4488 stories by Todd Shriber
Full House, Golden Entertainment Estimates Pared, Analyst Remains Constructive
The latest issue confounding already sagging casino equities is sell-side analysts revising estimates and price targets lower to reflect the specter of a potential economic slump. That's amid elevated fears of a material pullback in consumer discretionary spending, Analysts aren’t playing favorites,...
Las Vegas Raiders President Sandra Douglass Morgan Departing Caesars Board
Newly appointed Las Vegas Raiders President Sandra Douglass Morgan is leaving Caesars Entertainment’s board of directors. The gaming company revealed the departure in an 8-K filing with the Securities and Exchange Commission (SEC) and clearly notes the decision revolves solely around her...
Genting Has No Good Reason to Sell Singapore Arm, Says Bank
Aside from a one-time cash infusion, Genting Berhad has little reason to divest its Singapore unit, which owns the Resorts World Sentosa integrated resort. That’s the sentiment of analysts at Japanese investment bank Nomura, who in a Monday note say Genting Singapore...
Caesars Estimates Pared Amid Recession Fears, but Risk/Reward Seen as Favorable
Shares of Caesars Entertainment (NASDAQ:CZR) are off almost 59% year-to-date, marking one of the worst showings in the gaming space. That's sparked concerns on Wall Street that the stock is vulnerable to economic contraction and a potential pullback in consumer spending. In...
Red Rock Could Realize Margin Benefit by Closing Three Station Casinos
Red Rock Resorts’ (NASDAQ:RRR) decision to permanently close Fiesta Henderson, Fiesta Rancho, and Texas Station could provide ballast to the operator’s margins. The operator’s decision to permanently shutter the three Station casinos wasn’t surprising, given that the venues had been closed for...
Macau Concessionaires Facing ‘Significant Risks,’ Says Moody’s
On the heels of news that Macau is extending the temporary closure of casinos by another five days, it’s safe to say concessionaires there face considerable operational risk. The new restrictions equal the special administrative region’s second round of casino closures since...
Caesars Could Benefit from Consumer Spending Shift
Caesars Entertainment (NASDAQ:CZR) is among the casino operators that could benefit as consumers direct more discretionary spending toward services away from goods, according to a research firm. During the initial days of the coronavirus pandemic, consumer spending largely focused on goods. Conversely,...
Genting Singapore Says No Takeover Talks Ongoing, Lim Confirms Unsolicited Bid
Genting Singapore, the owner of the Resorts World Sentosa casino-hotel, denies it’s in continuing takeover discussions with potential suitors. But it did confirm the chairman of its parent company received an unsolicited acquisition offer. In a filing today with the Singapore Stock...
Genting Singapore Could Opt for Partial Sale Due to Bond Issues, Says Bank
News that MGM Resorts International (NYSE:MGM) may have held talks with the Lim family about acquiring Genting Singapore is the gaming industry’s epic rumor of the week. But some analysts say the Resorts World Sentosa shouldn’t sell itself outright. The Lims, which...
Amid Hard Rock Transition, Mirage Could Face Lengthy Closure
The Mirage could be slated for an extended, though temporary, closure as it transitions to becoming a Hard Rock casino-resort. In a statement issued earlier this week highlighting its second consecutive year atop the J.D. Power 2022 North America Guest Satisfaction Study,...
