5402 stories by Todd Shriber
Wynn UAE Casino to Benefit from Demographics, Taxes, Says JPMorgan
Wynn Resorts' (NASDAQ: WYNN) integrated resort in the United Arab Emirates (UAE) is poised to benefit from attractive demographics and a favorable tax regime, according to JPMorgan analysts. In a new report to clients, analysts led by Joseph Greff noted that Wynn...
Caesars Cash Flow, Debt Reduction Stories Intact, Says Analyst
The ability to boost free cash flow while slashing debt are widely viewed as two of the primary reasons to consider shares of Caesars Entertainment (NASDAQ: CZR). One analyst says those factors are still at play. In a new note to clients,...
Red Rock Stock Could Feel Election Impact, Says Analyst
Shares of Red Rock Resorts (NASDAQ: RRR) have recently scuffled, shedding almost 10% over the past 90 days. That could be the result of weak seasonality stemming from 2024 being a presidential election year. In a new report to clients, Deutsche Bank...
Hard Rock Could Work with DraftKings, FanDuel in Florida
Hard Rock International currently holds a monopoly on regulated sports betting in Florida, but Chairman Jim Allen said the tribal gaming giant could consider working with industry leaders DraftKings (NASDAQ: DKNG) and FanDuel in the state. In an interview with CNBC’s Contessa...
Light & Wonder ‘Dragon Train’ Decline Overdone, Stock Cheap, Says Analyst
Shares of Light & Wonder (NASDAQ: LNW) tumbled last week following a legal ruling pertaining to its “Dragon Train” series of slot machines, but one analyst argues the decline was too much, too soon, and that the stock is undervalued. In a...
Wynn UAE Casino Could Drive $350M in Cash Flow, Says Analyst
Wynn Resorts’ (NASDAQ: WYNN) recently approved casino resort in the United Arab Emirates (UAE) could be a significant contributor to the operator’s long-term free cash flow. In a new report to clients, CBRE Equity Research analyst John DeCree estimates that at maturity,...
Penn Entertainment Lifts Guidance for Interactive Unit
Penn Entertainment (NASDAQ: PENN) told investors Monday that its interactive unit, which includes ESPN Bet, will post a lower-than-expected third-quarter loss. In a Form 8-K filing with the Securities and Exchange Commission (SEC), the regional casino operator said its digital gaming business...
Flutter Buyback Shouldn’t Imperil Credit Rating, Says Moody’s
Flutter Entertainment’s (NYSE: FLUT) recently announced that plans to repurchase up to $5 billion of its shares over the next several years are unlikely to endanger its credit rating. That’s the take of Moody’s Investors Service, which rates the FanDuel parent “Ba1,”...
JPMorgan Buys Big Voting Block of Star Entertainment Shares
JPMorgan Chase & Co. (NYSE: JPM) acquired a sizable equity stake in downtrodden Australian casino operator Star Entertainment. According to a recent filing with Australian securities regulators, the New York-based bank purchased 5.47% of the gaming company’s voting equity. News of the...
Light & Wonder CEO Says Company Pulling ‘Dragon Train’ Slots in North America
Shares of Light & Wonder (NASDAQ: LNW) jumped 4.39% on above-average volume Friday after CEO Matt Wilson updated investors on the company’s next steps relating to “Dragon Train” litigation. In late September, Aristocrat Technologies won a preliminary injunction that bars Light &...
