5359 stories by Todd Shriber
Wynn NYC Casino Opposition Groups Surpasses 5,000 Supporters
“Protect the High Line,” the group opposing the plan by Related Cos. and Wynn Resorts to build a casino hotel on Manhattan's West Side, said its ranks have swelled to over 5,000. The group, which is named for the iconic park it’s...
Sports Betting Would Be Economic Boon for Texas Study Says
Texas is one of 11 states that currently doesn't permit any form of regulated sports betting, but should that change, the second-largest state by area could reap significant economic benefits. In its recently published “Legal Online Sports Betting In Texas: Revenue Forecast...
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...
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...
