Areas of Expertise
3913 stories by Todd Shriber
DraftKings Rallies on Barclays Upgrade, Bank Sees US Growth Ahead
Shares of DraftKings (NASDAQ: DKNG) surged in early trading Friday, extending a run that’s seen the stock gain more than 10% over the past month. That's after Barclays analyst Brandt Montour upgraded the gaming equity. In a note to clients today, Montour...
Churchill Downs Stock Primed for Upside as New Venues Come Online
Shares of Churchill Downs (NASDAQ: CHDN) closed slightly higher Thursday after the gaming company reported solid fourth-quarter results late Wednesday. But with those numbers in the past, analysts are turning to the operator’s new venues and the potential impact those properties could...
Related Companies New York Casino Pitch Could Run $12B
Related Companies finally provided an update on its plans for a new $12 billion development, including a casino hotel, on the West Side of Manhattan. The $12 billion price tag is well in excess of the $10 billion previously believed to be...
Macau Concessionaires’ Debt Reduction Slow Process, Says Fitch
Macau casino operators should benefit from rising gross gaming revenue (GGR) as tourism to the gaming enclave from mainland China increases. But the process of reducing debt could take a while. That's according to Fitch Ratings, which said more credit upgrades for...
Black Hawk, Colorado, Casino Market Closing In On $1B GGR
The list of the top commercial casino markets in terms of revenue in 2023 largely stayed the same, with Las Vegas again leading the way. But on a list that featured little movement of note, Black Hawk/Central City, Colorado, again stood out....
California Assemblyman Says Sports Betting Runs Through Tribes
It’s a lesson smart commercial companies should have learned in 2022: California gaming expansion, including sports wagering, runs through the state's Native American Tribes. Assemblyman James Ramos (D-San Bernardino), who’s also a member of the San Manuel Band of Mission Indians, reiterated...
Caesars Buys Wynn’s Michigan iGaming Ops, Q4 Earnings Miss
Caesars Entertainment (NASDAQ: CZR) said Tuesday it's acquiring Wynn Resorts’ (NASDAQ: WYNN) Michigan iGaming operating rights, bolstering the buyer’s internet casino footprint in one of the six states that permit that activity. Financial terms of the transaction, which was announced in conjunction...
Intralot May Be Sticking Around Washington, DC Longer Than Hoped
Intralot, which powers Washington, D.C.’s underperforming mobile sports betting application, could remain in the nation’s capitol longer than some members of the city council hoped. The Greek gaming company’s no-bid contract to run the GambetDC app on behalf of DC Lottery is...
Casino CFOs Have Worst C-Suite Job Security in Industry, Survey Says
Chief financial officers (CFOs) are among the highest-ranking executives at any company. But across a variety of industries, occupants of those roles face lower pay than other high-level executives, and substantial job insecurity. That holds true in the casino gaming industry as...
DraftKings Jackpocket Deal Unique but Adds Complexity, Says Analyst
Last week, DraftKings (NASDAQ: DKNG) delivered disappointing fourth-quarter results while lifting 2024 revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) forecasts. Analysts, however, largely focused on the announced acquisition of online lottery provider Jackpocket. DraftKings said it’s paying $750 million...