5136 stories by Todd Shriber
Light & Wonder Accepting Lower Price on OpenBet Sale to Endeavor
Light & Wonder (NASDAQ:LNW) and Endeavor Group Holdings, Inc. (NYSE:EDR) are amending their accord pertaining to the previously announced sale of the OpenBet sports wagering business. It now indicates the seller will accept $800 million -- significantly lower than the original price...
Sands Rebound Needs Two More Years, Says Moody’s
Wary Las Vegas Sands (NYSE:LVS) investors waiting on the casino operator to regain its lost form may be waiting another two years. That according to Moody’s Investors Service, which says a full rebound for the Macau giant may not materialize until 2024....
Louisiana Moving Cash from Dormant Sports Betting Accounts to Unclaimed Property Fund
Louisiana will soon move cash from inactive sports wagering accounts to the state’s unclaimed property fund. That will potentially giving the state access to bettors’ forgotten funds. Under Act 510, which was signed into law by Gov. John Bel Edwards (D-LA) earlier...
Las Vegas Sands Among Top S&P 500 Spenders on Private Jets for Executives
Spending by S&P 500 companies on private air travel for top executives hit a record last year, and Las Vegas Sands (NYSE:LVS) was among the contributors to that trend. ISS Corporate Solutions, a unit of Institutional Shareholder Services -- an advisor to...
Gaming and Leisure Draws Praise for Rhode Island Casino Buy
Analysts are constructive on Gaming and Leisure Properties (NASDAQ:GLPI) buying two Rhode Island casinos and leasing those venues back to operator Bally’s (NYSE:BALY) -- a transaction that was announced late Tuesday. Shares of the gaming real estate investment trust (REIT) are lower...
Bally’s Sets $1B Rhode Island Casino Property Deal with Gaming and Leisure
Bally’s (NYSE:BALY) is selling the property assets of its two Rhode Island casinos to Gaming and Leisure Properties (NASDAQ:GLPI) for $1 billion. It will leaseback the venues from the gaming landlord, the companies announced today. Details of the transaction for Bally’s Twin...
Gaming Stock Degradation ‘Overkill,’ Upside Available, Says B. Riley Analyst
Amid escalating fears that a recession is either here or soon will be, gaming stocks are among the most repudiated fare on Wall Street. But some analysts believe the group is enduring overly harsh punishment. In a note to clients today, B....
DraftKings, Penn National Offer Big Upside Potential, Says Analyst
In new, sweeping coverage of gaming equities, JMP Securities analyst Jordan Bender highlights downtrodden DraftKings (NASDAQ:DKNG) and Penn National Gaming (NASDAQ:PENN) as two of the stocks offering investors significant upside potential. Bender’s calls on DraftKings and Penn arrive with gaming stocks out...
Playtika Selling Controlling Stake to Joffre Capital
Technology buyout fund Joffre Capital is acquiring a controlling interest in mobile gaming company Playtika (NASDAQ:PLTK) from majority investor Playtika Holding UK II Limited (PHUK II). Joffre is paying PHUK II $21 a share for a 20% stake in Playtika -- a...
MGM Extends Branding Accord with Macau Unit
MGM China has reached an agreement MGM Resorts International (NYSE:MGM) to continue using one of the gaming industry’s most recognizable brands. The Chinese entity is the Macau arm of the Las Vegas-based gaming behemoth and operates MGM Cotai and MGM Macau in...
