5316 stories by Todd Shriber
Macau Politicians Push Government to Relax Guangdong Border Controls
With gaming revenue slumping and visitation scant, politicians in Macau are pushing the government to loosen travel restrictions with neighboring Guangdong Province – the region of mainland China closest to the casino hub. Given that proximity, Guangdong is a major source of...
Gaming and Leisure Collects Nearly All April Rent, Finalizes Penn National Tropicana Deal
Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) updated investors today on April rent collection efforts. It also noted it wrapped up its previously announced transaction with Penn National Gaming (NASDAQ:PENN) for the property assets of the Tropicana Las Vegas. In a deal announced...
Penn National Finds Benefit in Coronavirus Closures: Online Business Is Booming
As is the case with all of its rivals, Penn National Gaming (NASDAQ:PENN) is dealing with casino closures across the country because of the coronavirus. But the company's Penn Interactive Venture online gaming business is benefiting, as gamblers are seeking alternatives to...
MGM China Has Resources to Last 15 Months, Don’t Bet on Parent Selling Stake, Say Analysts
MGM China, the Macau gaming business majority owned by MGM Resorts International (NYSE:MGM), has the financial resources to survive up to 15 months if scant visitation to the Special Administrative Region (SAR) lingers. But don't bet on the parent company selling its...
Full House Resorts Has Cash to Survive COVID-19 Shutdown, Eyes Colorado, Indiana Sports Betting Revenue
Full House Resorts (NASDAQ:FLL), the operator of five casinos in four states, said its cash burn rate is slowing. That's following staff furloughs, and it claims enough liquidity to survive several more months if gaming properties remain closed because of the coronavirus....
Las Vegas Sands Dividend Damned by Coronavirus, Adelson Says Balance Sheet Is Strong
Las Vegas Sands (NYSE:LVS), the largest US gaming company by market value, is suspending its dividend, citing the adverse impact the coronavirus outbreak is having on integrated resort operations. The Venetian and Palazzo operator is the second domestic gaming company to halt...
Wynn Resorts Gets Some Financial Flexibility From Lender Deutsche Bank
Wynn Resorts (NASDAQ:WYNN) is getting some flexibility on its credit agreement with Deutsche Bank. The company is gaining a covenant relief period to potentially avoid default, as domestic gaming operators contend with what is becoming a lengthy temporary closure period forced by...
DraftKings IPO: No Sports, No Problem, as Company Targets April Listing
DraftKings, the daily fantasy sports (DFS) giant and sportsbook operator, isn't letting a nearly non-existent slate of athletic competitions deter its plans of becoming a public company. The Boston-based firm eyes an offering before the end of this month. In December, the...
Galaxy Entertainment, Sands China Best Break Even Bets in Macau, Others Could Bleed Cash, Says Morgan Stanley
First-quarter earnings updates from gaming companies aren't rolling in quite yet. But when those reports arrive, they'll assuredly contain gory details about Macau. Yet Morgan Stanley sees the potential for less bad results from Galaxy Entertainment and Sands China. Because of the...
Former Nevada Gaming Control Chair Bets Regulators Will Approve Eldorado Caesars Takeover
Former Nevada Gaming Control Board Chairwoman Becky Harris believes regulators will sign off on Eldorado Resorts Inc.'s (NASDAQ:ERI) $17.3 billion acquisition of rival Caesars Entertainment Corp. (NASDAQ:CZR). But she didn't offer a guess as to when that might happen. The deal –...
