casinos

It’s no secret sportsbooks across the globe have had their betting offerings decimated by the novel coronavirus pandemic. The NBA, NHL and MLB have all suspended and postponed their regular seasons. Globally, soccer, rugby and cricket clubs have had their competitive activities...

Casino stocks have been among the hardest hit during the COVID-19 market sell-off due to mandatory shutdowns around the country and heavy debt loads among leading operators. On Thursday, BofA Securities slashed its price targets for the casino group, but said there are buying opportunities...

As much of the nation goes on COVID-19 lockdown, even some casino companies thik staying open is too much of a gamble. Major Las Vegas casino operators Wynn Resorts, Limited (NASDAQ: WYNN) and MGM Resorts International (NYSE: MGM) have announced their Strip casinos will be closing due to the...

What the market has been doing this week is repricing where it thinks earnings should be in light of the hit to global economic growth that is expected from the coronavirus. With the outbreak continuing to spread worldwide, the market is continuing its downward spiral this morning. The shunning of...

U.S. markets were closed Monday, but there were some headlines out on the holiday that could prove relevant for several exchange traded funds over the course of this week. To be sure, some of the ETFs likely to be in the spotlight this week don't often spend much time with that status and...

Casino stocks with exposure to Macau, China have gotten pounded from the coronavirus, and the Chinese government even shut down Macau casinos for two weeks. However, one analyst said Wednesday the worst of the coronavirus headwinds have now blown over in Macau. The Casinos Analyst Bank of America...

That’s more like it. After a slump in December, the economy created a way better than expected 225,000 new jobs in January. The growth included nice gains in closely watched categories like construction and warehousing, but still showed weakness in the manufacturing sector. Even so, job...

Hong Kong reported its first coronavirus-related death Tuesday, the second recorded outside mainland China, according to Reuters reports. Macau, the Chinese territory and the world’s biggest gambling hub, has asked casino operators to close for two weeks to help curb the spread of the virus....

Penn National Gaming, Inc (NASDAQ: PENN) shares surged on Wednesday following news it has agreed to buy a stake in publisher Barstool Sports Inc. for $163 million. Penn National, a casino operator, plans to take a 36% stake in Barstool Sports, which produces sports media and live events, according...

MGM Resorts International (NYSE: MGM) said Tuesday that it plans to sell the MGM Grand and Mandalay Bay properties to a joint venture of MGM Growth Properties LLC (NYSE: MGP) and Blackstone Real Estate Income Trust, Inc. for $4.6 billion. The Blackstone Real Estate Income Trust will...

Casino stocks are finishing the year strong after investors have received good news out of Macau, China. In addition to positive progress on the trade war front, a Macau visit by China’s President Xi Jinping reportedly went very well. Economic Diversification Xi recently visited Macau to...

New Jersey is ready to overtake Las Vegas as the sports betting capital of the U.S., according to The New York Post.  The state, with help from the NFL, is poised to take the lead in newly legal sports betting, the tabloid said.  "Indeed, it only took 11 months for New Jersey to...

MGM Resorts International (NYSE: MGM) is unlikely to deliver second-quarter outperformance when it reports results July 25, according to Morgan Stanley. The Analyst Thomas Allen downgraded MGM Resorts International from Overweight to Equal-weight and reduced the price target from $32 to $...

A Caesars Entertainment Corporation (NASDAQ: CZR)-owned casino in Las Vegas will be home to a new ESPN studio focused on sports betting content, and Caesars will be the sports network’s official sports-odds data supplier, the Walt Disney Co. (NYSE: DIS)-owned network and the casino company...