5449 stories by Todd Shriber
Red Rock Resorts Execs Frank, Lorenzo Fertitta Drop 2020 Salaries for Duration of COVID-19 Pandemic
As long as the coronavirus continues rattling the gaming industry, Red Rock Resorts (NASDAQ:RRR) leaders Frank and Lorenzo Fertitta will not take salaries. The parent company of Station Casinos made the announcement on Monday, saying Chairman/CEO Frank Fertitta and his brother, Vice...
Caesars, MGM Could Put the Hurt on Short Sellers if Bulls Seize Control of Market
Broadly speaking, shorting stocks is a winning strategy to this point in 2020, and nowhere is that more true than the travel and leisure industry, a group beset by savage declines at the hands of the coronavirus pandemic. With COVID-19 punishing the...
Macau Operators Need Daily Revenue of $38 Million to Break Even This Year, According to Analysts
Macau's six concessionaires can likely break even on an earnings before interest, taxes, depreciation and amortization (EBITDA) basis this year with $38.18 million in daily revenue. But getting to cash flow breakeven will be trickier, said JPMorgan analysts. The bank's research team...
San Manuel Pushes Temporary Closure Through April 30, Promises no Layoffs
For a second time, the San Manuel Band of Mission Indians is extending the closure of its eponymous Southern California gaming property, citing the need to protect the surrounding community and employees amid the coronavirus contagion. In mid-March, San Manuel joined rival...
Nevada Approves eNASCAR Betting as Penn, Barstool Bring iRacing Series to Finish Line App
Like every other sport in the US, NASCAR is frozen because of the coronavirus outbreak. But its fans are enjoying an outlet in the form of esports, and now bettors can get in on the action after the Nevada Gaming Control Board...
William Hill Credit Rating Lowered, Coronavirus Culprit Hits Gaming Industry Again
William Hill saw its credit rating lowered further into non-investment grade territory. Moody's Investors Service downgraded the British bookmaker to Ba3 from Ba1, while placing the company on review for additional reductions. UK-based sportsbook operators Flutter Entertainment, GVC Plc, and William Hill...
Wynn Resorts Paying US Workers To May 15, Earns Internet Kudos
At a time when some commercial and tribal casino operators are laying off staff because of temporary closures forced by the coronavirus outbreak, Wynn Resorts is extending pay to all of its US employees through May 15. The move, announced Tuesday evening,...
Las Vegas Sands, Wynn Resorts Dividends Stare Down Coronavirus Vulnerability
Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN) are among 60 S&P 500 members that could need to cut or suspend dividends to conserve capital as the coronavirus pandemic weighs on the economy, according to one equity strategist. In a note out...
Sandoval Follows Murren Out at MGM, Former Governor Pursuing University of Nevada, Reno Presidency
Former Nevada Gov. Brian Sandoval is vacating his role as president of global gaming development at MGM Resorts International to pursue the top spot at the University of Nevada, Reno (UNR). News of Sandoval's departure comes less than two weeks after former...
Eldorado Hedge Fund Supporters Stuck Around in Q4, Some Got Burned in Q1
Eldorado Resorts, Inc. (NASDAQ:ERI) stock remained a hedge fund favorite in the fourth quarter, possibly scorching some of those professional investors as the shares plunged 75.60 percent in the first three months of 2020. At the end of 2019, 49 hedge funds...
