4736 stories by Todd Shriber
IGT Upgraded on Constructive Lottery Outlook
Shares of International Game Technology (NYSE: IGT) rallied Thursday after the stock landed an upgrade based on its lottery exposure and reduced risks in Italy. In a note to clients, Stifel analyst Jeffrey Stantial moved IGT to “buy” from “hold” while boosting...
Fontainebleau Las Vegas Joins Amex Platinum Hotel Program
Fontainebleau Las Vegas has a new avenue for attracting well-heeled customers as the Strip casino resort is now part of the American Express Fine Hotels and Resorts (FHR) program. The newest integrated resort in the US casino center made the announcement Wednesday...
DraftKings’ Illinois-Induced Sell-Off Exaggerates Contagion Risk, Says Analyst
Shares of DraftKings (NASDAQ: DKNG) dipped slightly on Wednesday following a Tuesday tumble caused by news that Illinois will implement a progressive sports wagering tax that will saddle the largest operators by revenue with the biggest tabs. That means DraftKings and FanDuel...
Okada Manila Mulling Philippines IPO
Okada Manila, the Philippines casino resort controlled by Japan’s Universal Entertainment, is reportedly mulling an initial public offering (IPO) that values the entity at $500 million to $750 million. Should Universal Entertainment proceed with those plans, it could list shares of the...
DraftKings Reportedly Eyeing Simplebet Acquisition
DraftKings (NASDAQ: DKNG) is said to be close to acquiring micro-betting provider Simplebet in a transaction that could value the target at $120 million to $170 million. Earnings + More broke the news, citing unidentified sources familiar with the matter. As of...
Queens Casino Proposal on Life Support as Ramos Balks at Gaming Venue
Efforts by New York Mets owner Steve Cohen and Hard Rock International to bring a casino hotel to the area near Citi Field may be on life support after State Sen. Jessica Ramos (D-Queens) announced Tuesday that she won't support legislation to...
DraftKings, Flutter Tumble as Illinois Advances Sports Betting Tax Hike
On news that the Illinois Senate approved a budget that includes a near tripling of the state’s tax rate on regulated sportsbook operators, shares of DraftKings (NASDAQ: DKNG) and Flutter (NYSE: FLUT) tumbled Tuesday. In the first trading day since the fiscal...
Pretlow Says It’s Time for New York to Realize Casino Revenue Benefits
New York Assemblyman Gary Pretlow (D-Mount Vernon) believes it’s time for the state to put the pedal to the metal when it comes to realizing benefits from casino gaming in the New York City area. It’s been two years since New York...
DraftKings, Red Rock Resorts Among Gaming Companies Tapping AI
Gaming companies are increasingly deploying artificial intelligence (AI) in a variety of ways, confirming the industry could be a dedicated, long-term adopter of the disruptive technology. In a recent report to clients, Jefferies analyst David Katz highlighted DraftKings (NASDAQ: DKNG), Light &...
New York Tough Place for Sportsbook Operators to Turn Profits
With the state’s 51% tax on sports wagering, it’s hard for sportsbook operators to generate profits in New York and that’s one reason gaming companies are increasingly tight-fisted with promotions in the state. In a recent report to clients, Deutsche Bank analyst...
