5316 stories by Todd Shriber
Wynn Whimpers Following Goldman Downgrade, Bank Sees ‘Limited Upside’
Shares of Wynn Resorts (NASDAQ:WYNN) are lower by four percent in midday trading Tuesday. That's after Goldman Sachs lowered its rating on the gaming company to “neutral” from “buy,” while removing the stock from its prestigious Conviction Buy List. Predictably, Goldman cites...
Penn National Rallies as Barstool App Launch Nears, BofA Analyst Lauds Stock
Shares of Penn National Gaming (NASDAQ: PENN) are standing out after the company said it's close to rolling out the Barstool Sportsbook betting application in its home market of Pennsylvania. An analyst called the company one of the top names to own...
Macau GGR Trending Higher to Start September, Big Decline Still in Offing
Gross gaming revenue (GGR) in Macau is ticking higher this month, suggesting relaxed travel policies are starting to pay off. But another big year-over-year decline is still in the cards. Buoyed by mass market players and VIPs, GGR in the world's largest...
Monkey Knife Fight Buys Rival FantasyDraft as Consolidation Hits DFS Space
Mergers and acquisitions activity in the gaming industry is making its way to the daily fantasy sports (DFS) segment, as Monkey Knife Fight (MKF) is purchasing rival FantasyDraft. FantasyDraft clients have already been informed of the move, and the transaction is slated...
Macau Concessionaires Banking on Shiny Golden Week Performances
With Golden Week less than a month away, Macau operators have an opportunity to speed along recovery. Analysts view the marquee holiday as perhaps the last best hope for concessionaires there to finish 2020 on a strong note. Gross gaming revenue (GGR)...
Flutter Yanks PokerStars Out of China, Other Nearby Markets
Flutter Entertainment is turning off its PokerStars unit in China, Macau, and Taiwan, exiting some markets it gained access to via the recently completed acquisition of The Stars Group (TSG). Earlier this year, UK-based Flutter completed its $12.2 billion takeover of TSG,...
BetMGM Scores Michigan Victory as Detroit Lions First Betting Partner
Just in time for the 2020 NFL season, MGM Resorts International BetMGM unit is announcing another partnership. This time around, it's with the Detroit Lions. In a statement issued Thursday, the NFL franchise said BetMGM, a joint venture between the casino operator...
Caesars Still Top Gaming Idea as Analyst Lifts Price Target
Broad equity markets tumbled Thursday, and those declines are extending into Friday, taking gaming stocks along for the ride. But analysts remain enthusiastic about Caesars Entertainment (NASDAQ:CZR). During the market bloodbath of the past two days, Caesars stock hasn't been immune. But...
Caesars, VICI Selling Harrah’s Louisiana Downs to Rubico Acquisition for $22 Million
Caesars Entertainment (NASDAQ:CZR) and VICI Properties (NYSE:VICI) are selling the Harrah's Louisiana Downs racino to Rubico Acquisition Corp. for $22 million. The sale is the first asset divestment since the company, formerly known as Eldorado Resorts, finalized its $17.3 billion takeover of...
Resorts World Vegas Faces Dubious Profitability Prospects, Says Analyst
Genting Berhad is unlikely to realize rapid profits at Resorts World Las Vegas when the $4.3 billion integrated resort opens on the Strip next year, according to a brokerage firm. Maybank associate research director Samuel Yin Shao Yang says it's unlikely the...
