4013 stories by Todd Shriber
Bill Boyd Departs Boyd Gaming Chairman Role
Ending a nearly five-decade run on the board of the casino company he cofounded with his father, Sam, in 1975, Bill Boyd has officially left the Boyd Gaming (NYSE: BYD) board of directors. He had occupied the co-executive chairman role with Marianne...
Red Rock Sitting on Treasure Trove of Stadium Land, Says Analyst
Red Rock Resorts (NASDAQ: RRR) delivered first-quarter results on Thursday. But the company was mostly mum about a potential land sale to Major League Baseball’s Oakland Athletics. Analysts believe the casino operator can wring significant rewards from such a transaction. Less than...
Penn Entertainment Mintzy-Induced Decline ‘Overblown,’ Say Analysts
Penn Entertainment (NASDAQ: PENN) stock slumped more than 13% on Thursday, and its lost market capitalization in dollar terms wasn’t far from what it paid for Barstool Sports. That's as the regional casino operator delivered tepid first-quarter results while enduring a controversy...
Boyd Gaming Reveals New $500 Million Buyback Plan
Boyd Gaming (NYSE: BYD) unveiled a new $500 million share repurchase program on Friday, adding to the regional casino operator’s recent tradition of capital return efforts. The Orleans operator said its board of directors approved the buyback plan. The news arrived in...
Kambi Emerges as Possible Takeover Target
The sports wagering industry is awash in takeover rumors. Add Kambi Group Plc (OTC:KMBIF) to that list, according to one research firm. The Sweden-based gaming technology provider could be an attractive buy for a variety of suitors, noted research firm Eilers &...
DraftKings Soars on Improved 2023 Loss, Revenue Outlook
Shares of DraftKings (NASDAQ: DKNG) surged in Thursday’s after-hours trading session after gaming boosted its 2023 revenue outlook while trimming its expected loss guidance. The Boston-based sportsbook operator raised the midpoint of its 2023 revenue forecast to $3.185 billion from $2.95 billion...
Macau Stock Tumble Vexes Analysts, Revenue Seen Improving in 2023
A recent retreat by previously hot Macau casino equities has analysts scratching their heads, particularly against the backdrop of improving 2023 revenue outlooks for Asia-Pacific gaming operators. In the US, Las Vegas Sands (NYSE: LVS) and Wynn Resorts (NASDAQ: WYNN), which combine...
Sands Announces Restaurants for Long Island Casino, Rao’s Featured Eatery
Las Vegas Sands' plan to bring a casino hotel to Long Island hasn’t officially been approved, but the company just revealed some of the restaurants that will be featured at the venue -- a group to be led by Italian eatery Rao’s....
DraftKings Q1 Update: It’s All About Guidance, Profitability Outlook
DraftKings (NASDAQ: DKNG) stepped into the earnings confessional on Thursday after the close of US markets. With the company already having issued 2023 guidance, analysts and investors will be focusing on any adjustments to those forecasts and the possibility of a shorter...
Expect More Sports Betting Consolidation, Says Morgan Stanley
Speculation regarding sports wagering industry mergers and acquisitions activity, particularly on the operator side, remains intense, and some analysts believe deal-making could perk up as 2023 progresses. In a Monday note to clients, Morgan Stanley analysts observed that over the past seven...
