4980 stories by Todd Shriber
ARK Invest, Famed Tesla Supporter, Sees Online Sports Betting Handle Swelling to $180 Billion
Cathie Wood's ARK Investment Management is bullish on the growth trajectories of the esports, fantasy sports, and online sports wagering industries. For operators and investors alike, ARK's call is meaningful. This is because the New York-based asset manager and exchange-traded funds (ETFs)...
Entain Shares Plunge as MGM Says it Won’t Make Another Takeover Offer
Entain Plc's (OTC:GMVHY) US-listed shares are tumbling Tuesday. That's after MGM Resorts International (NYSE:MGM) said it won't revise its acquisition proposal for the British bookmaker. Earlier this month, the Mirage operator offered 0.6 shares for each share of its partner on the...
SJM Grand Lisboa Palace Could Be Swift EBITDA Driver
SJM Holdings' Grand Lisboa Palace is forecast to be a quick contributor to the operator's bottom line. Fitch Ratings projects the property will drive earnings before interest, taxes, depreciation and amortization (EBITDA) of $258 million in 2022, with that figure surging to...
JACK Management Team Acquires Two Ohio Casinos From Dan Gilbert
Billionaire businessman Dan Gilbert is out of the Ohio casino businesses. That's after reportedly selling his JACK Entertainment to the company's management team last month. JACK Chairman Matthew Cullen confirmed to the Cleveland Jewish News (CJN) that the gaming company no longer...
Caesars in Jeopardy of Losing License for Unfinished South Korea Integrated Resort
Caesars Entertainment is on the clock to complete its Midan City integrated resort project on Yeonjong Island in South Korea, or risk losing its license. Construction on the $700 million Caesars Korea project has been halted since February 2020 because of the...
Texas’s Tidy Finances Could Weigh on Casino Efforts
In the domestic casino industry, Texas is the golden goose. For operators yearning to develop gaming properties in the Lone Star State, problematic is the state's sturdy fiscal position. Like so many states, Texas is facing some budgetary issues stemming from the...
Century Casinos Lengthens Closure of Poland Properties Through January 31
Less than three weeks after announcing another temporary closure of its Poland gaming venues, Century Casinos said those properties will remain closed through Jan. 31. Late last month, the Colorado-based gaming company said it was shuttering its casinos in Poland to comply...
Affinity Gaming Merging with New SPAC, Seeks More Casino, Leisure Deals
Affinity Gaming, the owner of the Silver Sevens Casino in Las Vegas, is merging with a newly formed special purpose acquisition company (SPAC). It plans to pursue addition consolidation opportunities following that marriage. In a Form S-1 filing with the Securities and...
Minnesota Sports Betting Bills Coming Next Week, Odds of Passage Appear Long
Minnesota lawmakers from both sides of the aisle are readying sports wagering legislation that could be introduced as soon as next week. Despite the bipartisan push, it's going to take some work to pass a comprehensive bill. State Rep. Pat Garofalo (R-Farmington)...
Melco Resorts Debt Could Swell to $7 Billion Warns Moody’s
Melco Resorts & Entertainment (NASDAQ:MLCO) could see its debt burden balloon over the next 12 to 18 months. That's as the pace of recovery in the world's largest casino center remains lethargic. The company is one of the six concessionaires in the...
