5360 stories by Todd Shriber
Wynn Macau Still Bleeding Cash, Forecasts Massive Q1 EBITDA Decline
Wynn Macau continues losing money, although casinos in the world's largest gaming center are open for business. The company expects the cash burn will continue as long as protocols implemented as a result of the coronavirus outbreak remain in place. Like other...
Boyd Furloughing Most Staff on April 11, Execs Taking Pay Cuts as Company Grapples With Coronavirus Closures
Boyd Gaming (NYSE:BYD) will furlough most of its workforce starting Saturday, April 11, as the Sam's Town operator looks to cut costs. All of its gaming venues remain shuttered because of the coronavirus outbreak. Like other gaming companies, Boyd has been subject...
Colorado Sports Betting Market Has Second-Best in West Potential, Could Reach $6 Billion
Colorado's sports betting market could be one of the most lucrative in the Western US, assuming there are events for gamblers to bet on May 1 when sports wagering will officially be permitted in the state. Last November, Centennial State voters narrowly...
Red Rock Resorts Execs Frank, Lorenzo Fertitta Drop 2020 Salaries for Duration of COVID-19 Pandemic
As long as the coronavirus continues rattling the gaming industry, Red Rock Resorts (NASDAQ:RRR) leaders Frank and Lorenzo Fertitta will not take salaries. The parent company of Station Casinos made the announcement on Monday, saying Chairman/CEO Frank Fertitta and his brother, Vice...
Macau Operators Could Experience April Showers With GGR Falling 95 Percent, According to Estimate
Just a week into April and it's already becoming clear that the first four months of 2020 could be one of the worst on record for Macau casino operators, with one research firm forecasting a 95 percent drop in gross gaming revenue...
Caesars, MGM Could Put the Hurt on Short Sellers if Bulls Seize Control of Market
Broadly speaking, shorting stocks is a winning strategy to this point in 2020, and nowhere is that more true than the travel and leisure industry, a group beset by savage declines at the hands of the coronavirus pandemic. With COVID-19 punishing the...
Macau Operators Need Daily Revenue of $38 Million to Break Even This Year, According to Analysts
Macau's six concessionaires can likely break even on an earnings before interest, taxes, depreciation and amortization (EBITDA) basis this year with $38.18 million in daily revenue. But getting to cash flow breakeven will be trickier, said JPMorgan analysts. The bank's research team...
San Manuel Pushes Temporary Closure Through April 30, Promises no Layoffs
For a second time, the San Manuel Band of Mission Indians is extending the closure of its eponymous Southern California gaming property, citing the need to protect the surrounding community and employees amid the coronavirus contagion. In mid-March, San Manuel joined rival...
Nevada Approves eNASCAR Betting as Penn, Barstool Bring iRacing Series to Finish Line App
Like every other sport in the US, NASCAR is frozen because of the coronavirus outbreak. But its fans are enjoying an outlet in the form of esports, and now bettors can get in on the action after the Nevada Gaming Control Board...
William Hill Credit Rating Lowered, Coronavirus Culprit Hits Gaming Industry Again
William Hill saw its credit rating lowered further into non-investment grade territory. Moody's Investors Service downgraded the British bookmaker to Ba3 from Ba1, while placing the company on review for additional reductions. UK-based sportsbook operators Flutter Entertainment, GVC Plc, and William Hill...
