5402 stories by Todd Shriber
Gaming Industry Adding to Better Outlook for Massachusetts Job Numbers
Casino operators, including Wynn Resorts, are playing an increasingly important role in job creation in Massachusetts, helping keep the commonwealth's unemployment rate among the nation's lowest. Wynn's $2.6 billion Encore Boston Harbor, open since June 23, is estimated to already have created...
Brookfield Asset Management Looking For Buyer of Bahamas Atlantis
Brookfield Asset Management Inc. (NYSE:BAM), an asset management and real estate development firm, is looking to sell the Atlantis Paradise Island Resort in the Bahamas, one of the region's most popular tourist destinations. Canadian-based Brookfield acquired the property, which features a casino,...
Eldorado Resorts Stock in Unusual Spot, History Says That Could Be a Good Thing
Eldorado Resorts, Inc. (NASDAQ:ERI), the regional gaming company that said last month it will acquire Caesars Entertainment Corp. (NASDAQ:CZR) for $17.3 billion, finds its stock in an unusual spot and if history repeats, the shares could be poised to rally. Over the...
MGM Mulling Real Estate Sale of High-End Las Vegas Strip Properties, Including Bellagio, MGM Grand
MGM Resorts International (NYSE:MGM) is reportedly in discussions to sell but retain operating rights to some of its glitzier Las Vegas Strip properties, including the Bellagio. If commenced, the transactions would be in the form of a sale-leaseback, meaning MGM would sell...
Rhode Island Gov. Raimondo Balks at Twin River Offer to Take Lottery Contract From IGT
Gov. Gina Raimondo (D-RI) doesn't want Twin River Worldwide Holdings, Inc. (NYSE:TRWH), Rhode Island's lone casino operator, usurping International Game Technology Plc (NYSE:IGT) as the state's lottery manager. Recently, Twin River offered Rhode Island $125 million in cash upfront to takeover the...
June Gloom For MGM Springfield as Gaming Revenue Slumps 10.5 Percent From May, Second-Worst Month Since Opening
MGM Springfield struggled to jumpstart gross gaming revenue (GGR) in June, notching its second-worst month by that metric since opening in August 2018. The casino, which has been struggling to meet revenue targets since inception, posted June GGR of $19.95 million, down...
Wynn Resorts Analyst Finds Stock Interesting, Encouraged by Capital Allocation Plans
J.P. Morgan gaming and leisure analyst Joseph Greff finds shares of Wynn Resorts, Ltd. (NASDAQ:WYNN) interesting and is enthusiastic about the comments the company made regarding its capital spending plans at its recent analyst and investor day. In a new research note,...
Luck Wasn’t a Lady For Monday Patrons at Larry Flynt Los Angeles Casino
Eleven patrons were injured Monday when part of the roof at Larry Flynt's Lucky Lady Casino in Gardena, Calif. collapsed. A 25-foot by 15-foot portion of the roof over the Lucky Lady's lobby fell to the ground Monday morning, according to the...
Epoch Investment Partners CEO Priest Bullish on MGM Resorts, Sees Ongoing US, China Growth
William Priest, CEO and chief investment officer (CIO) of Epoch Investment Partners, is bullish on shares of MGM Resorts International (NYSE:MGM), citing a variety of factors, including continued revenue growth in the US and China, the casino operator's most important markets. MGM,...
Eldorado Selling Mississippi, Missouri Casinos to Twin River ‘Credit Positive,’ Says Moody’s
Last week's announcement by Eldorado Resorts, Inc. (NASDAQ:ERI) to sell two casinos to Twin River Worldwide Holdings, Inc. (NYSE:TRWH) for $230 million in cash is a move viewed as “credit positive” by Moody's Investors Service. Proceeds from the sale of the Isle...
