5316 stories by Todd Shriber
Crown Resorts Aussie Pain is Star Entertainment Gain, Says JPMorgan
Lingering regulatory controversy impeding Crown Resorts from opening an integrated resort in Sydney is a boon for rival Star Entertainment Group, according to JPMorgan analysts. The bank upgraded shares of the Star Gold Coast operator to “overweight,” citing several tailwinds while pointing...
Hawaii Agency Cautions Casino Could Be Sex Trafficking Hub
A controversial effort to bring a casino to Kapolei on the island of Oahu is being condemned by a Hawaii commission that believes the venue will facilitate increased levels of sex trafficking. Khara Jabola-Carolus, executive director of the Hawaii State Commission on...
Gaming/Leisure ‘Most Troubled’ Group for 2021 Debt Defaults, Says Moody’s
Global debt defaults are expected to decline this year. But Moody's Investors Service sees the potential for trouble in the hotel, gaming and leisure group. The research firm is forecasting a 2.2 percent global default rate for its entire universe of rated...
ARK Investment Management Adds DraftKings to Internet ETF Roster
ARK Investment Management is showing it's a believer in the online sports betting investment thesis, adding DraftKings stock (NASDAQ:DKNG) to one of its exchange traded funds (ETFs). On Monday, the asset manager purchased 620,300 shares of the daily fantasy sports (DFS) company,...
Princess Cruises Offering High Seas Sports Wagering When Ships Sail Again
It's not hard to find casinos aboard cruise ships. But Princess Cruises is sailing into new territory with sportsbooks on some of its vessels. The operator said Monday the Ocean Sportsbook will be available on its MedallionClass ships when those ships hit...
Jim Murren Blank-Check Firm Acies Merging with MGM-Backed Playstudios in $1.1 Billion Deal
Acies Acquisition Corp. (NASDAQ:ACAC), a special purpose acquisition company (SPAC) started by former MGM Resorts International (NYSE:MGM) CEO Jim Murren, is merging with social casino developer Playstudios, Inc. The transaction values the mobile gaming outfit, which is supported in part by Murren's...
Marina Bay Sands, Resorts World Sentosa Propped up by Locals
Singapore's two integrated resorts, Marina Bay Sands (MBS) and Resorts World Sentosa, continued benefiting from brisk traffic among locals in the fourth quarter. That trend, which emerged in earnest during the July through September period, is pivotal to the profitability of those...
Tilman Fertitta’s Golden Nugget Strikes $6.6 Billion Merger with SPAC FAST Acquisition
Fertitta Entertainment confirms today that it's merging with blank-check firm FAST Acquisition (NYSE:FST) in a deal valuing the leisure and hospitality company at $6.6 billion. Fertitta Entertainment is the entity controlling the Golden Nugget land-based casinos and Landry's restaurants. That $6.6 billion...
Boyd, Red Rock, Other Regional Casino Names Warrant Caution, Says Analyst
Gaming companies with limited or no Las Vegas Strip exposure are proving sturdy relative to their Sin City-centric counterparts. But one analyst says it might be time to take some chips off the table. JPMorgan analyst Joseph Greff, advises clients to embrace...
DraftKings Joins Ranks of Rookie Super Bowl Advertisers, Budweiser, Coke Sitting Out
Daily fantasy sports (DFS) giant and internet sportsbook operator DraftKings is among a bumper crop of first-time Super Bowl advertisers, while some other familiar brands are sitting out the big game. Teams across the league have marketing deals with sports wagering companies,...
