5136 stories by Todd Shriber
‘Dragon Train’ Injunction Could Pinch LNW Earnings by $70M, Says Analyst
The preliminary injunction requiring Light & Wonder (NASDAQ: LNW) to halt sales and leases of the “Dragon Train” series of slot machines could hit the company’s adjusted earnings before interest, taxes, depreciation, and amortization by approximately $70 million. Macquarie analyst Chad Beynon...
Flutter to Repurchase up to $5B in Stock, Lifts Long-Term FanDuel Outlook
Flutter Entertainment (NYSE: FLUT) introduced medium-term 2027 guidance Wednesday, forecasting better-than-expected growth in North America where its FanDuel unit dominates while telling investors it could repurchase up to $5 billion worth of its shares over the next several years. The Dublin-based gaming...
Fanatics Mulling Equity Sale to Staffers at Discounted $25B Valuation
Fanatics is reportedly considering selling equity to employees at a $25 billion valuation, a hefty discount to the $31 billion the company was valued at following a December 2022 funding round. Citing unidentified sources familiar with the matter, Bloomberg reported Wednesday that...
Marriott, Sands China Announce Londoner Macau Accord
Sands China and Marriott International announced Tuesday that the hotelier will bring the Londoner Grand concept to the gaming company’s London Macau casino resort. The Londoner Grand is the first Marriott Luxury Collection hotel to come to Macau. Previously Sands Cotai Central,...
NY Regulators Rips DraftKings’ Scrapped Surcharge Plan
It took DraftKings less than two weeks to pull the plug on a plan to levy winning sports bets in select high-tax states and it’s a good thing the company did that because had it proceeded, it apparently would have drawn the...
Macau Casino Stocks Rally After PBOC Unveils ‘Policy Bazooka’
Las Vegas Sands (NYSE: LVS) and Wynn Resorts (NASDAQ: WYNN) were among today’s best-performing casino stocks after the People's Bank of China (PBOC) unveiled a series of monetary easing measures that boosted shares of Macau gaming equities. The central bank cut its...
Light & Wonder Stock Tumbles as Aristocrat Wins ‘Dragon Train’ Injunction
Shares of Light & Wonder (NASDAQ: LNW) plunged Tuesday after the company told investors a court granted rival Aristocrat Technologies a preliminary injunction pertaining to Light & Wonder’s “Dragon Train” series of slot machines. In late trade trading, Light & Wonder is...
Wynn New York Casino Plan Draws More Opposition
Opposition to a plan by Related Cos. and Wynn Resorts to bring a casino hotel to the West Side of Manhattan is mounting, with three community groups joining that fray on Monday. Open Plans, Parks & Trails New York, and Save Chelsea...
Cohen, Hard Rock Unveil Renderings for Queens Casino
Steve Cohen and Hard Rock International recently unveiled renderings of the proposed “Metropolitan Park” project, which includes plans for a casino hotel near Citi Field in Queens, NY. The release of the sketches for Metropolitan Park arrived about five months after the...
Golden Entertainment Cooled by Hot Summer, Analyst Still Bullish
This summer was the hottest on record in southern Nevada, prompting some would-be bettors to stay out of locals' casinos and gaming bars in Las Vegas and Laughlin. As a result, B. Riley analyst David Bain lowered estimates on Golden Entertainment (NASDAQ:...
