5138 stories by Todd Shriber
Londoner Macau Slated to Open February 2021
Sands China's Londoner Macau is nearing completion and is on pace to open in February, potentially positioning the venue to capitalize on rebounding traffic next year in the world's largest casino center. Wilfred Wong, president of Sands China, commented to local media...
Golden Nugget Online Wins New Jersey Approval for Landcadia SPAC Marriage
The New Jersey Casino Control Commission (CCC) Wednesday approved a license for Tilman Fertitta's Golden Nugget Online Gaming (GNOG). It's a move that will allow the internet casino operator to merge with a blank-check company and become a publicly traded entity. In...
Caesars Downgraded by Morgan Stanley, Bank Cites Near-Term COVID-19 Shutdown Risks
Shares of Caesars Entertainment (NASDAQ:CZR) are lower in midday trading after Morgan Stanley downgraded the largest domestic gaming company by number of venues. In a note to clients Wednesday, analyst Thomas Allen points out that a new batch of coronavirus-related restrictions applied...
Burgundy Balking: Asset Manager Says Apollo Offer Undervalues Great Canadian Gaming
There's takeover drama north of the border. Burgundy Asset Management says it has no plans to vote in favor of Apollo Global Management's (NYSE:APO) $2.5 billion takeover offer for Great Canadian Gaming Corp. (GCGC). Private equity behemoth Apollo revealed its acquisition plans...
DraftKings Earns Surprisingly Tepid Review in New UBS Coverage
DraftKings (NASDAQ:DKNG) is usually on the receiving end of heaping amounts of praise from Wall Street. But not all analysts following the name are overly enthusiastic. For example, UBS analyst Eric Sheridan initiated coverage of the daily fantasy sports (DFS) provider and...
Macau Gaming Equities Poised for 2021 Rebound on Pent-Up Demand, Says Morgan Stanley
A rebounding Chinese economy and pent-up demand are among the catalysts that could hasten 2021 recoveries for Macau gaming stocks, Morgan Stanley analysts said today in a note to clients. Six concessionaires, including three US-based companies, operate in the special administrative region...
Crown Resorts Credit Rating Trimmed by Moody’s Amid Sydney Project Delays
Crown Resorts Ltd.'s credit rating was pared one notch to Baa3 from Baa2 by Moody's Investors Service. That's after Australian regulators postponed the opening of the operator's Crown Sydney integrated resorts pending the outcome of a licensing suitability inquiry. Originally, the Aussie...
Penn Pumped by Piper Sandler, Research Firm Sees $84 Stock
Penn National Gaming (NASDAQ:PENN) continues piling up positive commentary among Wall Street analysts, with Piper Sandler analyst Yung Kim hopping on board this week. In new coverage of the regional gaming name and rising sports betting player, Kim tagged the Pennsylvania-based operator...
Macau VIP Resurgence Is Multi-Year Slog, Say Analysts
Recent gross gaming revenue (GGR) and traffic data points indicate things are trending in the right direction for Macau. But some analysts believe it's going to be a while before high-end players materially contribute to the special administrative region's (SAR) recovery. With...
Las Vegas Sands Anointed Top 2021 Rebound Idea by Goldman Sachs
Las Vegas Sands (NYSE:LVS) stock, like so many of its gaming peers, is enduring a rough 2020 at the hands of the coronavirus pandemic. But Goldman Sachs sees brighter days ahead for the name in 2021. Earlier this week, the Wall Street...
