5136 stories by Todd Shriber
DraftKings Stock Has Double Potential, Says Jefferies Analyst
After shedding more than half its value just this year, DraftKings (NASDAQ:DKNG) is clearly among this year’s worst-performing gaming equities. But that dramatic decline is also encouraging some bullish commentary on the shares. The stock is higher in early trading Monday, as...
Hard Rock CEO Allen Sees Inflation Crimping Casino Demand
The April reading of the Consumer Price Index (CPI) was 8.3%, representing a meager decline from the 8.5% increase in March, but enough to keep consumer prices at the highest levels since 1982. At least one casino executive says signs are mounting...
Melco, Sands Lead Macau Rally on Reports of Shanghai Lockdown Loosening
The Chinese Communist Party (CCP) may be seeing the error of its ways when it comes to its zero COVID-19 policy, and that’s to the liking of Macau gaming equities. Amid a strong day for risk assets, gaming stocks soared Friday on...
Caesars Low-Quality Stock with Bear Market Rally Potential
Shares of Caesars Entertainment (NASDAQ:CZR) are off 46.72% year-to-date, and the company is one of the most debt-riddled in the gaming industry. So it fits the bill as a low-quality stock in the eyes of some market observers. That dubious status could...
Dubai Official: Don’t Bet on Casinos in Emirate
Wynn Resorts is moving forward with plans for an integrated resort on Al-Marjan Island, United Arab Emirates (UAE). But Dubai is unlikely to follow suit. Owing to bountiful oil reserves, UAE is the third-richest country in the world on a per capita...
BetMGM Forecasts 2022 Revenue of $1.3B, Sees US Market Share up to 25%
BetMGM held its Investor Day today, telling analysts it generated about $850 million in revenue last year while forecasting significant top line growth to $1.3 billion in 2022. The 50/50 joint venture between MGM Resorts International (NYSE:MGM) and Entain Plc (OTC:GMVHY) says...
MGM Credit Outlook Negative Amid Macau Uncertainty, Fitch Pulls Rating
MGM Resorts International (NYSE:MGM) still faces regulatory uncertainty in Macau, and that’s prompting Fitch Ratings to maintain a “negative” rating watch on the casino operator. The research firm also pulled its credit rating on the gaming company. MGM owns about 56% of...
Blackstone Lavishes $5K Bonuses Upon Cosmopolitan Staffers
Talk about a parting gift. Blackstone (NYSE:BX) will soon cede operational control of the Cosmopolitan Las Vegas to MGM Resorts International (NYSE:MGM). But the private equity company is doling out $5,000 bonuses to the integrated resorts 5,400 employees. At an event for...
Playtika Mum on Potential Sale, Analysts Pare Price Targets
Shares of Playtika (NASDAQ:PLTK) are surging today despite the company reporting downbeat first-quarter results and not providing an update on a potential sale. In midday trading, the mobile gaming company is higher by 6.15%, stemming a 31% slide over the past week....
Floyd Mayweather Prints Mint on Canelo Upset
Floyd “Money” Mayweather knows a little something about boxing. He’s also a devoted sports bettor. That combination proved beneficial last Saturday. The Las Vegas resident, who finished his career with an immaculate 50-0 record, wagered $10,000 on WBA light heavyweight champion Dmitry...
