5136 stories by Todd Shriber
Gaming Spend Remains Resilient, Analyst Highlights Boyd, Century, Golden Entertainment
Inflation is soaring and the Federal Reserve is closing in on another interest rate hike. But, for now, at least, those macro headwinds aren’t hindering spending at US casinos. Those issues are prompting investors to speculate that the US economy is moving...
MGM Lauded By Analysts on Strong Q1 Earnings, Could Revisit Entain Deal
MGM Resorts International (NYSE:MGM) is winning some praise from Wall Street following sturdy first-quarter results. At least one analyst believes it’s possible the gaming company eventually revisits a takeover bid for Entain Plc (OTC:GMVHY). Citing strength in Las Vegas, where it’s the...
DraftKings Stock Rises on Bullish Morgan Stanley Comments
DraftKings (NASDAQ:DKNG) stock is getting a much-needed lift after Morgan Stanley issued constructive comments on the battered online sportsbook operator. DraftKings is higher by more than 5% in midday trading, though that’s barely enough to dent an almost 76% decline over the...
Gaming and Leisure CEO Carlino Says Oakland A’s Have ‘Strong’ Interest in Bally’s Site
Major League Baseball’s Oakland Athletics haven’t yet confirmed a move to Las Vegas. But one real estate executive might have insight into the club’s Sin City plans. Gaming and Leisure Properties (NASDAQ:GLPI) CEO Peter Carlino said on the company’s recent first-quarter earnings...
MGM Resorts Offering $607M for LeoVegas
MGM Resorts International (NYSE:MGM) is offering $607 million to acquire LeoVegas AB, a move to increase the casino giant’s already sizable online gaming footprint. The largest operator on the Las Vegas Strip is offering $6.20 a share for the Swedish gaming company....
Meister’s Corvex Doubles Stake in Kindred
Keith Meister’s Corvex Management has doubled its position in Kindred Group, according to a regulatory filing issued by the Swedish online gaming company. The hedge fund initiated a stake of more than 5% in Kindred in February, nearly doubling the size of...
Melco Could Boost Share Price with Studio City Acquisition, Parent Merger
Analysts believe Melco Resorts & Entertainment (NASDAQ:MLCO) could prop up its sagging share price by acquiring Studio City International Holdings (NYSE:MSC) and then merging with parent Melco International Development. That take comes courtesy of Bernstein analysts Vitaly Umansky and Louis Li. In...
VICI Properties Wraps Up $17.2B Purchase of MGM Growth
VICI Properties (NYSE:VICI) has closed its $17.2 billion acquisition of MGM Growth Properties (NYSE:MGP), creating the largest casino landlord on the Las Vegas Strip in the process. The all-stock transaction was announced last August. With closure of the deal there are now...
Light & Wonder Name, Stock Ticker Changes Complete
Light & Wonder’s name change is legally official, and the slot machine manufacturer’s shares now trade under the ticker “LNW” on the Nasdaq. The company previously known as Scientific Games announced the rebranding in early March, and almost immediately began using the...
Caesars Moving to Majority Votes for Board Directors Following Unite Here Push
Caesars Entertainment (NASDAQ:CZR) is implementing a majority vote standard for uncontested director elections. That's following a push by hospitality labor union Unite Here. A member of the Council of Institutional Investors, the union represents hospitality workers in the US and Canada, and...
