5034 stories by Todd Shriber
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...
Tennis Targeted by Alleged Match Fixers as Coronavirus Suspension Drew Near
Corrupt gamblers looking to exploit a looming suspension forced by the COVID-19 outbreak allegedly targeted lower level tennis tours in the first three months of this year, according to new data from the Tennis Integrity Unit (TIU). In a report out earlier...
Wynn Macau Still Bleeding Cash, Forecasts Massive Q1 EBITDA Decline
Wynn Macau continues losing money, although casinos in the world's largest gaming center are open for business. The company expects the cash burn will continue as long as protocols implemented as a result of the coronavirus outbreak remain in place. Like other...
Boyd Furloughing Most Staff on April 11, Execs Taking Pay Cuts as Company Grapples With Coronavirus Closures
Boyd Gaming (NYSE:BYD) will furlough most of its workforce starting Saturday, April 11, as the Sam's Town operator looks to cut costs. All of its gaming venues remain shuttered because of the coronavirus outbreak. Like other gaming companies, Boyd has been subject...
Wynn Resorts Wins After Highlighting $3 Billion of Liquidity, Boosted Bond Offering
Shares of Wynn Resorts (NASDAQ:WYNN) are higher by almost six percent in midday trading after the gaming company said it has approximately $3 billion worth of liquidity. That gives it 1.4 years worth of coverage for property operating expenditures and cash interest...
