5402 stories by Todd Shriber
Morgan Stanley Sees Floodgates Opening for Online Gambling, Sports Betting Following Coronavirus
Brick-and-mortar casinos throughout the US are shuttered because of the coronavirus. But in the states that allow it, online gambling is booming, and Morgan Stanley expects more come will aboard in permitting the activity when COVID-19 ebbs. A small number of states,...
MGM China Has Resources to Last 15 Months, Don’t Bet on Parent Selling Stake, Say Analysts
MGM China, the Macau gaming business majority owned by MGM Resorts International (NYSE:MGM), has the financial resources to survive up to 15 months if scant visitation to the Special Administrative Region (SAR) lingers. But don't bet on the parent company selling its...
DraftKings IPO: No Sports, No Problem, as Company Targets April Listing
DraftKings, the daily fantasy sports (DFS) giant and sportsbook operator, isn't letting a nearly non-existent slate of athletic competitions deter its plans of becoming a public company. The Boston-based firm eyes an offering before the end of this month. In December, the...
Galaxy Entertainment, Sands China Best Break Even Bets in Macau, Others Could Bleed Cash, Says Morgan Stanley
First-quarter earnings updates from gaming companies aren't rolling in quite yet. But when those reports arrive, they'll assuredly contain gory details about Macau. Yet Morgan Stanley sees the potential for less bad results from Galaxy Entertainment and Sands China. Because of the...
Former Nevada Gaming Control Chair Bets Regulators Will Approve Eldorado Caesars Takeover
Former Nevada Gaming Control Board Chairwoman Becky Harris believes regulators will sign off on Eldorado Resorts Inc.'s (NASDAQ:ERI) $17.3 billion acquisition of rival Caesars Entertainment Corp. (NASDAQ:CZR). But she didn't offer a guess as to when that might happen. The deal –...
Bicycle, Gardens Casinos, Other California Card Rooms in Bind for PPP Funds
Bell Gardens, Calif. and Hawaiian Gardens, Calif. are homes to the Bicycle Hotel and Casino and Gardens Hotel and Casino – two of the dozens of Golden State card rooms that aren't eligible for assistance under the Small Business Administration’s Paycheck Protection...
Everi Could Join Club of Gaming Companies Asking Lenders for Debt Covenant Relief
Everi Holdings (NYSE:EVRI) is reportedly joining a growing list of gaming companies in asking lenders to amend debt covenant ratio agreements in an effort to gain some financial wiggle room amid a zero- revenue outlook for casino operators. Shares of the gaming...
Everi Holdings Stung by Fitch Downgrade, Outlook Negative with Forecast of Increasing Leverage
Shares of gaming technology provider Everi Holdings (NYSE:EVRI) slumped Monday a few days after Fitch Ratings pared its credit mark on the company further into junk territory. Las Vegas-based Everi rallied more than 53 percent last week. But the stock is following...
GAN Going with NASDAQ Listing Before April End, Looking to Raise $35 million
GAN, the gaming technology company formerly known as Game Account Network, is forging ahead with plans to list its shares on the NASDAQ stock exchange. It hopes to raise $35 million in the process in an offering that could happen before the...
Massachusetts Gaming Commission Gives Gamblers More Time to Collect Winnings, Citing Coronavirus Closures
The Massachusetts Gaming Commission (MGC) is giving gamblers more time to collect winnings, allotting for the temporary closures of the state's three casinos because of the coronavirus outbreak. At its Thursday meeting, the MGC voted unanimously to amend a stipulation requiring casino...
