5139 stories by Todd Shriber
MGM Stung by Coronavirus Update, Operator Faces ‘Substantial’ March Losses, No Clarity on Casino Re-Openings
MGM Resorts International's (NYSE:MGM) stock more than doubled off the recently notched 52-week low. But that rally suffered a setback Friday when the company updated Wall Street with a dour outlook on the impact the coronavirus is having on its business. Shares...
Eldorado Has $2.3 Million Reasons a Day to Finalize Caesars Deal
Eldorado Resorts (NASDAQ:ERI) doesn't have time on its side regarding consummation of its $17.3 billion takeover of rival Caesars Entertainment (NASDAQ:CZR). That's because with each day that passes and the deal isn't done, the former must pay the latter $2.3 million. The...
MGM Resorts Joins Parade of Gaming Credit Downgrades as Fitch Lowers to BB-
MGM Resorts International (NYSE:MGM) is joining a growing list of gaming companies seeing their credit grades lowered amid the coronavirus pandemic, with Fitch Ratings trimming the Bellagio operator to “BB-” from “BB.” In downgrading MGM's outlook to “negative” from “stable” – something...
Sheldon Adelson Pushed Congress to Approve Stimulus, But Sands Won’t Receive Aid
Las Vegas Sands (NYSE:LVS) Chairman and CEO Sheldon Adelson used his extensive network of political contacts to press Congress to pass a stimulus package to help industries and workers affected by the coronavirus. But his gaming group won't be the recipient of...
Boyd Casinos Aren’t Only Thing Under Coronavirus Suspension. Now its Dividend Is, Too
Boyd Gaming (NYSE:BYD) is joining the growing list of casino operators looking to conserve cash as the coronavirus hammers the industry. It said Wednesday it's suspending its quarterly dividend and pulling its earnings forecasts for 2020. The announcement, made after the close...
Yokohama Earmarks $3.6 Million in Latest Budget for Integrated Resort Effort
Yokohama's fiscal 2020 budget contains a $3.6 million appropriation for the city's integrated resort ambitions. Japan's second-largest city behind Tokyo is competing with several other large metropolitan areas, including the capitol city and Osaka, to become home to one of the first...
Boyd Gaming Says Casino Closures in Several States Are Being Extended
Boyd Gaming (NYSE:BYD) is telling customers and investors that temporary casino closures in several of its marquee markets will last longer than previously expected, becoming one of the first commercial operators to make such an announcement. It is expected that by Wednesday...
Everi Holdings Pulls 2020 Financial Forecast, Cites ‘Limited Visibility’ on Coronavirus Casino Closures
Everi Holdings (NYSE:EVRI) is joining a growing list of gaming companies in withdrawing 2020 financial guidance due to the impact the coronavirus pandemic is having on the industry. The maker of gaming machines, payment solutions, and software also said it has drawn...
Maddox, Wynn Execs, Board Members Forego Salaries, Bet on Company Stock
Wynn Resorts (NASDAQ:WYNN) board members and high-ranking executives, including CEO Matt Maddox, are betting on themselves and a rebound in the broader gaming industry, agreeing to forego some or all of their cash salaries for the remainder of this year in exchange...
Penn National Gaming Credit Downgrade Not Derailing Epic Stock Rally
Penn National Gaming (NASDAQ:PENN) is extending a jaw-dropping run that has seen the embattled gaming stock more than triple off its 52-week low notched last week, even as Moody's Investors Service lowered the operator's credit rating deeper into junk territory. Battered by...
