5082 stories by Todd Shriber
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,...
DraftKings Inks Deal With Premier Lacrosse League Ahead of Summer Tournament
DraftKings will be the official betting partner of the Premier Lacrosse League (PLL) and the association's lone regulated gaming sponsor, announcing the deal just days before PLL's summer tournament starts. DraftKings revealed the agreement Thursday and financial terms weren't disclosed. The 16-day,...
Sportradar Reportedly Mulling Going Public, Stoking More SPAC Speculation
Sports data provider Sportradar is reportedly mulling life as a publicly traded entity, stoking talk the Swiss company could consider joining the growing list of firms using special purpose acquisition companies (SPACs) to attain that status. Sportico, a sports business journal, reported...
Louisiana Governor Says Eight Is Great for Daily Fantasy Sports Tax Rate
Louisiana Gov. John Bel Edwards (D) earlier this week signed off on a tax rate of eight percent on daily fantasy sports (DFS) contests, paving the way for DFS legitimacy in the Pelican State. House Bill 64, which sets the DFS levy...
Caesars Regional Casinos Shine in Reopening, Las Vegas Properties Not So Much
Caesars Entertainment (NASDAQ:CZR) says its regional properties continue performing well following recent reopenings, but its gaming venues in destination markets, such as Las Vegas, are struggling. The same sentiment is being articulated by Eldorado Resorts (NASDAQ:ERI), the company that's closing in on...
