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Todd Shriber
5655 stories by Todd Shriber
MGM Resorts Won’t Borrow From Uncle Sam, But Loan Guarantees Could be Useful if Closures Extend
Grappling with the financial impact of all of its domestic gaming operations being temporarily halted because of the coronavirus outbreak, MGM Resorts International (NYSE:MGM) doesn't plan to tap the $454 billion in loans being made...
Sheldon Adelson Pushed Congress to Approve Stimulus, But Sands Won’t Receive Aid
Las Vegas Sands (NYSE:LVS) Chairman and CEO Sheldon Adelson used his extensive network of political contacts to press Congress to pass a stimulus package to help industries and workers affected by the coronavirus. But his...
Yokohama Earmarks $3.6 Million in Latest Budget for Integrated Resort Effort
Yokohama's fiscal 2020 budget contains a $3.6 million appropriation for the city's integrated resort ambitions. Japan's second-largest city behind Tokyo is competing with several other large metropolitan areas, including the capitol city and Osaka, to...
Everi Holdings Pulls 2020 Financial Forecast, Cites ‘Limited Visibility’ on Coronavirus Casino Closures
Everi Holdings (NYSE:EVRI) is joining a growing list of gaming companies in withdrawing 2020 financial guidance due to the impact the coronavirus pandemic is having on the industry. The maker of gaming machines, payment solutions,...
San Manuel Extends Casino Closure Through April 11 as California Shelter-in-Place Policy Takes Hold
The San Manuel Band of Mission Indians, the operator of the Southern California gaming property bearing the tribe's name, said it's extending the closure period of that venue through April 11. That's as residents of...
GLP Yanks 2020 Financial Guidance, Citing Coronavirus, Draws $530 Million on Bank Credit Line
Gaming and Leisure Properties (NASDAQ:GLPI) is withdrawing its 2020 financial guidance, citing the impact the coronavirus pandemic is having on the casino industry. The real estate company said it recently drew $530 million on a...
Pechanga Preparing for Lengthier Closure, Staff Reductions Could be Coming in April
The Pechanga Band of Luiseño Indians, the operator of the Pechanga Casino in Temecula, Calif., said it's preparing for a temporary closure announced last week to last longer than previously expected. It added that staff...
Las Vegas Sands, MGM, Wynn, Others Tagged with Negative Credit Outlooks by Standard & Poor’s
Las Vegas Sands (NYSE:LVS), MGM Resorts International (NYSE:LVS), and Wynn Resorts (NASDAQ:WYNN) are among the operators vulnerable to credit downgrades, as the coronavirus imperils the domestic gaming industry, according to new research from Standard &...
Twin River Bolsters Balance Sheet, Prepares for Potentially Long Winter of Casino Closures
Twin River Worldwide Holdings (NYSE:TRWH) is joining rival casino companies in accessing cash, preparing for what could be longer-than-expected gaming property closures. The operator of Rhode Island's two casinos said in a statement out Friday...
Macau Table Game Capacity Up to 80 Percent, But Government Slashes 2020 GGR Forecast in Half
Table games at Macau's casinos are now running at 80 percent capacity following a 15-day closure in February. But the Special Administrative Region's (SAR) road back to normalcy is going to take a while after...
