5316 stories by Todd Shriber
Lottery.com Closes SPAC Deal, Debuts on Nasdaq Monday
AutoLotto, which does business as Lottery.com, has closed its merger with special purpose acquisition company (SPAC) Trident Acquisitions Corp. (NASDAQ:TDAC). The deal concluded on Friday, Oct. 29 and it will debut as a freestanding public company on Monday, Nov. 1. The online...
VICI Investors Approve Share Issuance for MGM Growth Properties Acquisition
VICI Properties (NYSE:VICI) shareholders have approved the issuance of a massive amount of new equity. The goal is to fund the company's $17.2 billion all-stock acquisition of rival MGM Growth Properties (NYSE:MGP). The Caesars Palace owner said in August it's acquiring MGM...
Bally’s Bidding for Chicago Casino License, Pledges $1.6B Investment
Bally's Corp. (NYSE:BALY) is eyeing Chicago as the site of its flagship gaming property. It submitted a proposal to city officials pledging a $1.6 billion investment for an integrated resort in the third-largest US city. The Rhode Island-based gaming company announced the...
New York Mets Owner Steve Cohen Talking Big Apple Casino with Las Vegas Sands – Report
New York Mets owner and hedge fund legend Steve Cohen is reportedly in discussions with Las Vegas Sands (NYSE:LVS) about bringing a casino to the Citi Field area. The $900 million (over $1 billion in today's dollars) Citi Field, the Mets' home...
DraftKings’ Scrapped Entain Bid Raises Concerns and Questions, Says Analyst
In one of this week's biggest gaming industry stories, DraftKings (NASDAQ:DKNG) said Tuesday it won't move forward with an effort to acquire Entain Plc (OTC:GMVHY). Investor reaction to the news was initially positive, owing to the fact that the Boston-based company floated...
Brookfield Business Partners LP Bags SG Lottery for $6.05B
Ending weeks of speculation about the unit's fate, Scientific Games (NASDAQ:SGMS) said late Wednesday it is selling its SG Lottery business to Brookfield Business Partners LP (NYSE:BBU) for $6.05 billion. The Canadian private equity shop is shelling out $5.825 billion in cash...
Macau Concessionaires Could Land Modest License Extensions of Up to 12 Months
Permits in Macau -- the world's largest casino center -- expire in June 2022. With little progress being made on re-tendering, local authorities might simply extend the licenses for six to 12 months to buy some added time. Analysts at JPMorgan believe...
PlayAGS Stock Has Double Potential as Cash Flow, Installs Rise, Says Analyst
PlayAGS (NYSE:AGS) is soaring, ranking as one of Wednesday's best-performing gaming equities. That's after a sell-side analyst said the stock can more than double as the gaming supplier's free cash flow (FCF) and installation base increase. In a note to clients today,...
Boyd Gaming Buying Back $300M in Shares, Analyst Says Stock Still Undervalued
Boyd Gaming's (NYSE:BYD) third-quarter earnings report was solid, and the company is rewarding investors with a $300 million share repurchase program. After the close of US markets Tuesday, the regional casino operator said it earned $1.30 a share on revenue of $843.06...
Brookfield Nearing Deal for Scientific Games’ SG Lottery Unit
Private equity firm Brookfield is reportedly drawing closer to a deal for Scientific Games' (NASDAQ:SGMS) SG Lottery division. With over $625 billion in assets under management, Toronto-based Brookfield is one of the world's largest alternative asset managers. It recently emerged as a...
