5360 stories by Todd Shriber
Wynn Resorts Paying US Workers To May 15, Earns Internet Kudos
At a time when some commercial and tribal casino operators are laying off staff because of temporary closures forced by the coronavirus outbreak, Wynn Resorts is extending pay to all of its US employees through May 15. The move, announced Tuesday evening,...
Las Vegas Sands, Wynn Resorts Dividends Stare Down Coronavirus Vulnerability
Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN) are among 60 S&P 500 members that could need to cut or suspend dividends to conserve capital as the coronavirus pandemic weighs on the economy, according to one equity strategist. In a note out...
Sandoval Follows Murren Out at MGM, Former Governor Pursuing University of Nevada, Reno Presidency
Former Nevada Gov. Brian Sandoval is vacating his role as president of global gaming development at MGM Resorts International to pursue the top spot at the University of Nevada, Reno (UNR). News of Sandoval's departure comes less than two weeks after former...
Eldorado Hedge Fund Supporters Stuck Around in Q4, Some Got Burned in Q1
Eldorado Resorts, Inc. (NASDAQ:ERI) stock remained a hedge fund favorite in the fourth quarter, possibly scorching some of those professional investors as the shares plunged 75.60 percent in the first three months of 2020. At the end of 2019, 49 hedge funds...
Las Vegas Sands Is a Safe Bet in Dicey Casino Industry, Says Analyst
There are no sure things in investing, and that's certainly true these days with gaming equities. But Las Vegas Sands (NYSE:LVS) appears to be one of the group's safer names, according to one Wall Street analyst that covers the company. Earlier today,...
Hornbuckle Shows Confidence in MGM Stock, Adds 41,000 Shares Just This Week
William Hornbuckle, the interim CEO of MGM Resorts International (NYSE:MGM), is displaying confidence in his employer's stock, scooping up more than 41,000 shares in the gaming company just this week. To be precise, Hornbuckle added 41,300 shares of MGM equity over the...
Eldorado, Caesars Wedding Is On, Unidentified Source Says Save a June Date
Shares of Eldorado Resorts (NASDAQ:ERI) and Caesars Entertainment (NASDAQ:CZR) are soaring Tuesday after an unidentified source told CNBC the $17.3 billion transaction that will create the largest US gaming company should be completed in June. That report comes just days after the...
Wynn Macau Scraps 2019 Dividend Citing Need to ‘Safeguard’ Operations During COVID-19 Pandemic
Wynn Macau Ltd. is the latest gaming company to alter its dividend policy citing the coronavirus outbreak, saying earlier today that it won't deliver a 2019 payout. That after the operator of the Wynn Macau and Wynn Palace integrated resorts paid a...
Macau Revenue Won’t Stop Falling Until October, but 2021 Should be Better, Says Morgan Stanley
Macau's faltering gross gaming revenue (GGR) will maintain that downward trajectory at least until October. But a significant 2021 rebound could be in store for the world's largest gaming center, according to Morgan Stanley analysts. With visitation still at trickle levels amid...
Penn National Adds Month of Liquidity in Tropicana Deal With GLP, Says Analyst
Penn National Gaming (NASDAQ:PENN) said last Friday it's selling the real estate assets of the Tropicana Las Vegas and the ground lease of an asset in Morgantown, Pa. to Gaming and Leisure Properties (NASDAQ:GLPI) for $337.5 million worth of rent credits, a...
