5082 stories by Todd Shriber
Disney Holds Six Percent DraftKings Stake, Viewed as Passive Investor for Now
Walt Disney (NYSE:DIS) owns six percent of newly public DraftKings (NASDAQ:DKNG), but the entertainment giant's stake in the sportsbook operator is viewed as passive for the time being. A recent Schedule 13G filing with the Securities and Exchange Commission (SEC) made by...
MGM Earnings Sag on Virus Woes, Company Slashes Dividend by 98 Percent, Sees Bellagio Among First Reopenings
MGM Resorts International's (NYSE:MGM) first-quarter earnings drastically slid, as temporary closures and travel controls forced by the coronavirus stoked a 29.2 percent year-over-year decline in revenue. But the company did provide some clarity on which of its Las Vegas Strip venues will...
Twin River Finds Another $275 Million in Financing, Firms Balance Sheet for Recent Deals
Twin River Worldwide Holdings (NYSE:TRWH) is expanding its bank loan capacity by $275 million, bringing more cash onto its balance sheet to finance a series of recently announced acquisitions. The gaming company said it expects to be funded on May 11. The...
DraftKings Lands Morgan Stanley Coverage, Bank Sees ‘Best-in-Breed’ Sports Betting Opportunity
Newly public DraftKings (NASDAQ:DKNG) is trading modestly higher Thursday after Morgan Stanley initiated coverage of the daily fantasy sports (DFS) behemoth and sportsbook operator with an “outperform” rating and a $23 price target. That price target from analyst Thomas Allen implies upside...
Gaming Real Estate Is Way to Play Casino Rebound, Says Analyst
Gaming and Leisure Properties (NASDAQ:GLPI), MGM Growth Properties (NYSE:MGP) and Vici Properties (NYSE:VICI) comprise the publicly traded universe of domestic gaming real estate assets. Those names could be investors' preferred avenues for wagering on the industry's post-coronavirus resurgence, according to one analyst....
Boyd Gaming Bounces Despite Ugly Q1, Analyst Sees ‘Compelling’ Long-Term Opportunity
Boyd Gaming (NYSE:BYD) is rallying Wednesday, trading higher by 2.34 percent even after the company reported an unexpected adjusted first-quarter loss. But the stock may be getting some support from bullish analyst commentary. The operator of The Orleans and Sam's Town in...
Blackstone Gobbles Up 10 Percent of Crown Resorts, Melco Sells Stake at Big Loss
Private equity colossus Blackstone (NYSE:BX) continues forging into the gaming business. The company is taking a nearly 10 percent stake in Australia's Crown Resorts, and is getting those shares from Melco Resorts & Entertainment (NASDAQ:MLCO) at a deep discount. The private equity...
San Manuel Again Extends Closure Even as San Bernardino County Coronavrius Death Toll Steadies
San Manuel Casino, one of the giants of Southern California's tribal gaming landscape, is extending its coronavirus-induced closure for a third time. That's even as the fatality toll from the respiratory illness steadies in the gaming property's home county. The San Manuel...
Wynn Resorts Earnings Estimates Are All Over the Place
With the coronavirus outbreak still weighing on the gaming industry, it's not surprising that analysts are divided on how the health crisis is affecting individual operators' financial results. But when it comes to Wynn Resorts (NASDAQ:WYNN), there's nothing close to a consensus....
Melco Resorts Issues Grim Forecast on Coronavirus Impact
Melco Resorts & Entertainment (NASDAQ:MLCO) said the coronavirus pandemic is having a material impact on its operations, the bulk of which are in Asia – one of the regions most hard hit by the respiratory illness. The operator of Altira Macau and...
