5218 stories by Todd Shriber
It’s On: Vora Initiates Proxy War Against Penn Entertainment
Hedge fund officially declares proxy war against casino company Vora urges investors to vote for its directors slate Says Penn has destroyed shareholder value In a widely expected move, HG Vora filed a definitive proxy statement against Penn Entertainment (NASDAQ: PENN), making...
Tariff Tumult: Casino Stocks Among Most Shorted S&P 500 Names in April
“Liberation Day” encouraged shorting of casino stocks Caesars, MGM among favorite targets Gaming equities now pinching bearish traders Immediately following “Liberation Day” on April 2, bearish traders laid into casino stocks, making several among the shorted names in the S&P 500. Now,...
Adelson-Owned Mavericks Win NBA Draft Lottery
Team faced long odds of landing top pick Likely to select Cooper Flagg of Duke Second draft under Adelson/Dumont ownership The Dallas Mavericks -- the NBA franchise owned by Las Vegas Sands’ (NYSE: LVS) largest shareholder and one of the company’s highest-ranking...
Wynn Could Fetch $1 Billion in Vegas Land Sale, Says Analyst
Company hasn't said Las Vegas land is for sale Property was highlighted on recent earnings call Analyst says it could be a “prudent” move Should Wynn Resorts (NASDAQ: WYNN) opt to sell its currently undeveloped 38 acres of Las Vegas Strip land,...
Century Casinos Will Soon Buy Back Stock
Regional casino operator will commence buyback plan in coming weeks Could be in the millions of dollars Perhaps signaling to investors it sees value in its battered stock, Century Casinos (NASDAQ: CNTY) announced today it will soon commence a share repurchase program....
DraftKings PT Cut by Macquarie, Still Compelling Idea
Price target lowered following tepid Q1 results, but analyst is still bullish Overall performance still solid Shares of DraftKings (NASDAQ: DKNG) rallied Monday, following other gaming stocks higher on news that the US and China made some progress on trade talks, fighting...
Sphere Stock Deeply Discounted, But Laden with Potential
Sphere Entertainment market cap doesn’t reflect opportunity set “Dolan discount” seen as partial culprit Wall Street believes shares are cheap Even with a nearly 16% gain this week, shares of Sphere Entertainment (NYSE: SPHR) are off 19.37% year-to-date -- a decline some...
NCAA Could Soon Lift Prohibition on Professional Sports Betting
NCAA currently bars athletes, coaches from betting on pro sports Reversal of policy could arrive as soon as June As legal sports wagering has expanded in the US following the 2018 Supreme Court ruling on the Professional and Amateur Sports Protection Act...
Melco Says City of Dreams Manila Review Advancing
Company says process to dispose of interest in Philippines casino is progressing No firm timeline given for official announcement Melco Resorts & Entertainment (NASDAQ: MLCO) noted incremental progress has been made on the operator’s strategic review of alternatives for its City of...
Zero Edge Founder Kim Charged by SEC in Crypto Casino Fraud
He lost an estimated $3.7 million in investor capital on betting, crypto trading He previously admitted to problematic wagering habits The Securities and Exchange Commission (SEC) formally charged the founder of a cryptocurrency casino with fraud after he squandered $3.77 million in...
