5320 stories by Todd Shriber
Los Angeles Card Room Closures Putting Communities on Financial Brink
Following another wave of coronavirus cases in Los Angeles, local card rooms shuttered a second time last week, bringing more financial strain to the towns in which those venues operate. On Tuesday, Los Angeles County reported 7,593 new coronavirus cases. This easily...
FanDuel, Private Equity Backers Want Scottish Law Used in Suit, But Judge Unsure
FanDuel and private equity shops KKR and Shamrock Capital are asking New York Supreme Court Justice Andrea Masley to apply Scottish law in a suit brought by founders Nigel and Lesley Eccles and Thomas Griffiths. But the judge is indicating the defendants...
Caesars Says Bye-Bye to Belle of Baton Rouge, Property Reeg Once Wouldn’t Stay At
Caesars Entertainment (NASDAQ:CZR) continues divesting assets, with the company saying today it's selling the Belle of Baton Rouge riverboat casino to CQ Holding Company, also known by the Casino Queen brand. Financial terms of the deal weren't disclosed. Caesars owns the operating...
Caesars, Monarch Price Targets Hiked, Analyst Sees Investors Looking Past Coronavirus Headwinds
Caesars Entertainment (NASDAQ:CZR) and Monarch Casino & Resort (NASDAQ:MCRI) are among the gaming equities favored by Truist Securities analyst Barry Jonas. That's even as regional casinos encounter near-term hurdles because of a recent surge in coronavirus case counts. Over the course of...
Cubs Owner Ricketts, DraftKings Investor Raine Group Starting SPAC Targeting Sports Deals
Chicago Cubs owner Tom Ricketts and venture capital firm Raine Group are creating a special purpose acquisition company (SPAC) that will focus on transactions across the sports universe, including betting opportunities. In an S-1 filing with the Securities and Exchange Commission (SEC),...
Score Media, Penn Among Potential Winners as Canada Moves Toward Single-Game Betting
On Thursday, Canada's Liberal Party introduced legislation that would end the country's ban on single-game sports wagers. That sparked rallies in some equities with exposure to the country's betting market. Currently, Canadian gamblers can wager on parlays authorized by provincial lotteries. But...
Londoner Macau Slated to Open February 2021
Sands China's Londoner Macau is nearing completion and is on pace to open in February, potentially positioning the venue to capitalize on rebounding traffic next year in the world's largest casino center. Wilfred Wong, president of Sands China, commented to local media...
Caesars Downgraded by Morgan Stanley, Bank Cites Near-Term COVID-19 Shutdown Risks
Shares of Caesars Entertainment (NASDAQ:CZR) are lower in midday trading after Morgan Stanley downgraded the largest domestic gaming company by number of venues. In a note to clients Wednesday, analyst Thomas Allen points out that a new batch of coronavirus-related restrictions applied...
Burgundy Balking: Asset Manager Says Apollo Offer Undervalues Great Canadian Gaming
There's takeover drama north of the border. Burgundy Asset Management says it has no plans to vote in favor of Apollo Global Management's (NYSE:APO) $2.5 billion takeover offer for Great Canadian Gaming Corp. (GCGC). Private equity behemoth Apollo revealed its acquisition plans...
DraftKings Earns Surprisingly Tepid Review in New UBS Coverage
DraftKings (NASDAQ:DKNG) is usually on the receiving end of heaping amounts of praise from Wall Street. But not all analysts following the name are overly enthusiastic. For example, UBS analyst Eric Sheridan initiated coverage of the daily fantasy sports (DFS) provider and...
