5083 stories by Todd Shriber
Eldorado Closer to Caesars Finish Line as Banks Prep Critical $7.2 Billion Bond Offering
In a move critical to sealing Eldorado Resorts Inc.'s $17.3 billion takeover of Caesars Entertainment (NASDAQ:CZR), the regional gaming company announced a massive corporate debt sale. That's while a syndicate of banks is preparing to move those bonds as market conditions improve....
DraftKings Forecasts Q2 Revenue Well Above Consensus, Shares Slide on Secondary Offering News
In a Form S-1 filing with the Securities and Exchange Commission (SEC), DraftKings (NASDAQ:DKNG) forecast second-quarter revenue that's well above consensus estimates. The filing, released today after the close of US markets, indicates the daily fantasy sports (DFS) company and sportsbook operator...
Becker, Thomas, Culprits in Alleged $30 Million Sports Betting Fraud, Allowed $5,000 in Monthly Living Expenses
A US District Court judge in Nevada will allow John F. Thomas and Thomas Becker — the two Henderson men behind an allegedly fraudulent $29.5 million sports wagering mutual fund — to draw $5,000 apiece per month in living expenses. Judge Andrew Gordon made...
UFC Adds $150 Million to $2.3 Billion Loan, Moody’s Concerned About Rising Leverage
UFC Holdings (UFC) is generating free cash flow, but the company behind the mixed martial arts (MMA) association is adding $150 million to a $2.3 billion loan, sparking concern about an increasing debt burden. By bringing in another $150 million into the...
William Hill Recovery ‘Strong,’ US Topping Expectations, Company Unveils Massive Share Sale
William Hill Plc, one of the largest sportsbook operators, said there's evidence of a strong recovery in betting markets as the sports calendar grows fuller and that the US region is topping internal estimates. The UK-based bookmaker added that it's planning a...
Caesars Reopenings Hindered by Nevada Regulations, Regionals Prove Steady
Caesars Entertainment (NASDAQ:CZR) said revenue in Nevada during the recent reopening of gaming venues there declined from the year earlier period. But there was some modest top line growth at its regional properties that came back online following the coronavirus shutdown. In...
Eldorado Makes Cash Call, Raises About $1.2 Billion in Share Sale, VICI Deals
Eldorado Resorts (NASDAQ:ERI) is pulling some levers to raise cash, saying Monday that it plans to sell 18 million shares of stock and that it struck two deals with VICI Properties (NYSE:VICI) worth a combined $503.5 million. The announcements were made after...
Wynn Macau Sells $750 Million in Debt as Coronavirus Crimps Revenue
Wynn Macau is selling $750 million worth of corporate notes, as the operator continues efforts to bolster its balance sheet with the coronavirus pandemic sapping revenue in the world's largest gaming hub. In a regulatory filing published yesterday, the owner of the...
Flutter, William Hill Earn Bullish Price Revisions, Analyst Cites US Opportunity for UK Gaming Firms
Flutter Entertainment, the parent company of FanDuel, is among the British bookmakers on the receiving end of bullish commentary from Jefferies analyst James Wheatcroft today. In a note to clients, Wheatcroft reiterated “buy” ratings on Flutter, GVC Holdings Plc, Playtech, and William...
Boyd Gaming Eyeing Up to 1,500 Layoffs in Louisiana
Boyd Gaming could lay off as many as 1,500 workers across its five Louisiana venues, according to a notice with the state Gaming Control Board (LGCB). Amid the coronavirus pandemic, Gov. John Bel Edwards ordered Pelican State casinos to close on March...
