5138 stories by Todd Shriber
Playtika Inches Closer to US IPO Valuing Company at $10 Billion
Playtika Holding Corp., a provider of mobile games that was once controlled by Caesars Entertainment (NASDAQ:CZR), is moving closer to a US initial public offering (IPO). It filed related documents with the Securities and Exchange Commission (SEC) last week. The gaming company's...
Caesars, MGM Sports Betting Exposure Isn’t Fully Appreciated, Says Analyst
Caesars Entertainment (NASDAQ:CZR) and MGM Resorts International (NYSE:MGM) are increasing exposure to the rapidly growing domestic sports betting industry. But one analyst argues that the financial market doesn't yet fully appreciate the operators' growing footprints in this arena. Through its pursuit of...
Sportradar Earns Junk Credit Rating from Fitch, Outlook Stable
Sports data provider Sportradar landed a long-term issuer default rating of “B” with a “stable” outlook from Fitch Ratings after the privately held company sold $494.36 million in debt. That senior secured loan issue was graded “B+” by Fitch. Both marks are...
Twin River Buys Bally’s Brand from Caesars for $20 Million, Will Rename Most TRWH Casinos
Twin River Worldwide Holdings (NYSE:TRWH) said today it's acquiring the iconic Bally's brand from Caesars Entertainment (NASDAQ:CZR). The move that could resuscitate a name once synonymous with a bygone era in gaming. In a statement, TRWH didn't disclose the financial terms of...
Wynn Resorts Equity Has $150 Potential, Says Money Manager
Wynn Resorts (NASDAQ:WYNN) stock more than doubled off its March lows. But it's still in a funk this year, shedding nearly 48 percent as the coronavirus pandemic punishes gaming equities. However, one fund manager sees big things ahead for the Encore operator....
DraftKings Analysts Can’t Help Themselves as Price Targets Move into $70s
Wall Street analysts covering DraftKings (NASDAQ:DKNG) are quite enthusiastic about shares of the sportsbook operator. That ebullience is on display again as a pair reveal nice price forecasts on the name that averages out to $73. Credit Suisse analyst Benjamin Chaiken initiated...
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 &...
