5082 stories by Todd Shriber
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...
Las Vegas Sands, Other US Operators Likely Win Macau Renewals, Say Analysts
Lingering hostilities between the US and China, the world's two largest economies, probably won't result in American operators losing rights to run casinos in Macau, according to Bernstein analysts. There are six concessionaires operating in the world's largest gaming center, three of...
DraftKings Slips After Pricing Share Sale at Steep Discount to Recent Close
DraftKings (NASDAQ:DKNG) stock is sliding today. The sportsbook operator said it priced its secondary offering at $52 a share, an 8.4 percent discount to Tuesday's close of $56.48. The daily fantasy sports (DFS) company shed more than 15 percent from its recent...
