5082 stories by Todd Shriber
International Game Technology Wins Patent for Bitcoin Slot Machine Transactions
Shares of gaming device manufacturer International Game Technology (NYSE:IGT) surged Wednesday. That's after the company won a patent that would allow gamblers to use digital currencies, such as bitcoin, on slot machines. The US Patent and Trademark Office (USPTO) granted IGT a...
Snow Lake Capital Presses MGM to Sell 20 Percent of China Business
Sean Ma’s Snow Lake Capital Ltd. is urging MGM Resorts International (NYSE:MGM) to sell 20 percent of the Macau business. They suggest the stake go to a “leading” Chinese consumer internet or travel and leisure company to unlock shareholder value. The corporation...
Maddox Sells 56,000 Shares of Wynn Stock, Cashing Winning Bet on Company Equity
Wynn Resorts (NASDAQ:WYNN) CEO Matt Maddox recently sold about 56,000 shares of the company's stock. Maddox was taking some profits after a tumultuous year in which the gaming name sagged due to the coronavirus pandemic, then proceeded to more than triple from...
Bally’s Boosts Market Access in Latest Deal, Analyst Sees Online, Sports Betting Benefits
Bally's (NYSE:BALY) said on Monday it will build a satellite casino near Penn State University in Centre County. This is a move one analyst views as smart, given the company's geographic diversification efforts and market access ambitions. Construction on the Category 4...
MGM Explains Entain Acquisition Offer, Analyst Calls it ‘Smart, Strategic’
MGM Resorts International (NYSE:MGM) has confirmed it made an $11.06 billion takeover bid for Entain Plc (OTC:GMVHY), its partner on the BetMGM venture, and that the British company turned back the proposal, saying it undervalues the company. On Sunday, news emerged that...
DraftKings Stock, Already Slumping, Faces Another Lockup Expiry
DraftKings (NASDAQ:DKNG) stock is staring at the possibility of more selling pressure as soon as Tuesday with another lockup period expiring. The stock is in the midst of an almost 14 percent slide over the past week. Last October, the Boston-based daily...
Las Vegas Sands, Wynn Are Macau Names to Remember Following Forgettable 2020
Last year, the six Macau concessionaires won just $7.53 billion combined, as the coronavirus pandemic forced the worst annual gross gaming revenue (GGR) tally in the special administrative region (SAR) since 2006. But analysts are optimistic about rebound prospects in 2021. Coming...
Churchill Downs ‘Irreplaceable Assets’ Driving EBITDA Growth, Says BofA Analyst
Churchill Downs (NASDAQ:CHDN) is setting up to be one of 2021's more compelling names in the gaming space, according to one analyst. In new coverage of the racetrack operator's stock, Bank of America (BofA) analyst Finn Barrett today rates Churchill a “buy”...
MGM Proposes $11.06 Billion Entain Takeover, But Target Says That’s Not Adequate
MGM Resorts International (NYSE:MGM) is offering $11.06 billion for Entain Plc (OTC:GMVHY). But the British bookmaker says that's not enough. Reports surfaced Sunday that the Mirage operator is seeking to acquire its partner in the BetMGM online casinos and sports betting venture....
MGM Resorts Reportedly Makes Offer for Entain, Aims for Full Control of Sports Betting Business
MGM Resorts International (NYSE:MGM) is reportedly looking to acquire Entain Plc (OTC:GMHY), the UK-based company formerly known as GVC Holdings that's the casino operator's partner in the BetMGM online gaming and sports wagering business. The Wall Street Journal reported the rumor earlier...
