3990 stories by Todd Shriber
Caesars, MGM Preferred Picks as Las Vegas GGR Soars, Says Analyst
With the good times rolling on the Las Vegas Strip, Caesars Entertainment (NASDAQ: CZR) and MGM Resorts International (NYSE: MGM) could be winning equity ideas for investors in 2024. That’s the take of Macquarie analyst Chad Beynon. In a new report to...
Sportsbook Operators Boosted Ad Spending During Football Season
Not surprisingly, U.S. sportsbook operators increased advertising expenditures during the ongoing 2023 football season. From Sept. 1 through Dec. 26, sports betting advertising spending on television jumped 10% to $237.8 million, according to estimates from EDO Ad EnGage. The research firm did...
NBA Approves Dallas Mavericks Sale, Team to Remain in Texas, Says Cuban
On Wednesday, the NBA Board of Governors confirmed the sale of a controlling interest in the Dallas Mavericks to the families of Dr. Miriam Adelson and Sivan and Patrick Dumont. Adelson is the widow of Las Vegas Sands (NYSE: LVS) founder Sheldon...
HG Vora Demands Penn Entertainment Board Seats as Shares Disappoint
HG Vora, a hedge fund with a track record of investing in casino equities, has built an 18.5% stake in Penn Entertainment (NASDAQ: PENN) and is requesting that the gaming company grant it board seats. In a new 13D filing with the...
New York Casinos Could Rival Las Vegas Strip, Says Light & Wonder Exec
The gaming revenue generated by just three New York City-area casinos could rival or surpass levels seen on the Las Vegas Strip. That’s the take of Howard Glaser, global head of government affairs at Light & Wonder. Glaser’s view on the matter...
Full House Opens Chamonix, Newest Colorado Casino Hotel
Full House Resorts (NASDAQ: FLL) opened its highly anticipated Chamonix Casino Hotel in Cripple Creek, Colo. on Wednesday. Along with American Place in Waukegan, Ill., Chamonix, named for the French Alps community near the Italy and Switzerland borders, is expected to be...
Golden Entertainment Could Use Route Sale Cash to Boost Pahrump Casinos
In March of this year, Golden Entertainment (NASDAQ: GDEN) announced the sale of its distributed gaming operations in Montana and Nevada to privately held J&J Ventures Gaming. That transaction, which was recently approved by Nevada gaming regulators, garnered a price tag of...
Tilman Fertitta Bullish on DraftKings, Wynn Heading Into 2024
Tilman Fertitta controls the growing Golden Nugget casino empire. But he’s constructive on a pair of other gaming equities as 2024 looms. In an interview with CNBC’s Brian Sullivan, Fertitta waxed bullish on DraftKings (NASDAQ: DKNG) and Wynn Resorts (NASDAQ: WYNN) --...
Sports Betting Can Weather Pullback in Consumer Spending
Wagering-related expenditures, whether allocated to slot machines, table games, or sports wagering, epitomize consumer discretionary spending. That implies that if consumer spending retreats in a material fashion, there’s potential vulnerability for gaming companies. Prior recessions confirm as much, though broadly speaking, the...
Las Vegas Sands, MGM Could Be 2024 Consumer Cyclical Stars
As highlighted by the 40% returned this year by the S&P 500 Consumer Discretionary Index, consumer cyclical equities, including select gaming stocks, performed well in 2023. Some analysts believe sequels are possible next year. That could benefit some casino stocks, including Las...
