4982 stories by Todd Shriber
Wynn Hit with ‘Sell’ Rating by Citi, Bank also Downgrades MGM
It's been a while since Wall Street analysts tagged casino stocks with “sell” ratings. But Wynn Resorts (NASDAQ:WYNN) is enduring that fate today at the hands of Citi. In a note to clients today, Citi analyst George Choi pared his rating on...
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...
MGM Acknowledges Anxious Activist Investor, But Imminent China Stake Reduction Unlikely
MGM Resorts International (NYSE:MGM) has confirmed it received a letter from Snow Lake Capital Ltd. founder Sean Ma. But the gaming company isn't rushing to trim its stake in MGM China Holdings (OTC:MCHVF), per the investor's suggestion. In a letter to the...
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...
Bally’s Boosts Market Access in Latest Deal, Analyst Sees Online, Sports Betting Benefits
Bally's (NYSE:BALY) said on Monday it will build a satellite casino near Penn State University in Centre County. This is a move one analyst views as smart, given the company's geographic diversification efforts and market access ambitions. Construction on the Category 4...
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...
DraftKings Stock, Already Slumping, Faces Another Lockup Expiry
DraftKings (NASDAQ:DKNG) stock is staring at the possibility of more selling pressure as soon as Tuesday with another lockup period expiring. The stock is in the midst of an almost 14 percent slide over the past week. Last October, the Boston-based daily...
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...
