5402 stories by Todd Shriber
Everi Holdings Pulls 2020 Financial Forecast, Cites ‘Limited Visibility’ on Coronavirus Casino Closures
Everi Holdings (NYSE:EVRI) is joining a growing list of gaming companies in withdrawing 2020 financial guidance due to the impact the coronavirus pandemic is having on the industry. The maker of gaming machines, payment solutions, and software also said it has drawn...
San Manuel Extends Casino Closure Through April 11 as California Shelter-in-Place Policy Takes Hold
The San Manuel Band of Mission Indians, the operator of the Southern California gaming property bearing the tribe's name, said it's extending the closure period of that venue through April 11. That's as residents of the Golden State are now subject to...
GLP Yanks 2020 Financial Guidance, Citing Coronavirus, Draws $530 Million on Bank Credit Line
Gaming and Leisure Properties (NASDAQ:GLPI) is withdrawing its 2020 financial guidance, citing the impact the coronavirus pandemic is having on the casino industry. The real estate company said it recently drew $530 million on a bank credit line to increase balance sheet...
Pechanga Preparing for Lengthier Closure, Staff Reductions Could be Coming in April
The Pechanga Band of Luiseño Indians, the operator of the Pechanga Casino in Temecula, Calif., said it's preparing for a temporary closure announced last week to last longer than previously expected. It added that staff reductions could commence as soon as April....
Las Vegas Sands, MGM, Wynn, Others Tagged with Negative Credit Outlooks by Standard & Poor’s
Las Vegas Sands (NYSE:LVS), MGM Resorts International (NYSE:LVS), and Wynn Resorts (NASDAQ:WYNN) are among the operators vulnerable to credit downgrades, as the coronavirus imperils the domestic gaming industry, according to new research from Standard & Poor's (S&P). On Friday, S&P shifted the...
Twin River Bolsters Balance Sheet, Prepares for Potentially Long Winter of Casino Closures
Twin River Worldwide Holdings (NYSE:TRWH) is joining rival casino companies in accessing cash, preparing for what could be longer-than-expected gaming property closures. The operator of Rhode Island's two casinos said in a statement out Friday that it fully funded a $250 million...
Macau Table Game Capacity Up to 80 Percent, But Government Slashes 2020 GGR Forecast in Half
Table games at Macau's casinos are now running at 80 percent capacity following a 15-day closure in February. But the Special Administrative Region's (SAR) road back to normalcy is going to take a while after the government slashed its 2020 gross gaming...
Five San Diego Tribal Casinos Temporarily Closing, Critics Say Native American Suspensions Lag Commercial Rivals
Barona, Campo, Jamul, Sycuan and Viejas – San Diego's five tribal casinos – will begin shutting down Friday morning and will remain closed through the end of March, as some tribes step up efforts to prevent the spread of the coronavirus. Closure...
Native American Gaming Operators Request $18 Billion as COVID-19 Outbreak Forces Closures Across US
Commercial casino companies aren't the only ones seeing their business evaporate at the hands of the coronavirus outbreak. Tribal operators are in the same boat, and are asking the federal government for an $18 billion relief package to help them navigate what...
Macau Says ‘No’ to Visitors From Everywhere but China, Hong Kong, and Taiwan After Coronavirus Case Tally Hits 13
Amid a fresh batch of coronavirus cases this week, Macau is banning travelers from everywhere but China, Hong Kong, and Taiwan from entering the world's largest gaming center in an effort to quash the spread of the respiratory illness. After going nearly...
