4985 stories by Todd Shriber
Bicycle, Gardens Casinos, Other California Card Rooms in Bind for PPP Funds
Bell Gardens, Calif. and Hawaiian Gardens, Calif. are homes to the Bicycle Hotel and Casino and Gardens Hotel and Casino – two of the dozens of Golden State card rooms that aren't eligible for assistance under the Small Business Administration’s Paycheck Protection...
Everi Could Join Club of Gaming Companies Asking Lenders for Debt Covenant Relief
Everi Holdings (NYSE:EVRI) is reportedly joining a growing list of gaming companies in asking lenders to amend debt covenant ratio agreements in an effort to gain some financial wiggle room amid a zero- revenue outlook for casino operators. Shares of the gaming...
Wynn Resorts Wants Massachusetts Auto Body Shop $9.6 Million Suit Tossed
Wynn Resorts is asking a judge in the US District Court – District of Massachusetts to toss a $9.6 million civil suit brought last year by the owner of an Everett, Mass. auto body shop. The lawsuit claims the gaming company attempted...
MGM Credit Rating Confirmed by Moody’s, but Outlook Cloudy With Chance of Downgrade
MGM Resorts International's (NYSE:MGM) credit rating was confirmed at “Ba3” by Moody's Investors Service. But that confirmation came with a “negative” outlook, indicating the Mirage operator isn't yet out of the woods when it comes to a downgrade. With US casinos shuttered...
Everi Holdings Stung by Fitch Downgrade, Outlook Negative with Forecast of Increasing Leverage
Shares of gaming technology provider Everi Holdings (NYSE:EVRI) slumped Monday a few days after Fitch Ratings pared its credit mark on the company further into junk territory. Las Vegas-based Everi rallied more than 53 percent last week. But the stock is following...
Macau Rebound Could Take Awhile, Analyst Sees 80 Percent Drop in Q2 Gaming Revenue
Macau's gross gaming revenue (GGR) recovery could take some time – perhaps until 2022 -- before turnover there approaches levels seen in 2019 before the coronavirus smashed the casino industry. In a note to clients Monday, Nomura Instinent analyst Harry Curtis estimates...
GAN Going with NASDAQ Listing Before April End, Looking to Raise $35 million
GAN, the gaming technology company formerly known as Game Account Network, is forging ahead with plans to list its shares on the NASDAQ stock exchange. It hopes to raise $35 million in the process in an offering that could happen before the...
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...
Wynn $600 Million Note Sale Indicates Gaming Industry Can Access Cash if Needed
Earlier this week, Wynn Resorts (NASDAQ:WYNN) sold $600 million of corporate notes coming due in 2025 with at an interest rate of 7.75 percent in a private offering, a transaction that was significant for at least two reasons. First, the offering was...
Gaming and Leisure, MGP, Vici Earn Negative Outlooks From Moody’s Amid Coronavirus, Weak Economy
Gaming and Leisure Properties (NASDAQ:GLPI), MGM Growth Properties (NYSE:MGP), and Vici Properties (NYSE:VICI) each had outlooks on their credit ratings lowered to “negative” from "stable" by Moody's Investor’s Service. The research firm cited the coronavirus pandemic and vulnerabilities created by the deteriorating...
