5135 stories by Todd Shriber
Wynn Says UAE Casino Hotel is More Than Half Complete
Wynn Resorts (NASDAQ: WYNN) announced Thursday that as measured on the basis of structural concrete, its Al Marjan Island casino resort in the United Arab Emirates (UAE) is 55% complete. Wynn Al Marjan Island is located in the emirate of Ras Al...
IGT Discloses Cybersecurity Incident, Financial Impact Not Clear
Shares of International Game Technology (NYSE: IGT) traded lower on Wednesday after the lottery giant announced late Tuesday that it was the victim of a cybersecurity incident. In a Form 6-K filing with the Securities and Exchange Commission (SEC), IGT said that...
Las Vegas Locals Casino Market Masking Weaknesses, Says Analyst
On the surface, the Las Vegas locals' gaming market appears solid. Year to date, gross gaming revenue (GGR) is up 6%, which has prompted sell-side analysts to wax bullish on Boyd Gaming (NYSE: BYD) and Red Rock Resorts (NASDAQ: RRR), but at...
Gaming and Leisure Upgraded on Pipeline, Rate Outlook
Casino landlord Gaming and Leisure Properties (NASDAQ: GLPI) traded slightly higher Wednesday after an analyst upgraded the stock. In a new report to clients, Deutsche Bank analyst Carlo Santarelli upgraded the real estate investment trust (REIT) to “buy” from “hold” while boosting...
Bally’s Investors Approve Standard General Takeover
Bally’s (NYSE: BALY) announced Tuesday that its shareholders approved a previously announced takeover by Standard General, the hedge fund that’s the biggest investor in the regional casino operator. In March, Standard General, which is controlled by Bally’s Chairman Soo Kim, floated a...
Las Vegas Sands Seeking $9 Billion Loan for Singapore Expansion
Las Vegas Sands’ (NYSE: LVS) Marina Bay Sands is rumored to be seeking a $9 billion loan to pay for expansion plans at the prestigious Singapore casino resort. Should the operator procure financing at or close to that amount, it would be...
Codere Online Files Appeal on Nasdaq Delisting Ruling
Codere Online Luxembourg (NASDAQ: CDRO), the online betting arm of Spanish gaming giant Codere, said it received a delisting notice from the Nasdaq Stock Market, adding it filed an appeal of that decision. Delisting of stocks from major exchanges often occurs due...
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...
