5359 stories by Todd Shriber
Snow Lake Founder Ma Says MGM Letter Prompted by Breakdown in Board Discussions
Snow Lake Capital founder Sean Ma said the letter he sent earlier this week to the board of MGM Resorts International (NYSE:MGM) urging the gaming company to sell 20 percent of its equity in MGM China Holdings (OTC:MCHVF) came about after failed...
Playtika Plans $1.6 Billion IPO Valuing Itself at up to $9.4 Billion
Playtika, the Israeli mobile gaming company, updated a Form S-1 filing with the Securities and Exchange Commission (SEC) today. The filing said it plans to sell $1.6 billion worth of equity in a US initial public offering (IPO) valuing the firm at...
Penn National Lands Another $100 Forecast, But Analyst Has Questions About New York
Penn National Gaming (NASDAQ:PENN) continues garnering support among Wall Street analysts. But one who likes the stock has questions about how things are going to play out in New York. On Wednesday, Penn and other sports betting equities surged on news that...
International Game Technology Wins Patent for Bitcoin Slot Machine Transactions
Shares of gaming device manufacturer International Game Technology (NYSE:IGT) surged Wednesday. That's after the company won a patent that would allow gamblers to use digital currencies, such as bitcoin, on slot machines. The US Patent and Trademark Office (USPTO) granted IGT a...
Snow Lake Capital Presses MGM to Sell 20 Percent of China Business
Sean Ma’s Snow Lake Capital Ltd. is urging MGM Resorts International (NYSE:MGM) to sell 20 percent of the Macau business. They suggest the stake go to a “leading” Chinese consumer internet or travel and leisure company to unlock shareholder value. The corporation...
Maddox Sells 56,000 Shares of Wynn Stock, Cashing Winning Bet on Company Equity
Wynn Resorts (NASDAQ:WYNN) CEO Matt Maddox recently sold about 56,000 shares of the company's stock. Maddox was taking some profits after a tumultuous year in which the gaming name sagged due to the coronavirus pandemic, then proceeded to more than triple from...
MGM Explains Entain Acquisition Offer, Analyst Calls it ‘Smart, Strategic’
MGM Resorts International (NYSE:MGM) has confirmed it made an $11.06 billion takeover bid for Entain Plc (OTC:GMVHY), its partner on the BetMGM venture, and that the British company turned back the proposal, saying it undervalues the company. On Sunday, news emerged that...
Las Vegas Sands, Wynn Are Macau Names to Remember Following Forgettable 2020
Last year, the six Macau concessionaires won just $7.53 billion combined, as the coronavirus pandemic forced the worst annual gross gaming revenue (GGR) tally in the special administrative region (SAR) since 2006. But analysts are optimistic about rebound prospects in 2021. Coming...
Churchill Downs ‘Irreplaceable Assets’ Driving EBITDA Growth, Says BofA Analyst
Churchill Downs (NASDAQ:CHDN) is setting up to be one of 2021's more compelling names in the gaming space, according to one analyst. In new coverage of the racetrack operator's stock, Bank of America (BofA) analyst Finn Barrett today rates Churchill a “buy”...
MGM Proposes $11.06 Billion Entain Takeover, But Target Says That’s Not Adequate
MGM Resorts International (NYSE:MGM) is offering $11.06 billion for Entain Plc (OTC:GMVHY). But the British bookmaker says that's not enough. Reports surfaced Sunday that the Mirage operator is seeking to acquire its partner in the BetMGM online casinos and sports betting venture....
