5037 stories by Todd Shriber
GVC Credit Rating Slips Further Into Junk Territory as Coronavirus Uncertainty Grips Sportsbooks
GVC Holdings Plc's (GVC) credit grade was lowered one notch to “BB” from “BB+” with a “negative” outlook by Fitch Ratings. That takes the mark further into non-investment grade status, as uncertainty created by the coronavirus pandemic takes hold in the sports...
DraftKings Soars in NASDAQ Debut, Closes Below Opening Print as Investors See Long Road to Profitability
DraftKings (NASDAQ:DKNG) jumped 10.38 percent in its first day as a public company on Friday. But the newly minted stock closed below its opening print, as some investors ponder how long it'll take for the sportsbook operator to turn a profit. On...
Monarch Casino a Best-in-Class Idea Among Regional Gaming Names, Says Analyst
Monarch Casino & Resort (NASDAQ:MCRI) is one of the smallest publicly traded gaming companies by market value – just $496 million – but it has massive upside potential in the eyes of some analysts. The Reno-based company owns just two casinos –...
MGM Note Offering Increased by 50 Percent Amid Strong Appetite for Gaming Paper
MGM Resorts International (NYSE:MGM) priced $750 million worth of senior notes coming due in 2025 on Thursday, a transaction that's slated to close on May 4. Normally, that would be no more than basic corporate news not worthy of closer examination. But...
DraftKings IPO Comes with Potential Governance Baggage
On Thursday, Diamond Eagle Acquisition Corp. (NASDAQ:DEAC) investors overwhelmingly voted in favor of a previously announced reverse merger with DraftKings and SBTech. That sets the stage for the combined entity to take the sportsbook operator's name and become a public company tomorrow,...
Las Vegas Sands Management Confidence Draws Analyst Praise
Las Vegas Sands (NYSE:LVS) reported first-quarter results Wednesday afternoon, and while the numbers were unattractive, they weren't as ugly as Wall Street expected. Moreover, confident tones sounded by executives are resonating with analysts. Shares of the Venetian operator are higher by 11...
MGM Q1 Results Cramped by COVID-19, Mulls Taking CARES Act Cash
MGM Resorts International (NYSE:MGM) was likely net income negative in the first quarter, excluding one-time items, as revenue tumbled 29 percent because of gaming property closures forced by the coronavirus. The Las Vegas-based company is scheduled to report results for the first...
Wynn Las Vegas Coronavirus Closure Extended to May 22, According to Facebook Post
A post on the Wynn Slots Facebook page indicates the company's Las Vegas integrated resort will remain shuttered through May 22, as the city contends with the impact of the coronavirus. The post appeared on the social media platform on Wednesday, a...
Las Vegas Sands Q1 Earnings Ugly But Not Scary, As Adelson Confirms M&A Interest
Las Vegas Sands (NYSE:LVS) surged more than eight percent in Wednesday's after-hours session after the company posted break even first-quarter results on the basis of generally accepted accounting principles (GAAP). It notched revenue of $1.78 billion, both of which were significantly better...
MGM Investors on Roller Coaster Ride, Stock Among Most Volatile Since February Top
Like every other name in the gaming industry, MGM Resorts International (NYSE:MGM) stock is being punished as the coronavirus forced the closure of all domestic casinos. But there's more to the story. Compounding MGM investor woes is the turbulence associated with the...
