5173 stories by Todd Shriber
Einhorn Lifts Penn Entertainment Stake Amid Board Controversy
DME Capital lifted stake in Penn in first quarter Increased Penn position as another hedge fund ramped up attacks on board, CEO In the first quarter, David Einhorn's DME Capital Management increased its investment in Penn Entertainment (NASDAQ: PENN) as another hedge...
Penn Claps Back at Vora, Says Investor Violated State Gaming Laws
Penn board says HG Vora demanded massive buyback, pause on improvements at some regional casinos Board says hedge fund wanted strategic review of entire company Claims investor violated state gaming and federal securities laws In a wide-ranging letter to investors today, Penn...
US-Based Macau Operators Not in Crosshairs, Says Chief Executive
Macau Chief Executive Sam says US-based concessionaires won’t be targets of retaliation Comments come as the US and China make progress on trade The three US-based Macau concessionaires won't be targets of retaliation should US/China trade tensions flare up, according to the...
DraftKings Faces Microbetting Patent Infringement Suit
Suit brought by Micro-Gaming Ventures Plaintiff says DraftKings’ 2024 acquisition of Simplebet highlights importance of microbetting technology DraftKings is facing a patent lawsuit brought by a sports betting technology company that claims the sportsbook operator infringed upon five patents the plaintiff developed...
Queens Casino Plan Boosted by New York Assembly Vote
New York State Assembly votes to allow casino near Citi Field Gaming venue is part of $8 billion Metropolitan Park project pitched by Steve Cohen and Hard Rock International New York Mets owner Steve Cohen’s effort to bring a casino hotel to...
It’s On: Vora Initiates Proxy War Against Penn Entertainment
Hedge fund officially declares proxy war against casino company Vora urges investors to vote for its directors slate Says Penn has destroyed shareholder value In a widely expected move, HG Vora filed a definitive proxy statement against Penn Entertainment (NASDAQ: PENN), making...
Tariff Tumult: Casino Stocks Among Most Shorted S&P 500 Names in April
“Liberation Day” encouraged shorting of casino stocks Caesars, MGM among favorite targets Gaming equities now pinching bearish traders Immediately following “Liberation Day” on April 2, bearish traders laid into casino stocks, making several among the shorted names in the S&P 500. Now,...
Adelson-Owned Mavericks Win NBA Draft Lottery
Team faced long odds of landing top pick Likely to select Cooper Flagg of Duke Second draft under Adelson/Dumont ownership The Dallas Mavericks -- the NBA franchise owned by Las Vegas Sands’ (NYSE: LVS) largest shareholder and one of the company’s highest-ranking...
Wynn Could Fetch $1 Billion in Vegas Land Sale, Says Analyst
Company hasn't said Las Vegas land is for sale Property was highlighted on recent earnings call Analyst says it could be a “prudent” move Should Wynn Resorts (NASDAQ: WYNN) opt to sell its currently undeveloped 38 acres of Las Vegas Strip land,...
Century Casinos Will Soon Buy Back Stock
Regional casino operator will commence buyback plan in coming weeks Could be in the millions of dollars Perhaps signaling to investors it sees value in its battered stock, Century Casinos (NASDAQ: CNTY) announced today it will soon commence a share repurchase program....
