5211 stories by Todd Shriber
NBA G League Team Eyeing Las Vegas Move
It’s not the professional basketball franchise many Las Vegans are hoping for. But it looks like the gaming hub will be home to a team from the NBA’s G League -- the association’s developmental arm. NBA G League Ignite reportedly filed paperwork...
Early Warning Signs Emerging in Gaming Space, Says Analyst
Gaming stocks languished alongside the broader market in the first half of 2022, despite robust demand and strong margin growth. Now, it appears the toll of an inhospitable macroeconomic environment -- one rooted in rising interest rates, sagging consumer confidence, and persistent...
MGM Brand Heading to Shanghai for Non-Gaming Hotel
MGM Resorts International is bringing its iconic brand to Shanghai -- China’s most populous city -- for a new, non-gaming hotel. Diaoyutai MGM Hospitality said today it reached an agreement with Shanghai West Bund Development (Group) Co., Ltd. to apply the venerable...
Red Rock Resorts Bringing Wildfire Casino to Downtown Las Vegas
Red Rock Resorts (NASDAQ:RRR) is one of the dominant operators of locals-oriented casinos throughout the Las Vegas Valley. It’s looking to cement that status with the addition of a new gaming venue downtown. The Station Casinos parent is bringing a Wildfire casino...
Penn National, Sands Stocks Could Experience Ides of July
The S&P 500 is coming off its worst first six-month start in 50 years, and gaming stocks weren’t immune to that carnage. Things may get worse for some gaming stocks before they get better. While the S&P 500 averaged a July gain...
Wynn Macau Licensing Agreement Limited to $74.5M
Wynn Macau has reached an agreement with Wynn Resorts (NASDAQ:WYNN) -- its US-based parent -- whereby the Chinese gaming entity’s licensing obligations to the Las Vegas company will be capped at $74.5 million. The accord pertains to the Macau operator’s rights to...
Caesars Wraps Up William Hill Asset Sale to 888, Will Allocate Cash to Paring Debt
Caesars Entertainment (NASDAQ:CZR) announced today that it closed the sale of William Hill’s international assets to 888 Holdings. After counting for fees and taxes, the US casino giant is garnering $730 million in net proceeds, meaning the gross sale price was around...
Oakland Votes to Reclassify Port, Deals Blow to Las Vegas A’s Hopes
On Thursday, the San Francisco Bay Conservation and Development Commission voted to alter the classification of a terminal at the Port of Oakland. That potentially deals a blow to Las Vegas’s hopes of being the next home of the Oakland Athletics. The...
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....
