4981 stories by Todd Shriber
Wynn Resorts Equity Has $150 Potential, Says Money Manager
Wynn Resorts (NASDAQ:WYNN) stock more than doubled off its March lows. But it's still in a funk this year, shedding nearly 48 percent as the coronavirus pandemic punishes gaming equities. However, one fund manager sees big things ahead for the Encore operator....
DraftKings Analysts Can’t Help Themselves as Price Targets Move into $70s
Wall Street analysts covering DraftKings (NASDAQ:DKNG) are quite enthusiastic about shares of the sportsbook operator. That ebullience is on display again as a pair reveal nice price forecasts on the name that averages out to $73. Credit Suisse analyst Benjamin Chaiken initiated...
Century Casinos Inks Colorado Sports Betting Agreement With Tipico
Century Casinos continues solidifying its Colorado sports wagering footprint. On Monday, the company said it inked an internet accord with Tipico. Century owns two namesake gaming venues in the Centennial State. The deal with Tipico is the casino operator's third Colorado online...
Caesars Secures $2.03 Billion from Deutsche Bank, JPMorgan for William Hill Deal
Caesars Entertainment (NASDAQ:CZR) has procured $2.03 billion in bridge financing from a pair of lenders, allowing the gaming giant to forge ahead with plans to acquire British bookmaker William Hill (OTC:WIMHY) for $3.69 billion. Deutsche Bank and JPMorgan are providing a 540-day...
Caesars Asks Kansas City for Harrah’s Rent Break, Gets Chilly Reception from City Council
Caesars Entertainment is asking the city council of North Kansas City, Mo. for a break on rent for the Harrah's Hotel & Casino there. But local policymakers aren't enthusiastic about the idea. Julie Sola, general manager of the gaming venue, approached the...
MGM Growth, VICI Properties Have Fundamentals to Endure Pandemic Pressure
Domestic gaming real estate investment trusts (REITs) have the liquidity and balance sheets to weather storms foisted upon tenants by the coronavirus pandemic, according to analysis of the group by Moody's Investors Service. The three publicly traded casino landlords are Gaming &...
Macau GGR Won’t Reclaim Pre-Pandemic Highs Until 2022, Say Analysts
Gross gaming revenue (GGR) in Macau showed signs of improvement in September, but JP Morgan says it will be 2022 before those figures return to pre-coronavirus highs. That outlook deals a blow to the thesis that the world's largest casino center could,...
Macau Junket Cycle not Dealing with Structural Issues, Says Goldman Sachs
The current weakness in Macau's junket industry is a more symptom of supply issues, not structural damage. Today's cycle, though weak, isn't as bad as the slump of 2014-15, according to Goldman Sachs analysts. Gambling is illegal everywhere else in China. Junkets...
DraftKings Sparks Canaccord Support, Analysts Encouraged by Q3 Update, See Faster Probability
DraftKings (NASDAQ:DKNG) stock is faltering again today, extending a weekly decline to more than nine percent. But it continues earning kudos on Wall Street, as Canaccord Genuity praised the company's recent third-quarter update. Analysts Michael Graham and Maria Ripps said in a...
MGM Selling $500 Million in Debt, Joins Parade of Gaming Capital Raises
MGM Resorts International (NYSE:MGM) is selling $500 million in senior notes coming due in 2028, the operator said today. They join a growing list of gaming companies heading to capital markets to raise cash. The Bellagio operator said it intends to use...
