4982 stories by Todd Shriber
Gaming Dependence Exposes Macau Economic Vulnerabilities, Says Fitch
As gaming cash dries up and visitation to the Special Administrative Region (SAR) remains scant, Macau is vulnerable to significant economic turbulence due to its dependence on casino revenue, says Fitch Ratings. The research firm affirmed the SAR's credit rating at AA...
Morgan Stanley Sees Floodgates Opening for Online Gambling, Sports Betting Following Coronavirus
Brick-and-mortar casinos throughout the US are shuttered because of the coronavirus. But in the states that allow it, online gambling is booming, and Morgan Stanley expects more come will aboard in permitting the activity when COVID-19 ebbs. A small number of states,...
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...
Wynn Resorts Still Loved by Short Sellers, But Affair Could Soon End
Wynn Resorts (NASDAQ:WYNN) is among the travel and leisure stocks that remain favored targets of short sellers looking to identify names vulnerable to coronavirus volatility. But the gaming equity could put the hurt on bearish traders. Recent data indicate Wynn joins Carnival...
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...
Wynn CEO Maddox Pitches COVID-19 Plan, Pushes Sisolak to Mull May Strip Reopening
Wynn Resorts CEO Matt Maddox has some ideas for how Nevada's economy can move forward in the face of the COVID-19 pandemic, and is pushing Gov. Steve Sisolak to consider reopening parts of the Las Vegas Strip as soon as next month....
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...
