5319 stories by Todd Shriber
Massachusetts Gaming Commission Gives Gamblers More Time to Collect Winnings, Citing Coronavirus Closures
The Massachusetts Gaming Commission (MGC) is giving gamblers more time to collect winnings, allotting for the temporary closures of the state's three casinos because of the coronavirus outbreak. At its Thursday meeting, the MGC voted unanimously to amend a stipulation requiring casino...
Tennis Targeted by Alleged Match Fixers as Coronavirus Suspension Drew Near
Corrupt gamblers looking to exploit a looming suspension forced by the COVID-19 outbreak allegedly targeted lower level tennis tours in the first three months of this year, according to new data from the Tennis Integrity Unit (TIU). In a report out earlier...
Wynn Macau Still Bleeding Cash, Forecasts Massive Q1 EBITDA Decline
Wynn Macau continues losing money, although casinos in the world's largest gaming center are open for business. The company expects the cash burn will continue as long as protocols implemented as a result of the coronavirus outbreak remain in place. Like other...
Boyd Furloughing Most Staff on April 11, Execs Taking Pay Cuts as Company Grapples With Coronavirus Closures
Boyd Gaming (NYSE:BYD) will furlough most of its workforce starting Saturday, April 11, as the Sam's Town operator looks to cut costs. All of its gaming venues remain shuttered because of the coronavirus outbreak. Like other gaming companies, Boyd has been subject...
Colorado Sports Betting Market Has Second-Best in West Potential, Could Reach $6 Billion
Colorado's sports betting market could be one of the most lucrative in the Western US, assuming there are events for gamblers to bet on May 1 when sports wagering will officially be permitted in the state. Last November, Centennial State voters narrowly...
Red Rock Resorts Execs Frank, Lorenzo Fertitta Drop 2020 Salaries for Duration of COVID-19 Pandemic
As long as the coronavirus continues rattling the gaming industry, Red Rock Resorts (NASDAQ:RRR) leaders Frank and Lorenzo Fertitta will not take salaries. The parent company of Station Casinos made the announcement on Monday, saying Chairman/CEO Frank Fertitta and his brother, Vice...
Macau Operators Could Experience April Showers With GGR Falling 95 Percent, According to Estimate
Just a week into April and it's already becoming clear that the first four months of 2020 could be one of the worst on record for Macau casino operators, with one research firm forecasting a 95 percent drop in gross gaming revenue...
Caesars, MGM Could Put the Hurt on Short Sellers if Bulls Seize Control of Market
Broadly speaking, shorting stocks is a winning strategy to this point in 2020, and nowhere is that more true than the travel and leisure industry, a group beset by savage declines at the hands of the coronavirus pandemic. With COVID-19 punishing the...
Macau Operators Need Daily Revenue of $38 Million to Break Even This Year, According to Analysts
Macau's six concessionaires can likely break even on an earnings before interest, taxes, depreciation and amortization (EBITDA) basis this year with $38.18 million in daily revenue. But getting to cash flow breakeven will be trickier, said JPMorgan analysts. The bank's research team...
San Manuel Pushes Temporary Closure Through April 30, Promises no Layoffs
For a second time, the San Manuel Band of Mission Indians is extending the closure of its eponymous Southern California gaming property, citing the need to protect the surrounding community and employees amid the coronavirus contagion. In mid-March, San Manuel joined rival...
