4283 stories by Todd Shriber
Wynn Las Vegas Strikes $130M DOJ Settlement, Largest Fine Ever for a US Casino
The Department of Justice (DOJ) and Wynn Resorts (NASDAQ: WYNN) announced late Friday that the gaming company’s Wynn Las Vegas unit agreed to forfeit $130.13 million to the government to settle claims the casino operator worked with unregulated money transfer enterprises to...
Thailand Casino Plan Gains Momentum as Political Support Increases
Despite recent political upheaval in the country, plans to bring casino resorts to Thailand are gaining momentum. That effort recently gained the support of the nation’s various political parties. Thailand’s Deputy Finance Minister Julapun Amornviva said the country’s new government is behind...
Wynn UAE Casino Plan Building Momentum
Wynn Resorts’ (NASDAQ: WYNN) plan to build the United Arab Emirates’ (UAE) first casino resort is widely known -- construction is already underway -- but investors have yet to ascribe much value for that project into the stock's share price. They may...
Betsson Latest Sportsbook to Depart US Market
Add Betsson to the rapidly growing list of sportsbook operators abandoning the US market. The Swedish gaming company made the announcement on Wednesday. Betsson had been offering online sports betting in Colorado under the Betsafe brand for two-and-a-half years through a partnership...
Red Rock Has Margin Durability, Says Analyst
Red Rock Resorts (NASDAQ: RRR) has structural tailwinds that bode well for the casino operator’s margin durability -- something at least one analyst believes investors aren’t giving the gaming company enough credit for. In a note to clients on Thursday, Deutsche Bank...
Casino Operators Face Limited Near-Term Debt Maturities
Running casinos is a capital-intensive business, which explains why so many operators carry substantial debt burdens. But the good news is that many of the largest names in the industry aren’t facing significant near-term maturities. In a recent report to clients, Deutsche...
Regulated NFL Bets Could Reach $35B This Year, Says AGA
The 2024 NFL season starts Thursday and when it comes to betting, it’s expected to be a record-breaker. The American Gaming Association (AGA) estimates that bettors will wager $35 billion on NFL games this year with regulated sportsbooks. That’s a 30% jump...
Kambi Refutes Rumor of Potential Takeover by Genius Sports
Kambi Group Plc (OTC: KMBIF), a provider of technology services to sportsbook operators, denied that it's engaged in takeover discussions with Genius Sports (NYSE: GENI). Speculation recently surfaced that Genius, a data provider to sportsbooks, was mulling a takeover of Sweden-based Kambi,...
Sphere Production Costs, Scalability Issues Prompt Sell Rating
Citing elevated production costs and issues with expansion, an analyst tagged Sphere Entertainment (NYSE: SPHR) stock with a “sell” rating. In a report to clients issued on Tuesday, Benchmark analyst Mike Hickey hit Sphere with the ominous rating and a $40 price...
Hawk Tuah Girl Hailey Welch Inks Podcast Deal with Betr
Hailey Welch who became a viral sensation as “Hawk Tuah girl,” is wading into the world of sports betting, inking a podcast deal with Jake Paul’s Betr. Miami-based Betr has market access for online sports betting in six states, and has an...
