5361 stories by Todd Shriber
DraftKings, Penn National Chasten Bearish Traders
Broadly speaking, gaming equities are profitable for short sellers this year, owing in large part to first-quarter slumps prompted by the coronavirus pandemic. But DraftKings (NASDAQ:DKNG) and Penn National Gaming (NASDAQ:PENN) are among the names making life uncomfortable for bearish traders. Short...
Macau Recovery Depends on Mass Market, VIPs ‘Under Pressure,’ Says Credit Suisse
Rebound hopes for Macau's still ailing gaming industry lie squarely with mass market players, as tighter regulatory controls potentially crimp VIPs, according to Credit Suisse. Beijing is cracking down on junkets and money transfer channels often used by high-end gamblers looking to...
Barstool Sportsbook Trounces App Download Marks Held by DraftKings, FanDuel
Despite just a single state launch, Penn National Gaming's (NASDAQ:PENN) Barstool Sportsbook app throttled records previously held by rivals DraftKings and FanDuel. The much-ballyhooed sports betting platform, a collaboration between Penn National and Barstool Sports, had a three-day soft launch in Pennsylvania last...
Las Vegas Sands, MGM, Other Gaming Stocks Pounded Amid Renewed COVID-19 Fears
Gaming equities are following broader markets lower Monday, as investors fret about the potential of another wave of coronavirus cases in the US. Specific to travel and leisure stocks, Wall Street is growing pensive regarding the return to normalcy time line. It's...
HG Vora Buys $149 Million William Hill Stake, Stokes Sale Chatter
HG Vora Capital Management, an activist hedge fund with long-running experience in gaming equities, has reportedly bought 5.1 percent of William Hill's shares outstanding (OTC:WIMHY). The deal, valued at nearly $149 million, fuels speculation the firm could push for a sale of...
Barrett Leads SCOTUS Nominee Race, Lagoa Contending, Say Betting Markets
Amy Coney Barrett is the front-runner to replace the late Ruth Bader Ginsburg on the Supreme Court of the United States (SCOTUS). But the Seventh Circuit Court of Appeals judge could be credibly challenged by Barbara Lagoa, among others, according to betting...
Macau, US Regionals Leaving Vegas Behind in Gaming Recovery
Gaming companies' coronavirus recovery efforts hinge largely on geographic exposure. Those relying on the Las Vegas Strip are likely to lag rivals with significant Asia-Pacific or domestic regional footprints, according to Fitch Ratings. With a COVID-19 vaccine likely still months away, Sin...
Penn Portnoy Euphoria Continues as Analysts Sees $85 Stock, Highest Wall Street Call
Penn National Gaming (NASDAQ:PENN) is extending its scintillating run Thursday, trading higher by almost seven percent. That's after Stifel analyst Steven Wieczynski placed an $85 price target, up from $47, on the name, the highest such call on Wall Street. With the...
MGM Dented by Another Downgrade, Analyst Sees Vegas Volatility
It's been a week of downgrades for MGM Resorts International (NYSE:MGM). The stock suffered its second lower revision in three days Wednesday, with the Las Vegas Strip looking like the primary culprit. In a note to clients today, Roth Capital analyst David...
Wynn Resorts Stuck in Neutral Amid Macau VIP Risk, Says Analyst
Shares of Wynn Resorts (NASDAQ:WYNN) are lower by more than two percent Wednesday after Roth Capital analyst David Bain downgraded the gaming operator, citing, among other factors, risk in the marquee Macau market. In a note to clients today, Bain lowered his...
