5361 stories by Todd Shriber
US Sports Betting Market Will Be 90 Percent Online and Mobile Within a Decade, Industry Experts Assert
Mobile devices and the internet will be the dominant avenues for bettors looking to access the growing US sports wagering market. According to an Associated Press (AP) report that came out of the East Coast Gaming Congress in Atlantic City this week,...
Hedge Funds Losing Love for Las Vegas Sands, Casino Operator’s Stocks Falling from Favor
Las Vegas Sands Corp. (NYSE: LVS) is the largest US casino operator by market value, but the stock's popularity is declining in the hedge fund community. Hedging Their Bets At the end of the first quarter, 37 hedge funds held shares of...
MGM Resorts Sees Director’s Hedge Fund Corvex Management Bump Up Shares
MGM Resorts International Director Keith Meister’s Corvex Management recently added to its stake in the gaming operator that owns the Bellagio and 13 other Las Vegas Strip casinos and hotels. Corvex Management, a New York-based activist hedge fund, paid $75.2 million to...
Pennsylvania Could Approve Penn National Morgantown Mini-Casino This Week
Pennsylvania regulators could approve Penn National Gaming Inc.'s plans for a mini-casino in Morgantown as soon as this week. The Pennsylvania Gaming Control Board (PGCB) could give the go ahead for the $111 million project at its Wednesday, June 12 meeting in...
Boyd Gaming Raises Dividend by 16.7 Percent: More Than Double Expected Payout Growth Rate For 2019 S&P 500
Boyd Gaming Corp. (NYSE: BYD), which owns the Gold Coast and the Orleans casinos in Las Vegas, is rewarding long-term investors by boosting its quarterly dividend to seven cents per share, up from six cents. The new dividend will be payable on...
Swiss Officials Approve Online Gaming License for Grand Casino Luzern
Grand Casino Luzern won permission from the Swiss Federal Council to open an online casino later this summer. An effort to legalize online gaming in Switzerland started nearly four years ago, but regulations governing Internet-based wagering there did not go into effect...
Genting Singapore’s Strong Finances Could Be Advantageous in Japan
Genting Singapore Ltd. is one of seven major casino operators vying for one of Japan's coveted gaming licenses. The group's strong balance sheet could be an advantage in that quest. Maybank Kim Eng Holdings Ltd regional gaming analyst Samuel Yin Shao Yang...
Churchill Downs Stock Upgraded as Analyst Sees Benefits from Illinois Gaming Bill
Shares of Churchill Downs Inc. (NASDAQ: CHDN) surged 6.1 percent Wednesday to close at $109.07 with volume more than double its daily average after Tesley Advisory Group analyst Brian McGill upgraded the stock, noting the company stands to benefit from the recently...
Scientific Games Attracts Attention of Bullish Options Traders
Shares of Scientific Games Corp. (NASDAQ: SGMS) closed slightly higher Tuesday, extending the stock's winning streak to five days and its gain over the past week to nearly 12 percent. The stock's recent run appears to be luring options traders betting on...
Norwegian Pension Fund Sheds Gaming Stocks from Portfolio
Kommunal Landspensjonskasse (KLP), Norway's largest pension fund, said it will ditch its investments in alcohol companies and casino operators as part of its ongoing effort to align its portfolio with environmental, social, and governance (ESG) investing principles. KLP, which is the pension...
