4979 stories by Todd Shriber
Capital Group Trims Wynn Macau Investment, Grosses $11.5 Million
Mutual fund giant Capital Group recently reduced its stake in Wynn Macau, grossing $11.5 million last week in proceeds after selling just over 19.45 million shares of the gaming operator. California-based Capital Group, which issues mutual funds under the American Funds brand,...
Lawrence Ho’s Black Spade SPAC to List in Hong Kong
Black Spade Acquisition, a special purpose acquisition company (SPAC) controlled by Melco Resorts & Entertainment (NASDAQ:MLCO) Chairman Lawrence Ho, is planning to list on the Hong Kong stock exchange, according to a recent regulatory filing. The blank check company is working with...
DraftKings Called Favored Short By Analyst Jim Chanos, Remains Bearish
Kynikos Associates founder Jim Chanos is still bearish on DraftKings (NASDAQ:DKNG), despite the fact that the online sportsbook operator's shares surged nearly 22 percent this week. In an interview today with CNBC, the famed short seller reiterated his negative views on the...
Caesars Entertainment Eliminates NeoGames Stake
Caesars Entertainment (NASDAQ:CZR) is no longer a shareholder in internet lottery operator NeoGames (NASDAQ:NGMS). Earlier this week, the casino giant sold its remaining position in the Israeli company, according to a Form 13D/A filing with the Securities and Exchange Commission (SEC). On...
DraftKings Encounters Tech Issues on March Madness Day Following Gonzaga Promo Bet
DraftKings' (NASDAQ:DKNG) servers picked an awful time to go down -- doing so on Thursday, the first day of the NCAA Tournament. Here's what happened. In the early window of opening round games yesterday, DraftKings offered clients a maximum $50 moneyline bet...
Nevada Gaming Comm. Delays Licensing MGM Investor Barry Diller Amid SEC Probe
The Nevada Gaming Commission (NGC) is postponing licensing of Barry Diller -- the media mogul whose IAC/InterActiveCorp (NASDAQ:IAC) is the largest shareholder in MGM Resorts International (NYSE:MGM) -- amid a federal investigation into his options trades in Activision (NASDAQ:ATVII) prior to Microsoft...
Wynn Resorts Wins Travel + Leisure Sustainability Award
Sustainability and environmental, social, and governance (ESG) practices are all the rage in Corporate America. And gaming companies, including Wynn Resorts, are participating in that trend. The integrated resort operator is one of six hoteliers to win a “Global Vision Award” from...
Macau Concessionaires Packing on Debt
Macau's six gaming operators are seeing debt burdens swell in the wake of the coronavirus pandemic, and that's a drag on equity prices, says Morgan Stanley. Prior to the global health crisis, the concessionaires had just $5 billion in combined liabilities. But...
MGM Unveils New Rewards Credit Card Offer, Includes Free Parking
MGM Resorts International is introducing a new credit card offer tied to its recently revamped customer loyalty program. From now through April 7, those approved for the MGM Rewards Mastercard will be automatically upgraded to Pearl status in the MGM Rewards program...
Flutter Entertainment Stock Selloff Creates Opportunity, Says Analyst
Like its peers in the gaming equity complex, Flutter Entertainment (OTC:PDYPY) stock has been drubbed in recent months. But at least one analyst says the FanDuel parent remains a compelling avenue for investors looking to tap into the fast-growing US internet casino...
