casino equities slumping, Wells Fargo is telling clients to avoid or short Caesars Entertainment (NASDAQ:CZR) and Penn National Gaming (NASDAQ:PENN). On the back of a 17.31% loss over...
Las Vegas Sands Stripped of Investment-Grade Rating by Fitch
Amid a slower-than-expected recovery in Macau, Las Vegas Sands (NYSE:LVS) is the latest casino operator to see its investment-grade credit mark pulled by a major ratings agency. Fitch Ratings recently downgraded the Venetian Macau operator to 'BB+' from 'BBB-' while maintaining “credit...
AGS Gaming Tech Company Bullish on Supreme Court Texas Bingo Ruling
The Supreme Court ruled on Wednesday that Texas cannot block the Ysleta del Sur Pueblo from offering bingo games on its reservation near El Paso. Gaming company AGS (NYSE:AGS) is bullish on the high court’s decision. The decision extends the Supreme Court’s...
Sands China, Wynn Macau Most Affected by Macau Dividend Rule, Says Bank
Under Macau’s new gaming law, concessionaires need to notify Chief Executive Ho Iat-seng of plans to pay dividends. Credit Suisse analysts say Sands China and Wynn Macau are the operators most affected by that requirement. The final draft of Macau’s amended gaming...
LVS Needs to Provide Capital to Sands China, Says Credit Suisse
Las Vegas Sands (NYSE:LVS) needs to provide its Sands China unit with $413 million in cash to come into compliance with Macau’s new gaming laws, according to Credit Suisse. Analysts at the bank say Sands China is currently the only one of...
Texas Tribe Hits Bingo in Supreme Court Case
The Ysleta del Sur Pueblo, a Texas Native American tribe, scored a Supreme Court victory today in its quest to offer bingo games in the second-largest state. In a 5-4 ruling, the Court said federal law doesn’t allow Texas to prevent the...
Wynn Loan to Macau Unit Negative Sign, Others Could Follow, Says Morgan Stanley
Wynn Resorts (NASDAQ:WYNN) extending a $500 million credit revolver to its Wynn Macau unit is a negative sign. But other concessionaires in the world’s largest casino center could follow, according to Morgan Stanley analysts. The bank says the move by Wynn implies...
