5136 stories by Todd Shriber
Rio Owner Dreamscape Cuts Staff at Las Vegas Casino
The Rio Hotel & Casino is going through a reduction in headcount. Owner Dreamscape Cos. confirmed layoffs at the off-Strip property to Las Vegas media on Thursday. New York-based Dreamscape didn't mention a specific number of positions that were eliminated at Rio....
MGM Osaka Building Pause Could Delay Opening, Increase Costs
MGM Resorts International (NYSE: MGM) could face two scenarios it was hoping to avoid in Osaka: a delayed opening date and higher construction costs for its planned casino hotel in Japan’s third-largest city. As widely reported during the years through which MGM...
Endeavor Looking for Buyers for Sports Betting Biz, Including OpenBet
Endeavor Group Holdings, Inc. (NYSE: EDR) is looking to sell its sports betting and data arm comprised of OpenBet and IMG ARENA. The company said those divestments are part of an effort to pat with select assets ahead of the $13 billion...
Penn CEO Quashes Takeover Speculation on Earnings Call
Penn Entertainment (NASDAQ: PENN) delivered second-quarter results earlier Thursday and recent speculation that the regional casino operator is a takeover target was briefly addressed on the company’s conference call with analysts. Regarding consolidation rumors of which their firms at the center, the...
Apollo Seeking $550 Million Venetian Dividend
Apollo Global Management (NYSE: APO) is asking Nevada regulators to approve a $550 million distribution from the Venetian on the Las Vegas Strip, which is operated by the private equity firm. On Wednesday, the Nevada Gaming Control Board (NGCB) approved the payout,...
Sphere Entertainment Lands Upgrade on Potential Economic Resilience
Shares of Sphere Entertainment (NYSE: SPHR) jumped 2.82% on Wednesday after the stock landed an upgrade from Seaport Research. In a note to clients, the research firm upgraded Sphere to “buy” from “neutral” with a price target of $48. That implies upside...
MGM, Red Rock Insiders Buy Stocks Amid Slumps
High-ranking executives at MGM Resorts International (NYSE: MGM) and Red Rock Resorts (NASDAQ: RRR) are buying shares in their companies as the stocks slump. New filings with the Securities and Exchange Commission (SEC) indicate at least three high-level MGM executives recently added...
Wynn Interested in Thailand Casino, Says UAE Resort Rapidly Progressing
Wynn Resorts (NASDAQ: WYNN) today said it would be interested in bidding for a casino permit in Bangkok while noting construction on its integrated resort in the United Arab Emirates (UAE) is progressing at a brisk pace. The Las Vegas-based company previously...
DraftKings Investors Express Dismay About Surcharge Gambit
A significant majority of DraftKings (NASDAQ: DKNG) shareholders aren’t happy about the gaming company’s plan to tax winning sports bets in Illinois, New York, Pennsylvania, and Vermont. That’s according to a recent Jefferies Equity Research report, which noted that 60% of surveyed...
Codere Online Trouncing de-SPACed Gaming Competition
Broadly speaking, it’s been a rough year for gaming equities, including those that came public via reverse mergers with special purpose acquisition companies (SPACs), but Codere Online Luxembourg (NASDAQ: CDRO) stands out. The Spanish sportsbook operator, which went public on Dec. 1,...
