4028 stories by Todd Shriber
BetMGM Partnership Unlikely to Be Permanent, Says Entain CEO
Since inception, BetMGM has been a 50/50 joint venture between MGM Resorts International (NYSE: MGM) and Entain Plc (OTC: GMVHY). That will remain the case for the foreseeable future, but a time could come when the partnership dissolves. Entain CEO Jette Nygaard-Andersen...
Gaming Industry Drives $329B in Economic Output, Supports 1.8M Jobs, Says AGA
The domestic casino gaming industry is a powerhouse that accounts for nearly $329 billion in economic activity, according to new research by the American Gaming Association (AGA). In its first deep dive into the industry’s contributions to the US economy since 2018,...
F1 Las Vegas Race Worries ‘Overblown,’ Says Analyst
Formula One Group (NASDAQ: FWONA) stock could be a name to buy as concerns surrounding the series’ upcoming race in Las Vegas are overdone. That’s the take of Citigroup analyst Jason Bazinet. In a new report to clients, he upgraded the stock...
Macau Average Premium Mass Wager Trending Higher
In what could be good news for Macau casino operators, the average wager placed by premium mass bettors visiting the gaming enclave is flirting with record highs. Citigroup’s latest survey of Macau wagering trends, conducted on Oct. 5, confirmed the average bet...
MGM Cyberattack Damage Confined to Q3, Says Analyst
The financial impact of the recent cyberattack suffered by MGM Resorts International (NYSE: MGM) will likely be confined to the third quarter. The avenues are available for the casino operator to repair the damage done to its stock price. That’s the take...
Howard Hughes Holdings Planning New Las Vegas Strip Casino
Howard Hughes Holdings (NYSE: HHH) announced the creation of Seaport Entertainment -- a unit of the company that will control its Las Vegas and New York entertainment assets, potentially including a new Strip casino resort. The newly formed entity will control Howard...
MGM Didn’t Pay Hackers, Suffered Financial Consequences
MGM Resorts International (NYSE: MGM) reportedly refused the hackers that recently executed a ransomware attack on its US operations and will suffer a significant reduction in third-quarter earnings as a result. On Thursday, the Bellagio operator warned investors its third-quarter earnings before...
MGM Expects $100 Million Q3 Earnings Ding Due to Ransomware Attack
Shares of MGM Resorts International (NYSE: MGM) traded slightly lower in Thursday’s after-hours session after the casino operator said it expects third-quarter earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) to be trimmed by $100 million due to...
Florida Flop: Single-License Model Could Dampen Sports Betting Revenue
When mobile sports wagering goes live in Florida, it’s likely to be exclusively controlled by Hard Rock International. That could limit revenue generation in the state, according to a sell-side analyst. In a note to clients on Thursday, JMP Securities analyst Jordan...
Clorox Expects Q1 Loss Following Attack by Caesars, MGM Hackers
Shares of consumer staples giant Clorox (NYSE: CLX) are lower by nearly 9% in midday trading Thursday. That's after the company warned investors it expects to report a fiscal first-quarter loss following a recent cyber attack. While the company behind the Brita,...
