5214 stories by Todd Shriber
DraftKings Announces Massive Secondary Offering, Forecasts Q3 Revenue up to $133 Million
DraftKings (NASDAQ:DKNG) stock is tumbling Monday after the daily fantasy sports (DFS) provider said it's selling 32 million shares of equity to raise capital, and that it expects third-quarter revenue of $131 million to $133 million. The company said sales increased 97...
Mountain Crest SPAC Buying Playboy for $381 Million, Gaming Deals in Play
Mountain Crest Acquisition Corp. (NASDAQ:MCAC) is paying $381 million to acquire Playboy Enterprises. It's a move that will return the venerable men's media property to public markets, and could result in future acquisitions of gaming companies. Under the terms of the deal,...
Betfred Founder Done Considering Competing Offer for William Hill
Betfred founder Fred Done is reportedly considering raining on Caesars Entertainment's (NASDAQ:CZR) parade and making a higher offer for William Hill (OTC:WIMHY). Following a lengthy period of speculation, the Caesars Palace operator last week agreed to acquire William Hill for $3.69 billion...
Sports Entertainment Acquisition, SPAC with Possible Gaming Ambitions, Upsizes IPO to $400 Million
Sports Entertainment Acquisition Corp. (NYSE:SEAH.U), a special purpose acquisition company (SPAC), said today it priced 40 million units at $10 apiece, topping the previously estimated size of its initial public offering (IPO). The Florida-based company is the latest in a growing line...
Macau Travel Numbers Improving this Month, Say Analysts
This could finally be the month Macau visitation numbers and gross gaming revenue (GGR) markedly turn for the better, according to industry analysts. But the world's largest casino center still faces challenges. On Thursday, the Macau Gaming Inspection and Coordination Bureau said...
Penn National Split Decision: Ornery Analyst Says ‘Sell’ Internet Meme, Another Says It’s Going to $100
These days, the broad consensus in the analyst community on Penn National Gaming (NASDAQ:PENN) stock is that the name is a “buy.” It's rare that opinions on the casino firm deviate wildly on the same day. However, that's happening today, as Deutsche...
Twin River Paying $120 Million for Jumer’s Casino in Initial Illinois Entry
Twin River Worldwide Holdings (NYSE:TRWH) is purchasing Jumer's Casino & Hotel in Rock Island, Ill. for $120 million in cash, marking the company's first move into the Prairie State. Jumer's has a 40,000 square foot casino with 870 slot machines, 25 table...
Penn National Rallies After Analyst Lifts Price Target to Another Street High
Penn National Gaming (NASDAQ:PENN) is rallying anew today, helped by an impressive financial forecast and more sell-side enthusiasm. In a note to clients today, Rosenblatt Securities analyst Bernie McTernan boosted his price forecast on the gaming company to $90, the highest on...
Las Vegas High-End Integrated Resorts Unlikely to Lead Hotel Recovery
Glitzy Las Vegas Strip venues, such as the Cosmopolitan and the Wynn, are unlikely to be near-term contributors to the broader lodging industry's recovery, as Fitch Ratings forecasts weakness across the premium hotel segment. The research firm says the domestic lodging group's...
Hong Kong Chief Executive Carrie Lam Wants Travel Restart with Macau
Hong Kong is angling to resume travel with Macau and mainland China, with leaders from the special administrative region (SAR) saying the time is appropriate to do so as coronavirus case counts there continue declining. Chief Executive Carrie Lam said a third...
