3975 stories by Todd Shriber
ESPN Bet an Albatross on Penn Entertainment Stock, Says Analyst
The ESPN Bet mobile sports wagering application, which went live last November, is likely to post a larger-than-expected first-quarter loss, thus acting as an overhang on shares of parent Penn Entertainment (NASDAQ: PENN). That’s the take of Deutsche Bank analyst Carlo Santarelli...
Flutter Selling $1.05B in Debt with BBB- Rating
Flutter Entertainment (NYSE: FLUT), the parent company of FanDuel, said Tueaday it's selling $1.05 in senior secured notes maturing in 2029. The proceeds of the debt sale, which includes dollar- and euro-denominated bonds, will be used to repay borrowings under a credit...
DraftKings Lands Buy Rating in New Coverage by Goldman Sachs
Shares of DraftKings (NASDAQ: DKNG) gained 2.74% on a mixed day for gaming stocks after Goldman Sachs issued a bullish call on the online sportsbook operator. In a note to clients on Tuesday, analyst Ben Miller tagged DraftKings with a “buy” rating...
MGM Resorts Stock Could Be Near-Term Rebound Candidate
MGM Resorts International (NYSE: MGM) stock is struggling. Shares of the casino operator are lower by 4.1% year-to-date, badly lagging the S&P 500, and things have been worse in recent days as highlighted by a 7.45% decline over the past week. Still,...
Macau Stocks Less Risky Than Investors Think, Says Seaport Research
In new coverage of Macau casino stocks released Monday, Seaport Research analyst Vitaly Umansky noted the asset class remains a long-term secular growth story, and is less risky and not as volatile as many investors believe it to be. Umansky, a veteran...
MGM Sues FTC Over Scattered Spider Hack Probe, Demands Khan Recuse Herself
MGM Resorts International (NYSE: MGM) sued the Federal Trade Commission (FTC) on Monday regarding the agency’s probe into a 2023 cybersecurity breach that plagued the casino giant. The gaming company is also demanding that FTC Chairwoman Lina Khan recuse herself from the...
Regional Casino Operators Face Challenging Growth Climate, Says Analyst
Regional casino are contending with what Deutsche Bank analyst Carlo Santarelli describes as a “slow bleed” when it comes to gross gaming revenue (GGR), indicating that the bulk of top-line growth for the group is being sourced via new venues, not same-store...
Sinclair Broadcast Group Selling 7.91 Million Bally’s Shares
Sinclair Broadcast Group (NASDAQ: SBGI), the operator of regional sports networks (RSNs) that bear the Bally’s (NYSE: BALY), is selling 7.91 million shares of the casino stock. In a Form S-3 filing with the Securities and Exchange Commission (SEC) released Friday, Bally’s...
Manhattan Community Board Questions Related Cos. Wynn Casino Plan
Manhattan Community Board 4 (MCB4) has questions about Related Cos.’ plans to develop the next phase of Hudson Yards on the west side of Manhattan, including a proposed casino hotel that would be operated by Wynn Resorts. In a recent letter, the...
Lottery.com Says it’s Regained Nasdaq Listing Compliance
Lottery.com (NASDAQ: LTRY), the formerly controversial online lottery provider, said Thursday it regained listing compliance with Nasdaq. That was accomplished after the gaming company maintained a minimum market value of publicly held shares (“MVPHS”) of at least $5 million over the past...
