5136 stories by Todd Shriber
DraftKings Slump Continues as Two Analysts Pare Price Targets
DraftKings (NASDAQ:DKNG) stock is probing new lows Friday. That's extending a slide that's seen the sportsbook operator shed nearly a quarter of its value just this month after two sell-side analysts trimmed price targets on the shares. In midday trading, DraftKings is...
International Game Technology Elevates Sadusky to CEO
International Game Technology (NYSE:IGT) is reshuffling the top executive spot at the company, saying today Vincent Sadusky will become chief executive officer on Jan. 24. Sadusky replaces Marco Sala, who is becoming chairman of the board, and likely CEO as well, at...
Macau Gaming Law Alterations Credit Positive for Concessionaires, Says Moody’s
Macau's recently revealed proposals to alter the special administrative region's (SAR) gaming laws are “credit positive” for the six concessionaires operating there, according to Moody's Investors Service. Last week, authorities in the world's largest casino center unveiled proposals to gaming law, including...
Penn National Casino Business Is Undervalued, Says Analyst
Off the coronavirus market bottom in March 2020, and deep into the first quarter of 2021, Penn National Gaming (NASDAQ:PENN) was one of the best-performing domestic equities of any stripe. Enthusiasm for online casinos and sports wagering was a big reason why...
Full House Forecasts Q4 Revenue Increase, Ups Colorado Construction Spend to $250M
Full House Resorts (NASDAQ:FLL) announced preliminary fourth-quarter results today. The company indicatedrevenue for the final three months of 2021 should easily top what was reported in the year-earlier period. The company also said it's significantly increasing the construction budget for its Chamonix...
BetMGM Forecasts 2022 Net Revenue North of $1.3B, Expects Profitability in 2023
BetMGM is revealing bullish financial guidance, including a forecast calling for a more than 50 percent revenue increase this year. The expectation is that the online gaming company will be profitable on the basis of earnings before interest, taxes, depreciation and amortization...
Microsoft Goes All-In On Video Games, Buying Activision for $68.7 Billion
Microsoft (NASDAQ:MSFT) is bolstering its status as one of the dominant names in the video game universe, announcing today it's acquiring Activision Blizzard (NASDAQ:ATVI) for $68.7 billion in cash. The deal values the Call of Duty publisher at $95 a share, or...
Sportradar Stock Pounded by Morgan Stanley Downgrade
Sportradar (NASDAQ:SRAD) is faltering mightily today after Morgan Stanley downgraded the sports betting data provider, citing ongoing weakness for many domestic gaming equities. In a note to clients, Morgan Stanley analyst Thomas Allen downgrades Sportradar to “equal weight” from “overweight,” with a...
PlayAGS Rallies on Q4 Earnings Preview, Debt Refinancing Plan
On a rough day for the broader market and amid mixed performance by casino stocks, PlayAGS (NYSE:AGS) is standing out. That's after the gaming supplier revealed a bullish preview of its fourth-quarter results and a debt refinancing effort. In early trading, shares...
NeoGames Offering $480 Million in Cash, Stock to Acquire Aspire Global
NeoGames (NASDAQ:NGMS), a provider of internet lottery services and technology, announced it's offering $480 million in cash and equity to acquire Aspire Global. The suitor is offering to purchase Aspire for 111 Swedish krona -- $12.29 in cash, based on current exchange...
