5215 stories by Todd Shriber
DraftKings Gets Morgan Stanley Endorsement Ahead of Earnings
DraftKings joined the parade of sports betting equities trading higher Thursday, rallying on the back of bullish commentary by Morgan Stanley analyst Thomas Allen. Allen, one of the most noted gaming analysts on Wall Street, raised his third- and fourth-quarter revenue estimates...
Caesars Soars as JPMorgan Sees ‘High-Risk, High-Reward’ Opportunity
In one of the best days in its new form, Caesars Entertainment (NASDAQ:CZR) is higher by nine percent in midday trading. That's after JPMorgan restarted coverage of the gaming company with an “outperform” rating. It's been less than a month since the...
Penn National Pops to New High as Goldman Starts Coverage, Bank Backs Barstool Partnership
Shares of Penn National Gaming (NASDAQ:PENN) are higher by more than seven percent Thursday. The stock raced to a new 52-week high after Goldman Sachs initiated coverage of the gaming company with a “buy” rating. The bank points to multiple layers of...
Gaming, Leisure Industry Epicenter of COVID-19 Credit Downgrades
The hotel, gaming and leisure sector is proving its vulnerabilities to global pandemics, and that's evident in financial market parlance, where the industry suffered more corporate credit downgrades than any other since March. From March 1 through July 31, 62 percent of...
Sports Illustrated Prowling for Betting Partner
Authentic Brands Group (ABG), the owner of Sports Illustrated, is reportedly looking to pair the sports media property with a betting partner. The news was originally reported by the New York Post earlier today, which noted ABG is pushing to strike a...
Macau Concession Renewal Could Extend Beyond 2022
Gaming licenses for Macau's six concessionaires will expire in mid-2022, and conversations about renewing the permits are expected to gain steam next year. But there's a real possibility the process will be delayed. Macau Chief Executive Ho Iat Seng said the priority...
BetMGM, NASCAR Rev Up Partnership, Eye In-Race Betting For 2021
In its quest to gain a bigger slice of the US sports betting pie, NASCAR is teaming up with BetMGM, making the online betting firm an authorized gaming partner of the largest stock car racing series in the country. Financial terms of...
Twin River Pushes Pause on Buyback, Dividend, Remains Open to Acquisitions
Twin River Worldwide Holdings (NYSE:TRWH) is trading higher by more than five percent Tuesday. That's after the company reported better-than-expected second-quarter results, while noting it's pausing dividends and share repurchases. The operator of Rhode Island's two casinos lost 79 cents a share...
Sands, Wynn Extend Rallies as Guangdong Reveals IVS Restart, Rest of China Following in September
On Tuesday, shares of Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN) soared again. The stocks surged with news that Guangdong province will again issue individual visit scheme (IVS) travel permits on Aug. 26. Other mainland China regions join the party on...
IAC Unconventional MGM Investment Earns Rave Wall Street Reviews
IAC/InterActiveCorp's (NASDAQ:IAC) purchase of $1 billion worth, or 12 percent, of MGM Resorts International (NYSE:MGM) equity, news revealed on Monday, is eliciting praise from analysts covering both companies. Some are saying it's further confirmation of the growth expectations associated with online gaming....
