5214 stories by Todd Shriber
PIMCO Enthusiastic on Travel, Leisure Debt, Including Casino Bonds
Fixed income manager Pacific Investment Management Co. (PIMCO) sees opportunities with corporate debt issued by travel and leisure companies, including casino operators, particularly if a coronavirus vaccine comes to market. Airlines, gaming companies, and hoteliers, to name a few, were among the...
William Hill Wins Approval for Purchase of CG Technology Nevada Ops, Including Several Strip Books
Already the largest sportsbook operator in Nevada, William Hill got the green light to bolster its Silver State footprint Thursday. That's when the Gaming Control Board (NGCB) approved the British company's purchase of CG Technology's (CGT) operations in the state. The acquisition,...
DraftKings, Penn National Downgraded by Morgan Stanley, Bank Cites Valuation, NFL Risk
In a rarity for sports betting equities these days, not one, but two beloved names suffered downgrades in a single day. Morgan Stanley's Thomas Allen lowered his ratings on DraftKings (NASDAQ:DKNG) and Penn National Gaming (NASDAQ:PENN) to “equal weight” from “overweight.” Allen,...
PointsBet Scores $500 Million Deal With NBC in Latest Betting/Media Marriage
Australian sportsbook operator PointsBet notched a victory Thursday. The service reportedly scored an almost $500 million deal with Comcast's NBC Sports to become the broadcaster's official sports betting partner. The news, originally reported by Sportico, is the latest in a series of...
Red Rock Resorts Estimates Raised by Analyst as Las Vegas Locals Segment Perks Up
Shares of Red Rock Resorts (NASDAQ:RRR) climbed modestly in midday trading Thursday. That's after an analyst boosted his 2020 through 2022 earnings before interest, taxes, depreciation and amortization (EBITDA) forecasts on the gaming company. In a note to clients today, Stifel analyst...
Score Media Adds to New Jersey Exposure in Online Casino Deal With Twin River
Score Media and Gaming Inc. (OTC:TSCRF) is adding to its US footprint. Its Score Digital Sports Ventures unit, also known as theScore Bet, landed a deal to run an online casino in New Jersey for Twin River Worldwide Holdings (NYSE:TRWH). The Canadian...
Scientific Games Providing Golden Parachutes for Executives in Event Company Is Acquired
Scientific Games (NASDAQ:SGMS) is providing opulent financial protection for top-ranking executives -- including CEO and President Barry Cottle -- in the event there's a change in control at the gaming company in which C-suite members depart the firm. The Las Vegas-based company...
Colorado Sports Betting Handle Surges 55 Percent in July as National Sports Resume
Buoyed by the return of major domestic sports leagues, Colorado notched a sports betting handle of $59.18 million in July. That's a 55 percent increase from June, marking the best of the three months thus far that sports wagering has been live...
Caesars Tops Analyst List of Virus Vaccine Gaming Equity Ideas
As is the case with so many gaming operators with deep ties to the Las Vegas Strip, the near-term fortunes of Caesars Entertainment (NASDAQ:CZR) and its investors are correlated to advancements on the coronavirus vaccine front. In a new note to clients,...
Nevada Gross Gaming Revenue Jumps to $756.7 Million in July, Improvement Over June Tally
Silver State gaming venues won $756.79 million in July, a 26.16 percent decline from the $1.02 billion won in July 2019, according to figures released today by the Nevada Gaming Control Board (NGCB). While the July haul was a year-over-year decline for...
