5083 stories by Todd Shriber
Macau Operators Could Experience April Showers With GGR Falling 95 Percent, According to Estimate
Just a week into April and it's already becoming clear that the first four months of 2020 could be one of the worst on record for Macau casino operators, with one research firm forecasting a 95 percent drop in gross gaming revenue...
Caesars, MGM Could Put the Hurt on Short Sellers if Bulls Seize Control of Market
Broadly speaking, shorting stocks is a winning strategy to this point in 2020, and nowhere is that more true than the travel and leisure industry, a group beset by savage declines at the hands of the coronavirus pandemic. With COVID-19 punishing the...
Macau Operators Need Daily Revenue of $38 Million to Break Even This Year, According to Analysts
Macau's six concessionaires can likely break even on an earnings before interest, taxes, depreciation and amortization (EBITDA) basis this year with $38.18 million in daily revenue. But getting to cash flow breakeven will be trickier, said JPMorgan analysts. The bank's research team...
Singapore Casinos Join Coronavirus Closure Cadre, Shuttering Through May 4
Marina Bay Sands (MBS) and Resorts World Sentosa – Singapore's two integrated resorts – will close starting April 7 through May 4, as the city-state bolsters its efforts to ward off the coronavirus. The Ministry of Health announced the measure, and the...
Wynn Debt Covenant Request Tolerable, but Analyst Sees Chance of Q2 Dividend Suspension
Wynn Resorts (NASDAQ:WYNN) and its Macau unit probably won't encounter issues when asking lenders to relax debt covenants, assuming the company does so. But the operator could suspend its second-quarter dividend in order to save cash. With the coronavirus outbreak forcing a...
San Manuel Pushes Temporary Closure Through April 30, Promises no Layoffs
For a second time, the San Manuel Band of Mission Indians is extending the closure of its eponymous Southern California gaming property, citing the need to protect the surrounding community and employees amid the coronavirus contagion. In mid-March, San Manuel joined rival...
Nevada Approves eNASCAR Betting as Penn, Barstool Bring iRacing Series to Finish Line App
Like every other sport in the US, NASCAR is frozen because of the coronavirus outbreak. But its fans are enjoying an outlet in the form of esports, and now bettors can get in on the action after the Nevada Gaming Control Board...
Eldorado ‘Ultimate Risk/Reward’ Story Among Gaming Stocks, Could More Than Triple, Says Analyst
Few gaming stocks have been bludgeoned as badly this year as has Eldorado Resorts, Inc. (NASDAQ:ERI). But even with all domestic casinos still closed, analysts are defending the Caesars Entertainment (NASDAQ:CZR) suitor, saying the regional gaming company's stock offers significant upside from...
William Hill Credit Rating Lowered, Coronavirus Culprit Hits Gaming Industry Again
William Hill saw its credit rating lowered further into non-investment grade territory. Moody's Investors Service downgraded the British bookmaker to Ba3 from Ba1, while placing the company on review for additional reductions. UK-based sportsbook operators Flutter Entertainment, GVC Plc, and William Hill...
Macau Resists Closing Casinos Second Time, Will Press Beijing to Lift IVS Freeze
With the coronavirus outbreak forcing an array of travel restrictions, visits to Macau are falling to rock- bottom levels. But officials in the Special Administrative Region (SAR) aren't mulling a second round of casino closures. Rather, lawmakers there are planning to press...
