5361 stories by Todd Shriber
MGM, IAC Buying $405M in Stock from Corvex Management
MGM Resorts International (NYSE:MGM) and Barry Diller’s IAC/InterActiveCorp (NASDAQ:IAC) announced today they are buying nine million shares of the casino operator. The purchase comes from shares held by Keith Meister’s Corvex Management at $45 apiece in a transactions valued at $405 million....
Kambi Could Be Takeover Target After Ditching Poison Pill
Takeover speculation is swirling around Kambi Group Plc (OTC:KMBIF). That's after the sports betting platform provider ditched a poison pill provision hindering its ability to be acquired. Kambi said last week it satisfied the terms of a $8.5 million convertible bond agreement...
BetMGM Debuts Sports Wagering in Puerto Rico Ahead of Super Bowl
Just in the nick of time for Super Bowl LVI, BetMGM is launching sports wagering in Puerto Rico -- the operator's initial foray outside the continental US. BetMGM is now available at Casino del Mar at La Concha Resort in San Juan....
DraftKings Stock Wild Ahead of Super Bowl
DraftKings (NASDAQ:DKNG) stock is experiencing a turbulent day ahead of Super Bowl LVI and ahead of the company's fourth-quarter earnings report on Feb. 18. Earlier today, the downtrodden stock traded higher by as much as 7.6 percent, providing hope that it might...
Monarch Casino Smashes Q4 Estimates on Black Hawk Ramp
Shares of Monarch Casino & Resort (NASDAQ:MCRI) are soaring Thursday. That's after the regional casino operator reported estimate-trouncing fourth-quarter results, and as an analyst ups his outlook on the stock. In midday trading, Monarch stock is higher by nearly eight percent on...
MGM on Buyback Binge, Sees Cosmopolitan Buy Closing in Q2
MGM Resorts International (NYSE:MGM) reported fourth quarter results that blew past Wall Street estimates. That's while noting it's buying back a significant amount of its stock, and that a pair of marquee transactions are slated to close in the second quarter. In...
VICI Properties Boosts Borrowing Capabilities With $3.5B Credit Facility, Term Loan
VICI Properties (NYSE:VICI), the largest casino landlord, is expanding its borrowing capacity in a significant fashion. The company now has access to a new, undrawn combined $3.5 billion unsecured credit facility and a term loan. The gaming real estate investment trust (REIT)...
Penn National Stock Rallies on Susquehanna Upgrade
Penn National Gaming (NASDAQ:PENN) stock is soaring Wednesday. That's after a sell-side analyst waxed bullish on the company's digital gaming unit. In a note to clients, Susquehanna analyst Joseph Stauff lifts his rating on Penn to “positive” from “neutral,” while boosting his...
Caesars Digital Betting Biz Valuation Not Adequately Appreciated, Says Analyst
Caesars Entertainment (NASDAQ:CZR) is a rising force in the internet casino and online sports betting industries. But an analyst argues the current share price implies negative value for the digital business, while lower-quality rivals command billions of dollars in equity value for...
Nevada Rep. Susie Lee Discloses Husband Purchased Wynn Resorts Shares
Rep. Susie Lee (D-NV) revealed her soon-to-be former husband, Dan Lee, recently purchased shares of Wynn Resorts (NASDAQ:WYNN). In a periodic transaction report with the clerk of the House of Representatives, Lee, who represents Nevada's third congressional district, disclosed that her husband...
