5210 stories by Todd Shriber
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...
Venetian Operator Apollo Reportedly Involved in Financing Musk Twitter Takeover
Private equity firm Apollo Global Management (NYSE:APO), which operates the Venetian integrated resort on the Las Vegas Strip, is rumored to be in talks to contribute financing for Elon Musk’s $44 billion takeover of Twitter (NYSE:TWTR). Musk’s bid for the social media...
Wynn Expresses Interest in New York Casino License as Macau Recovery Lags
Wynn Resorts (NASDAQ:WYNN) is, in fact, interested in opening an integrated resort in New York City, confirming as much on its first-quarter earnings conference call late Tuesday. In response to a question from UBS analyst Robin Farley on the call, new Wynn...
Everi Soars on $150M Buyback Plan
On a mixed day for gaming equities, Everi Holdings (NYSE:EVRI)is one of the standouts. That's after the slot machine manufacturer and provider of cashless gaming systems reported decent first-quarter results while unveiling a share repurchase program. In late trading, Everi is higher...
