5034 stories by Todd Shriber
Playstudios One of Worst-Performing De-SPACed Companies Over Past Year
Social casino developer Playstudios (NASDAQ:MYPS) became a publicly traded entity following a merger with a special purpose acquisition company (SPAC). It's one of the worst-performing members of an expansive group that opted to go public that way. Playstudios became a freestanding public...
Macau Casino Equities Slide to Five-Year Lows as August Visitation Tumbles
A basket of Macau casino stocks slumped to the lowest levels in five years today. That's after a research firm said August gross gaming revenue (GGR) and visitation are trending well below July levels amid coronavirus-related travel controls. In a note to...
Caesars, Penn National Among Best-Performing Stocks Since COVID-19 Market Bottom
From its coronavirus-induced trough on March 23, 2020 through Aug. 17, 2021, the S&P 500 doubled, marking one of the swiftest bear-to-bull market shifts on record. A pair of well-known gaming equities are among the best-performing names since that market bottom. Since...
Corvex Management Boosts MGM Stake to 15.67 Million Shares
Keith Meister's Corvex Management upped its position in MGM Resorts International (NYSE:MGM) during the second quarter. The hedge fund controlled by the MGM board member now owns 15.67 million shares of the largest operator on the Las Vegas Strip, a stake valued...
Sportradar Opts for Traditional IPO After SPAC Deal Fizzles
Sports betting data provider Sportradar AG filed plans today with the Securities and Exchange Commission (SEC) for an initial public offering (IPO). The Form F-1 filing was revealed just over two months after the Swiss firm and special purpose acquisition company (SPAC)...
Paulson Adds Bally’s to Hedge Fund Portfolio
John Paulson's eponymous hedge fund initiated a new position in casino operator Bally's (NYSE:BALY) in the second quarter. A Form 13F filing with the Securities and Exchange Commission (SEC), released Monday, revealed Paulson & Co. bought one million shares of the Rhode...
GAN Defended by Analysts Following Post-Earnings Plunge
GAN Ltd. (NASDAQ:GAN) stock is being taken to the woodshed today. That's after the gaming technology provider's second-quarter earnings per share missed Wall Street estimates. After the close of US markets Monday, GAN said it lost seven cents a share in the...
Sightline Payments Hits $1B Valuation, Becomes Nevada’s First Fintech Unicorn
Sightline Payments, a provider of cashless gaming solutions, has eclipsed a private market valuation of more than $1 billion, making the company Nevada's first fintech “unicorn.” “Unicorn” is financial parlance for closely held companies with valuations of at least $1 billion. Just...
Einhorn’s Greenlight Capital Exits Betway SPAC
Greenlight Capital, the hedge fund run by financier and poker player David Einhorn, sold its stake in special purpose acquisition company (SPAC) Sports Entertainment Acquisition Corp. (NYSE:SEAH) in the second quarter. Sports Entertainment is serving as the vehicle through which Super Group,...
Boyd, Caesars, Red Rock Top JPMorgan Casino Stock List
JPMorgan released a broad look at the gaming industry today, highlighting Boyd Gaming (NYSE:BYD), Caesars Entertainment (NASDAQ:CZR) and Red Rock Resorts (NASDAQ:RRR) as its top three ideas among the casino stocks it rates “overweight.” Each of those names is tethered to the...
