5083 stories by Todd Shriber
DraftKings IPO: No Sports, No Problem, as Company Targets April Listing
DraftKings, the daily fantasy sports (DFS) giant and sportsbook operator, isn't letting a nearly non-existent slate of athletic competitions deter its plans of becoming a public company. The Boston-based firm eyes an offering before the end of this month. In December, the...
Galaxy Entertainment, Sands China Best Break Even Bets in Macau, Others Could Bleed Cash, Says Morgan Stanley
First-quarter earnings updates from gaming companies aren't rolling in quite yet. But when those reports arrive, they'll assuredly contain gory details about Macau. Yet Morgan Stanley sees the potential for less bad results from Galaxy Entertainment and Sands China. Because of the...
Former Nevada Gaming Control Chair Bets Regulators Will Approve Eldorado Caesars Takeover
Former Nevada Gaming Control Board Chairwoman Becky Harris believes regulators will sign off on Eldorado Resorts Inc.'s (NASDAQ:ERI) $17.3 billion acquisition of rival Caesars Entertainment Corp. (NASDAQ:CZR). But she didn't offer a guess as to when that might happen. The deal –...
Scientific Games Slides Following Financial Update, Company Slashes $100 Million in Costs
Scientific Games (NASDAQ:SGMS) is following broader equity markets lower Wednesday, even after the slot machine manufacturer and gaming services provider told investors its liquidity position is strong. On Tuesday after the close of US markets, Las Vegas-based Scientific Games joined a growing...
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...
