5083 stories by Todd Shriber
People’s Bank of China Boosts Macau Remittance Cap, Move Could Benefit Gaming Companies
The People's Bank of China (PBOC), that country's central bank, said Wednesday it's increasing the daily limit on money transfers from Macau to the mainland. It's a move that could eventually prove beneficial to the peninsula's six gaming concessionaires. PBOC said the...
Norfolk Pushes Pamunkey to go Commercial While Scaling Back Original Estimates for Casino Project
At a public hearing earlier this week, Norfolk, Va. Mayor Kenny Alexander (D) announced significant alterations to the city's effort to become home to a casino. That included plans to require the Pamunkey Indian Tribe to open a commercial, not a tribal,...
Wynn Resorts Extends CEO Maddox Through End of 2022, Alters Stock Compensation to Performance-Based
Wynn Resorts, Ltd. (NASDAQ:WYNN) said its board of directors unanimously voted to extend CEO Matt Maddox's employment contract through the end of 2022. His initial employment agreement had a termination date of Feb. 27, 2021, but that has been amended to Dec....
Pansy Ho Continues Reducing MGM Resorts Investment, Stake Down to 1.78 Percent Following Latest Sales
Pansy Ho, the eldest daughter of Macau gaming mogul Stanley Ho, continues paring her stake in MGM Resorts International (NYSE:MGM). From Nov. 26 through Dec. 12, Ho sold nearly 2.45 million shares worth of the Las Vegas-based integrated resort operator, according to...
Hard Rock International Not Done Trying to Roll in Hokkaido
In November, Hokkaido Governor Naomichi Suzuki said his prefecture was withdrawing from the competition to become home to an integrated resort, leaving some operators in the lurch. Others remain focused on bringing a gaming property to the region in Northern Japan, including...
Las Vegas Sands, Wynn Resorts Projected to be Winners as Macau Rebounds in Second Half of 2020
Investors looking to prepare for a possible rebound in Macau's gross gaming revenue (GGR) in the back half of 2020 can do some early shopping by considering two of the peninsula's biggest operators – Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN)....
Star Entertainment to Aussie Government: You Want Gold Coast Investment, We Want Exclusivity
Star Entertainment Group wants to invest $1.37 billion ($2 billion in Australian dollars) to refurbish its Gold Coast gaming property, hotel and convention center, and the company is playing hardball with the Queensland government when it comes to that expenditure. In exchange...
Hedge Funds Dumped Boyd Gaming Right Before Shares Hit the Jackpot
Even the pros make mistakes, and that appears to be the case with some hedge funds with regards to Boyd Gaming Corp. (NYSE:BYD) stock. Shares of the operator of a dozen Las Vegas casinos are up nearly 43 percent this year, making...
Macau Visits Probably Won’t Reach 40 Million This Year, 2020 First Half Will be Rough, Too
Macau's tourism data dipped in November and visits are expected to tumble again this month, making it unlikely that 40 million travelers will have come to the Special Administrative Region (SAR) this year. Officials are forecasting a dip in visits in the...
Hedge Funds Are Starting to Roll With Red Rock Resorts Stock Again
After a poor start to 2019, including a nasty tumble that lasted for much of the second and third quarters, Red Rock Resorts, Inc. (NASDAQ:RRR) is cobbling together some momentum. The Palms operator's recent gains validate intrepid investors' thesis that the stock...
