4979 stories by Todd Shriber
BetMGM Forecasts 2022 Revenue of $1.3B, Sees US Market Share up to 25%
BetMGM held its Investor Day today, telling analysts it generated about $850 million in revenue last year while forecasting significant top line growth to $1.3 billion in 2022. The 50/50 joint venture between MGM Resorts International (NYSE:MGM) and Entain Plc (OTC:GMVHY) says...
MGM Credit Outlook Negative Amid Macau Uncertainty, Fitch Pulls Rating
MGM Resorts International (NYSE:MGM) still faces regulatory uncertainty in Macau, and that’s prompting Fitch Ratings to maintain a “negative” rating watch on the casino operator. The research firm also pulled its credit rating on the gaming company. MGM owns about 56% of...
Blackstone Lavishes $5K Bonuses Upon Cosmopolitan Staffers
Talk about a parting gift. Blackstone (NYSE:BX) will soon cede operational control of the Cosmopolitan Las Vegas to MGM Resorts International (NYSE:MGM). But the private equity company is doling out $5,000 bonuses to the integrated resorts 5,400 employees. At an event for...
Playtika Mum on Potential Sale, Analysts Pare Price Targets
Shares of Playtika (NASDAQ:PLTK) are surging today despite the company reporting downbeat first-quarter results and not providing an update on a potential sale. In midday trading, the mobile gaming company is higher by 6.15%, stemming a 31% slide over the past week....
Floyd Mayweather Prints Mint on Canelo Upset
Floyd “Money” Mayweather knows a little something about boxing. He’s also a devoted sports bettor. That combination proved beneficial last Saturday. The Las Vegas resident, who finished his career with an immaculate 50-0 record, wagered $10,000 on WBA light heavyweight champion Dmitry...
Venetian Operator Apollo Reportedly Involved in Financing Musk Twitter Takeover
Private equity firm Apollo Global Management (NYSE:APO), which operates the Venetian integrated resort on the Las Vegas Strip, is rumored to be in talks to contribute financing for Elon Musk’s $44 billion takeover of Twitter (NYSE:TWTR). Musk’s bid for the social media...
Wynn Expresses Interest in New York Casino License as Macau Recovery Lags
Wynn Resorts (NASDAQ:WYNN) is, in fact, interested in opening an integrated resort in New York City, confirming as much on its first-quarter earnings conference call late Tuesday. In response to a question from UBS analyst Robin Farley on the call, new Wynn...
Everi Soars on $150M Buyback Plan
On a mixed day for gaming equities, Everi Holdings (NYSE:EVRI)is one of the standouts. That's after the slot machine manufacturer and provider of cashless gaming systems reported decent first-quarter results while unveiling a share repurchase program. In late trading, Everi is higher...
IAC Hits Home Run on MGM Investment
Gaming stocks of all stripes are tumbling this year amid persistent inflation and rising interest rates, among other macroeconomic headwinds. While MGM Resorts International (NYSE:MGM) isn’t immune from that slump, Barry Diller’s IAC/InterActiveCorp (NASDAQ:IAC) is highlighting its investment in the casino operator....
Circa Sports Entering Illinois Via Full House Resorts Partnership
The Illinois sports wagering market will soon welcome one of the industry’s fastest-growing players with the arrival of Circa Sports. Las Vegas-based Circa Sports is entering Illinois through an agreement with regional casino operator Full House Resorts (NASDAQ:FLL). In releasing first-quarter results...
