5082 stories by Todd Shriber
Penn National Gaming Tops $100, Market Cap Bigger Than MGM
Boosted by speculation on the fate of online sports betting in New York and a strong weekend handle on NFL games, Penn National Gaming (NASDAQ: PENN) surged seven percent Monday on volume that was more than 50 percent above the daily average....
Flutter, not DraftKings, Is Preferred Sports Wagering Equity Bet, Says Fund Manager
In the US online sports betting arena, Flutter Entertainment Plc's (OTC:PDYPY) FanDuel unit and DraftKings (NASDAQ:DKNG) control approximately 63 percent of the market. But one fund manager prefers FanDuel over DraftKings. Because of the daily fantasy sports (DFS) boom several years ago,...
Macau Casino Equities Ready for Second Half Rebound, Says Morgan Stanley
Shares of Macau gaming operators could endure lethargic starts to 2021 before a catalyst-rich rebound materializes in the second half of the year, according to Morgan Stanley. New capacity, increased domestic travel, and momentum for license renewal are among the factors that...
Las Vegas Sands Eyes Sports Wagering Entry
Las Vegas Sands (NYSE:LVS) is reportedly mulling getting into the booming sports wagering business. That potentially marks a move into online gaming, an area Chairman Sheldon Adelson has long voiced opposition against. Earlier Friday, Bloomberg reported Sands acting CEO Rob Goldstein is...
IAC Supportive of MGM Entain Bid, Could Double Investment in Gaming Company
Barry Diller's IAC/InterActiveCorp (NASDAQ:IAC) is voicing support for MGM Resorts International's (NYSE:MGM) takeover bid for Entain Plc (OTC:GMVHY). It's possible the internet company could pony up some capital for an increased offer. Earlier this week, the Las Vegas-based casino operator bid $11.06...
Snow Lake Founder Ma Says MGM Letter Prompted by Breakdown in Board Discussions
Snow Lake Capital founder Sean Ma said the letter he sent earlier this week to the board of MGM Resorts International (NYSE:MGM) urging the gaming company to sell 20 percent of its equity in MGM China Holdings (OTC:MCHVF) came about after failed...
Playtika Plans $1.6 Billion IPO Valuing Itself at up to $9.4 Billion
Playtika, the Israeli mobile gaming company, updated a Form S-1 filing with the Securities and Exchange Commission (SEC) today. The filing said it plans to sell $1.6 billion worth of equity in a US initial public offering (IPO) valuing the firm at...
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...
