5139 stories by Todd Shriber
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...
Caesars Lands Another $100 Target as Analyst Says ‘Little Credit’ Assigned to Sports Betting Unit
Caesars Entertainment (NASDAQ: CZR) is making waves in the gaming industry as it pushes forward with a $3.69 billion takeover attempt of William Hill (OTC:WIMHY). One analyst sees significant upside ahead for the Flamingo operator. In a note to clients Monday, Union...
IG Acquisition, Latest SPAC with Possible Gaming Desires, Raises $300 Million in IPO
IG Acquisition Corp. (NASDAQ:IGACU) recently raised $300 million in an initial public offering (IPO). The special purpose acquisition company (SPAC) was founded by former high-level gaming industry executives and a venture capitalist, Bradley Tusk. That IPO could increase to $375 million if...
Twin River Forecasts Q3 Revenue up to $130 Million, Sells $125 Million in Debt
Regional gaming company Twin River Worldwide Holdings (NYSE:TRWH) delivered an early look at its third-quarter results today. It expects earnings before interest, taxes, depreciation and amortization (EBITDA) of $30 million to $40 million on revenue of $100 million to $130 million. At...
