5217 stories by Todd Shriber
Wynn CEO Maddox Pitches COVID-19 Plan, Pushes Sisolak to Mull May Strip Reopening
Wynn Resorts CEO Matt Maddox has some ideas for how Nevada's economy can move forward in the face of the COVID-19 pandemic, and is pushing Gov. Steve Sisolak to consider reopening parts of the Las Vegas Strip as soon as next month....
MGM China Has Resources to Last 15 Months, Don’t Bet on Parent Selling Stake, Say Analysts
MGM China, the Macau gaming business majority owned by MGM Resorts International (NYSE:MGM), has the financial resources to survive up to 15 months if scant visitation to the Special Administrative Region (SAR) lingers. But don't bet on the parent company selling its...
Full House Resorts Has Cash to Survive COVID-19 Shutdown, Eyes Colorado, Indiana Sports Betting Revenue
Full House Resorts (NASDAQ:FLL), the operator of five casinos in four states, said its cash burn rate is slowing. That's following staff furloughs, and it claims enough liquidity to survive several more months if gaming properties remain closed because of the coronavirus....
Las Vegas Sands Dividend Damned by Coronavirus, Adelson Says Balance Sheet Is Strong
Las Vegas Sands (NYSE:LVS), the largest US gaming company by market value, is suspending its dividend, citing the adverse impact the coronavirus outbreak is having on integrated resort operations. The Venetian and Palazzo operator is the second domestic gaming company to halt...
Vici Yanks 2020 Guidance, Working with Tenants, But Has Cash for Eldorado Deal
Citing the COVID-19 pandemic, Vici Properties (NYSE:VICI) said late Thursday it's pulling its 2020 financial guidance, but noted it has the liquidity to complete a previously announced transaction with Eldorado Resorts (NASDAQ:ERI). When Eldorado revealed last June that it's buying Caesars Entertainment...
Genting Singapore Joins Legion of Operators Pursuing Yokohama License
Genting Singapore Ltd. is joining a group comprised of some of the gaming industry's biggest names in pursuing a license to operate an integrated resort in Yokohama, according to a new regulatory filing. News of the company's interest in Japan's second-largest city...
Wynn Resorts Gets Some Financial Flexibility From Lender Deutsche Bank
Wynn Resorts (NASDAQ:WYNN) is getting some flexibility on its credit agreement with Deutsche Bank. The company is gaining a covenant relief period to potentially avoid default, as domestic gaming operators contend with what is becoming a lengthy temporary closure period forced by...
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 –...
