5316 stories by Todd Shriber
Caesars Downgraded, as KeyBanc Sees Macro Concerns for Leisure Stocks
Caesars Entertainment (NASDAQ:CZR) is dealing with a downgrade today, as another research firm cites macroeconomic risks as a potential drag on leisure stocks. In a note to clients, KeyBanc analyst Brett Andress downgrades Caesars to “sector weight” from “overweight,” while broadly recommending...
Wynn Again Tops Travel + Leisure Las Vegas Hotel List
Wynn Resorts’ eponymous Las Vegas venue is adding another accolade, topping Travel + Leisure’s Sin City hotel rankings for a third consecutive year. In the publication’s 2022 “best of” awards, which surveys readers, Wynn Las Vegas scores 91.89, beating second-place Cosmopolitan by...
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...
Silverton Las Vegas Planning Major Remodel, Eyes Pahrump Venue
The Silverton Casino-Hotel, an off-Strip Las Vegas venue, is planning a major overhaul in celebration of its 25th anniversary. But the gaming area will remain open while the hotel is enhanced. The $45 million refurbishment will feature 300 rooms across three Western...
Boyd Gaming Las Vegas Exposure Heralded by Analyst
Gaming stocks are getting drilled Monday. But there are some pockets of good news in the space, with Boyd Gaming (NYSE:BYD) being the prime example. In new coverage of the Aliante owner, Loop Capital analyst Daniel Adam tags the stock with a...
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...
