4982 stories by Todd Shriber
Eldorado/Caesars Marriage Official, Brief Honeymoon as Work Starts on Cost Cuts, Possible Divestments
Today -- finally turning a more than year-long courtship into an official relationship -- Eldorado Resorts (NASDAQ:ERI) completed its $17.3 billion takeover of Caesars Entertainment (NASDAQ:CZR), creating the largest casino and entertainment company in the US. The new company retains the Caesars...
Century Casinos Undervalued With Significant Upside Potential, Says Analyst
Century Casinos (NASDAQ:CNTY) trades at valuations that are significantly below those sported by comparable gaming companies. But at least one analyst says that disconnect should evaporate as more investors embrace the Century story. In a note to clients today, Roth Capital analyst...
Marina Bay Sands Paying Wang $6.5 Million, Ending Gambler Suit Claiming Cash Sent to Other Guests
Marina Bay Sands Pte. -- the holding company for the Singapore integrated resort of the same name operated by Las Vegas Sands (NYSE:LVS) -- is settling a lawsuit with a disgruntled gambler for $6.5 million. Last year, Wang Xi, a Chinese gambler,...
Eldorado Lands Higher Price Target as Analyst Lauds Regional Efficiencies
As it nears completion of its acquisition of Caesars Entertainment (NASDAQ:CZR), Eldorado Resorts (NASDAQ:ERI) remains one of the preferred gaming equities among sell-side analysts. Wolfe Research analyst Jared Shojaian recently boosted his price forecast on the soon-to-be casino behemoth. In lifting his...
Eldorado Finally Wins New Jersey Approval to Acquire Caesars, Checks Last Regulatory Box
After more than two days of testimony from economists, executives, and other experts, the New Jersey Casino Control Commission (CCC) finally signed off on Eldorado Resorts' (NASDAQ:ERI) $17.3 billion acquisition of Caesars Entertainment (NASDAQ:CZR). That perhaps paves the way for the deal...
Wynn Macau Trims Daily Cash Burn to $2 Million, Guangdong Border Opening Expected to Help
Wynn Macau burned about $2 million a day during the time that travel restrictions were in place between mainland China, Hong Kong, and the gaming center. But that figure could improve with the elimination of Guangdong province's quarantine protocol. On Wednesday, Guangdong...
California Man Bilks Government Out of $8.5 Million in PPP Funds, Spends Some at Bellagio, Other Casinos
Andrew Marnell of Los Angeles was charged Thursday by federal prosecutors with fraudulently obtaining $8.5 million in Paycheck Protection Program (PPP) loans and allegedly spending some of that cash at the Bellagio and other Las Vegas casinos. Marnell, 40, a resident of...
Eldorado Contending With New Jersey Regulators’ ‘Uncertainty’ on Caesars Deal, Testimony Heads to Third Day
Members of the New Jersey Division of Gaming Enforcement (DGE) are expressing concerns about Eldorado Resorts' (NASDAQ:ERI) proposed $17.3 billion takeover of Caesars Entertainment (NASDAQ:CZR), causing testimony on the acquisition to drag into a third day. After winning approval for the takeover...
Leisure Acquisition Drops Gateway Casinos Deal, Rare Example of SPAC Taking Pass in Gaming Space
Leisure Acquisition Corp. (NASDQ:LACQ), a special purpose acquisition company (SPAC), is scuttling a $1.15 billion deal to merge with Gateway Casinos & Entertainment, a pact that would have taken the Canadian gaming firm public. New York-based Leisure Acquisition announced the end of...
Macau Scrapping Mainland Quarantine Policy Credit Catalyst for Operators, Says Moody’s
On Wednesday, travel between Guangdong province and Macau got a little easier with the removal of 14-day coronavirus quarantine policies. It's a move that could firm the credit ratings of the gaming hub's concessionaires, according to Moody's Investors Service. Earlier this week,...
