5037 stories by Todd Shriber
GLP Yanks 2020 Financial Guidance, Citing Coronavirus, Draws $530 Million on Bank Credit Line
Gaming and Leisure Properties (NASDAQ:GLPI) is withdrawing its 2020 financial guidance, citing the impact the coronavirus pandemic is having on the casino industry. The real estate company said it recently drew $530 million on a bank credit line to increase balance sheet...
Gaming and Leisure Properties CEO Carlino Backs up the Bus, Buys $2 Million Worth of Sagging Stock
Gaming and Leisure Properties (NASDAQ:GLPI) Chairman and CEO Peter Carlino is joining other industry executives in supporting stock prices that have been decimated by the coronavirus pandemic. He recently scooped up 80,000 shares, or $2 million worth of the real estate investment...
California Sports Betting Ballot Drive Stuck in Neutral due to Coronavirus Shutdown
California was one of the first large states to employ a shelter-in-place order to combat the spread of the coronavirus, with Gov. Gavin Newsom issuing that directive last Thursday. But that mandate carries with it an unintended consequence: preventing workers from gathering...
Marina Bay Sands Could Experience Singapore Slump as Coronavirus Closures Take Hold
Marina Bay Sands (MBS) and Singapore's other marquee tourist attractions could be in for some near-term pain, as the city-state implements border closures at 11:59 p.m. local time Monday to prevent further spreading of the coronavirus. The border closure is aimed at...
Pechanga Preparing for Lengthier Closure, Staff Reductions Could be Coming in April
The Pechanga Band of Luiseño Indians, the operator of the Pechanga Casino in Temecula, Calif., said it's preparing for a temporary closure announced last week to last longer than previously expected. It added that staff reductions could commence as soon as April....
Gaming REITs Face First Downturn Test as Casino Closures Stoke Rent Questions
Gaming and Leisure Properties, Inc. (NASDAQ:GLPI), MGM Growth Properties (NYSE:MGP), and Vici Properties (NYSE:VICI) – the three gaming real estate investment trusts (REITs) – are facing the specter of operator tenants potentially struggling to make rent on some properties if gaming venues...
Las Vegas Sands, MGM, Wynn, Others Tagged with Negative Credit Outlooks by Standard & Poor’s
Las Vegas Sands (NYSE:LVS), MGM Resorts International (NYSE:LVS), and Wynn Resorts (NASDAQ:WYNN) are among the operators vulnerable to credit downgrades, as the coronavirus imperils the domestic gaming industry, according to new research from Standard & Poor's (S&P). On Friday, S&P shifted the...
Twin River Bolsters Balance Sheet, Prepares for Potentially Long Winter of Casino Closures
Twin River Worldwide Holdings (NYSE:TRWH) is joining rival casino companies in accessing cash, preparing for what could be longer-than-expected gaming property closures. The operator of Rhode Island's two casinos said in a statement out Friday that it fully funded a $250 million...
Marina Bay Sands Implements Social Distancing Measures as Singapore Coronavirus Cases Swell
Marina Bay Sands (MBS) is engaging in the new phenomenon known as social distancing in an effort to prevent the spread of the coronavirus in Singapore while keeping the gaming area at the iconic integrated resort open. Marina Bay Sands Pte Ltd.,...
Macau Table Game Capacity Up to 80 Percent, But Government Slashes 2020 GGR Forecast in Half
Table games at Macau's casinos are now running at 80 percent capacity following a 15-day closure in February. But the Special Administrative Region's (SAR) road back to normalcy is going to take a while after the government slashed its 2020 gross gaming...
