5215 stories by Todd Shriber
Asia-Pacific Gaming Earnings Feel Coronavirus Crimp, Projected to Fall 70 Percent
The coronavirus pandemic is presenting the Asia-Pacific casino industry with gale-force headwinds, as earnings before interest, taxes, depreciation and amortization (EBTIDA) in the region could slide as much as 70 percent this year, according to the research firm, Moody's Investors Service. Citing...
Gaming REITs Offer Value, Out-Performance Potential, Says Analyst
Companies owning property assets of domestic casinos are relatively safe value ideas, with the potential to outperform other gaming equities. That's according to an analyst that recently launched coverage on this corner of the real estate sector. Wolfe Research analyst Jared Shojaian...
DraftKings Lands $60 Forecast, Highest Yet, Analyst Sees Triple Potential
Even while it's experiencing its worst week as a publicly traded company, DraftKings (NASDAQ:DKNG) continues luring bullish commentary from sell-side analysts. Rosenblatt Securities is launching coverage of the sportsbook operator with a “buy” rating and a Wall Street high price forecast of...
Barstool Sportsbook App Will Arrive in Time for Football Season, According to CEO Nardini
Penn National Gaming's (NASDAQ:PENN) sports betting mobile application featuring Barstool Sports branding should be ready to go in time for the 2020 NFL season, says Barstool CEO Erika Nardini. Earlier this year, the regional gaming company paid $163 million in cash and...
Eldorado Wins FTC Approval for $17.3 Billion Caesars Deal, Multiple Divestments Required
The Federal Trade Commission (FTC) is signing off on Eldorado Resorts' (NASDAQ:ERI) $17.3 billion takeover of Caesars Entertainment (NASDAQ:CZR). But the commission is requiring Eldorado to sell gaming properties in the South Lake Tahoe region of Nevada and the Bossier City-Shreveport area...
E*TRADE to Portnoy: ‘Hit the Road, Davey,’ Broker Boots Barstool Boss
Barstool Sports founder David Portnoy is day trading his way into being a cult leader of a youthful rebellion against financial market norms. But his business will no longer be welcome at brokerage firm E*TRADE. With offerings for sports bettors still slim,...
Gaming and Leisure Properties Approved for St. Louis Casino Real Estate Monopoly
The Missouri Gaming Commission (MGC) is reversing its stance from two years ago, making Gaming and Leisure Properties, Inc. (GLPI) the lone landlord for the six casinos in the St. Louis area. On Wednesday, the commission voted 4-1 in favor of allowing...
Mandalay Bay Draws Ire of Religious Leaders Over Foundation Room Statues
UPDATE: The Foundation Room issued a statement after publication of this article, saying it will be “removing the statue Mahavira from our premises” and that it's “ working diligently to ensure such insensitive depictions don’t happen again.” __________________________________________________________________________________________________________________________ Religious leaders from five...
DraftKings Analyst Boosts Estimates, Sees Favorable Legislative Landscape Despite California Setback
In a note to clients today, Canaccord Genuity analyst Michael Graham lifted his second-quarter revenue estimate on DraftKings (NASDAQ:DKNG). He cited better-than-expected stability during the coronavirus economic shutdown and the company's recent capital raise. Last week, the daily fantasy sports (DFS) firm...
Morgan Stanley Anoints Online Casinos, Sports Betting as Prime Post-Virus Investment Themes
Morgan Stanley is out with a list of investment ideas poised to benefit in a post-coronavirus world, and internet casinos and sports wagering make the cut. The bank says the pandemic is causing dramatic alterations in consumer consumption and spending, and that...
