5082 stories by Todd Shriber
Northern Arapaho Tribe Pushing Ahead with Wyoming Sports Betting Effort
Wyoming's Northern Arapaho Tribe is looking to leverage its status as a sovereign entity. This would allow the tribe to bring sports wagering to the Cowboy State. The Native American group, which runs the Wind River Hotel & Casino in Riverton, says...
Sands Earns ‘Buy’ Rating as Analyst Sees Trough for Rough Macau Estimates
Las Vegas Sands (NYSE:LVS) stock is perking up in the wake of its third-quarter earnings report delivered earlier this week. One analyst believes there's room for more appreciation, as Macau gross gaming revenue (GGR) estimates near a bottom. In a note to...
Caesars, Mohegan Gaming Dealing with Financing Crunch on South Korea Projects
Caesars Entertainment and Mohegan Gaming & Entertainment (MGE) are both grappling with financing issues for integrated resort projects in the Incheon region of South Korea. The coronavirus pandemic is viewed as the culprit behind the problems. Over the course of the health...
Murren SPAC Acies Acquisition Trims IPO Size to $200 Million
Acies Acquisition Corp. is slashing the size of its upcoming initial public offering (IPO) to $200 million from $300 million. Acies is a special purpose acquisition company (SPAC) backed by former MGM Resorts International (NYSE:MGM) CEO Jim Murren. It was revealed last...
Las Vegas Sands Q3 Loss Better than Expected, But Revenue Misses Street Forecasts by $65.84 Million
Las Vegas Sands (NYSE:LVS) posted a third-quarter loss of 74 cents a share, beating Wall Street estimates by five cents. But the operator said revenue was $586 million, missing analysts' projection by $65.84 million. That's an 82 percent year-over-year drop in sales....
Eldorado Effect: Caesars Rewards Membership Jumps 20 Percent Thanks to Merger
Eldorado Resorts' takeover of Caesars Entertainment is having tangible benefits in at least one area. The transaction, sealed in July, created a massive influx of new members to the Caesars Rewards loyalty program. In terms of membership total, the perks plan jumped...
Las Vegas Sands Long-Term Idea with Short-Term Issues, Says Analyst
Las Vegas Sands (NYSE:LVS) remains beholden to a sluggish Macau recovery ahead of its third-quarter earnings report. That is prompting at least one analyst to take a tepid view of the stock. In a note to clients Wednesday, Roth Capital analyst David...
Macau October GGR Trending Higher, But Motorcycle Grand Prix Probably Canceled
JPMorgan analysts estimate gross gaming revenue (GGR) in Macau averaged $27.8 million on a daily basis through the first 18 days of October. That's a far cry from pre-coronavirus pandemic levels, but still a marked improvement over September's tally. The Golden Week...
IRS Rules Daily Fantasy Sports Is Gambling, Not Game of Skill
In a memo released last week, the IRS ruled the fees players pay to participate in daily fantasy sports (DFS) are indeed gambling expenses. As such, the endeavor itself should be treated as wagering, not a game of skill. In PLR 202042015,...
Barstool Sportsbook Quickly Grabs Pennsylvania Share, Analyst Sees Large National Footprint
In September, Pennsylvania notched a record sports betting handle of $462.8 million. This topped the previous high mark set just a month earlier by $100 million. The newest entrant to the state's online sports wagering fray, Barstool Sportsbook, quickly accumulated market share....
