4485 stories by Todd Shriber
Casino Mergers and Acquisitions Could Surge in 2025
Supported by declining interest rates and a more favorable regulatory regime, gaming industry, including casinos, mergers and acquisitions activity could perk up in 2025. That was one of the takeaways from Truist Securities’ recent Wicked Good 12th Annual GLLR Summit in Boston....
Rep. Crenshaw Bought Wynn Stock Before Tilman Fertitta Purchase Made Public
A Texas congressman bought shares of Wynn Resorts (NASDAQ: WYNN) just days before Tilman Fertitta’s stake in the casino operator was made public in October 2022. On Oct. 25, 2022, Rep. Dan Crenshaw (R-TX) purchased between $1,001 and $15K worth of the...
Fitch Affirms SJM Holdings Credit Rating at BB-
The credit rating of Macau casino operator SJM Holdings was affirmed at “BB-“ with a “stable” outlook by Fitch Ratings. That’s three notches into junk territory. While the research firm acknowledged that SJM’s credit grade is supported by an ongoing economic recovery...
JPMorgan Disposes of Star Entertainment Stake
JPMorgan Chase & Co. (NYSE: JPM) is no longer an investor in Australian casino operator Star Entertainment. A regulatory filing with the Australian Securities Exchange (ASX) confirmed that the New York-based bank recently liquidated its stake in Star, which the gaming confirmed...
Crypto.com Dives Into Sports Event Trading
Count Crypto.com as the latest financial services firm to delve into the world of sports event trading. The cryptocurrency brokerage firm said today it launched a sports event trading product that will allow “users of Crypto.com and the Crypto.com app nationwide to...
Churchill Downs Might Come Up Roses in Virginia
The Kentucky Derby -- the marquee event on Churchill Downs’ (NASDAQ: CHDN) annual slate -- is known as “the run for the roses,” but a different rose could be additive to the operators investment thesis. The operator’s recently opened Rose casino hotel...
Flutter Entertainment Refinances Loan, Cuts Interest Expenses
Flutter Entertainment (NYSE: FLUT) said it refinanced $3.885 billion of a term loan issued to the gaming company in November 2023. The move by the parent company of FanDuel -- the largest online sportsbook operator in the US -- results in a...
Golden Matrix Group Restarts Share Buyback Plan
Golden Matrix Group (NASDAQ: GMGI), a developer of online gaming platforms, said Friday that it's restarting a previously announced share repurchase program. The news comes with the stock mired in a slump that’s seen it shed 20.63% of its value over the...
NY Casino Answers Could Bode Well for Genting, MGM
The New York Gaming Facility Location Board (NYGFLB) recently released a wide-ranging set of answers to various questions from groups pursuing the three downstate casino licenses the state is expected to award late next year, and there could be some positive takeaways...
W Hotel Transition at Mandalay Bay Official
That was fast. Less than two months after Marriott International and MGM Resorts International announced a plan to turn the Delano at Mandalay Bay on the Las Vegas Strip into a W hotel, that transition is officially complete. The property now joins...
