4975 stories by Todd Shriber
VICI Makes Jump to IG Status Following Moody’s Upgrade
Casino landlord VICI Properties (NYSE: VICI) landed another investment-grade credit rating after Moody’s Investors Service upgraded the real estate investment trust (REIT) on Monday. In a report out on Monday, the agency lifted its rating on the Caesars Palace owner to “Baa3”...
Sportsbook Betting Pauses on College Games Last Longer Than Those on NFL Games
It’s common for sportsbook operators to temporarily pause acceptance of wagers on certain games if large, odds-altering money has come in on those contests. There’s no uniformity for how long these halts last, but recent trends suggest pauses on college football games...
Cisco, MGM Reach Wide-Ranging Technology Agreement
Cisco (NASDAQ: CSCO) and MGM Resorts International (NYSE: MGM) today announced an expansive technology agreement under which the casino operator gains access to much of Cisco’s software portfolio, including tools aimed at enhancing customer experiences. The companies said the contract spans 5.5...
FanDuel, MLBPA Settle NIL Suit
The Major League Baseball Players Association (MLPBA) settled litigation with FanDuel over the sportsbook operator’s alleged unauthorized use of union members’ name, image, and likeness (NIL). In September, the union representing the league’s athletes sued multiple sports wagering companies in New York...
Fertitta Unlikely to Pursue Wynn Takeover, Says Analyst
Tilman Fertitta increased his stake in Wynn Resorts (NASDAQ: WYNN) to nearly 10% of the shares outstanding, but one analyst believes the Golden Nugget chief executive officer is unlikely to purse an acquisition of his rival. In a new report to clients,...
Long Island Casino Environmental Review to Be Released
An environmental impact study regarding Las Vegas Sands’ proposal to build a casino hotel at Nassau Veterans Memorial Coliseum in Uniondale, NY could soon be released. On Wednesday, the Nassau County Legislative Rules Committee unanimously voted to release the environmental impact study,...
DraftKings SPAC Boss Dumps 250K Shares
Harry Sloan, one of the founders of the blank-check company that brought DraftKings (NASDAQ: DKNG) public, sold 250K shares of the gaming company. That sale occurred on Tuesday, according to a Form 4 filed with the Securities and Exchange Commission (SEC) late...
Tiger Global Initiates Flutter Stake, Einhorn Adds to Penn Position
Despite the stock being down 19.52% year to date, Penn Entertainment (NASDAQ: PENN) was among the positions David Einhorn’s Greenlight Capital added to during the third quarter. A new 13F filing with the Securities and Exchange Commission (SEC) indicates Einhorn’s hedge fund...
Thailand Casino Market Could Top Singapore, Analysts Say
When Thailand’s casino market reaches maturity, it could generate annual gross gaming revenue (GGR) exceeding Singapore, putting the country on pace to become the third-largest gaming jurisdiction in the world. That’s the take of Citi analysts George Choi, Preenapa Detchsri, and Timothy...
Tilman Fertitta Ups Wynn Resorts Stake to Nearly 10%
Shares of Wynn Resorts (NASDAQ: WYNN) soared Thursday after it was revealed Tilman Fertitta boosted his stake in the casino operator to 9.9%. In midday trading, Wynn was almost 9% higher on volume that was more than double the daily average after...
