5136 stories by Todd Shriber
Baron Real Estate Fund Adds Sands, Bullish On Other Casino Stocks
The Baron Real Estate Income Fund, one of the best-performing actively managed real estate funds, added shares of Las Vegas Sands (NYSE:LVS) in the first quarter. It remains constructive on several other casino stocks in its portfolio. In the first three months...
Penn National Analyst Says Share Price Indicates ‘De Minimis Value’ for Digital Gaming
The 61.35% loss incurred by Penn National Gaming (NASDAQ:PENN) stock over the past year places it at a price where the shares reflect “de minimis value” for online gaming operations, according to a sell-side analyst. That’s the sentiment of Jefferies analyst David...
Cosmopolitan Las Vegas Now MGM Venue as Buyer Rapidly Completes Purchase
The Cosmopolitan Las Vegas is officially part of the MGM Resorts International (NYSE:MGM) portfolio of integrated resorts, as the gaming company closed its acquisition of the Strip venue today. MGM announced last September it’s paying $1.6 billion to Blackstone for Cosmopolitan’s operating...
Light & Wonder Rockets Higher on Bullish Investor Day Comments
In its first investor day as Light & Wonder (NASDAQ:LNW), the gaming company offered up a bullish outlook, including a forecast of a total addressable market of $70 billion, sparking a rally in the shares. In late trading, shares of the company...
Melvin Capital Reveals Stake in MGM Resorts
Gabe Plotkin’s Melvin Capital Management -- one of the hedge funds burned by the early 2021 rally in shares of GameStop (NYSE:GME) -- is trying a different type of gaming equity. The firm’s 13F filing with the Securities and Exchange Commission (SEC)...
Land & Buildings Dumps Caesars, VICI Stakes
Jonathan Litt’s Land & Buildings Investment Management, LLC (L&B) eliminated its gaming equity exposure in the first quarter, dumping stakes in Caesars Entertainment (NASDAQ:CZR) and VICI Properties (NYSE:VICI). The investment firm’s first-quarter 13F filing with the Securities and Exchange Commission (SEC) indicates...
Jane Lynch Takes Lead In Harrah’s Southern California ‘Funner’ Ad Campaign
“Funner, California” -- the town that serves as the backdrop in Harrah’s Resort Southern California advertising campaigns -- has a new mayor. The tribal gaming venue announced Monday that actor Jane Lynch is the new mayor Funner. Lynch, also an acclaimed author...
NFL Owner David Tepper’s Hedge Fund Scoops Up Shares of Sands, Wynn Resorts
David Tepper's Appaloosa Management made two additions to its equity portfolio in the first quarter, and both hail from the gaming industry. The hedge fund founded by the owner of the NFL’s Carolina Panthers initiated stakes in Las Vegas Sands (NYSE:LVS) and...
Chris Brown Returning to Drai’s Las Vegas for New Residency
Chris Brown is returning to Las Vegas for a residency at Drai’s on the Strip -- a venue at which he performed during the LIVE concert series in 2015. The Grammy-winning artist’s return to the famed nightclub is described as a “multi-year”...
PlayAGS Stock Valuation Disconnected from Strong Fundamentals, Says Analyst
Gaming supplier PlayAGS (NYSE:AGS) is joining related equities to the downside this year. But at least one analyst says retrenchment in the stock belies sturdy fundamentals. Following a meeting with management, Stifel analyst Jeffrey Stantial reiterates a “buy” rating on PlayAGS with...
