• Thu, Jan. 19, 1:18 PM
    • The Oakland Raiders file official paperwork to move the NFL franchise to Las Vegas.
    • The proposal submitted to the league includes plans for a domed stadium near the Vegas Strip backed by Las Vegas Sands (LVS -0.2%).
    • Gaming analysts expect a significant benefit to the Vegas region if NFL games are played in the region. There's also some speculation that the development could help new sports gambling initiatives.
    • Related stocks: CZR, CACQ, BYD, FLL, CZR, WYNN, MGM, LVS.
    • Related ETF: BJK.
    Thu, Jan. 19, 1:18 PM | 18 Comments
  • Wed, Jan. 18, 3:43 AM
    • Caesars Entertainment (NASDAQ:CZR) has wrapped up the $18B bankruptcy of its main operating unit, allowing the casino company to focus on restoring the tarnished Harrah's, Caesars and Horseshoe brands after two years of Chapter 11 proceedings.
    • "The new Caesars will be a stronger company," CEO Mark Frissora declared after the ruling, calling the approval a "major milestone."
    Wed, Jan. 18, 3:43 AM | 2 Comments
  • Mon, Jan. 16, 2:24 PM
    • The Nevada Gaming Control Board publishes its final report on FY16 casino revenue numbers.
    • Standing out was the $979M in net income tallied for the year by the state's larger casinos, compared to a loss in 2015 of $662M in FY15. It's the first time since FY08 that the 273 larger Nevada casinos haven't reported a fiscal year net loss.
    • Coin operated devices generated 66.1% of all casino revenue, while pit revenue was 30.2% and sports pool revenue came in at 1.9%.
    • The share of revenue derived from gambling decreased 60 bps to 42.6%.
    • Nevada Gaming Abstract 2016 (pdf)
    • Related stocks: CZR, CACQ, BYD, FLL, CZR, WYNN, MGM, LVS.
    • Related ETF: BJK.
    Mon, Jan. 16, 2:24 PM | 16 Comments
  • Fri, Jan. 13, 12:45 PM
    • Caesars Entertainment (NASDAQ:CZR) can now see the door for a post-bankrupcty existence after a deal between the company's operating unit was the U.S. government bankruptcy watchdog was worked out.
    • The agreement is expected to be filed with the court shortly and signed by the presiding judge.
    • Shares of Caesars are up 6.36% to $9.20 vs. a 52-week trading range of $5.39 to $10.84. Caesars Acquisition Company (NASDAQ:CACQ) is up 4.06%.
    Fri, Jan. 13, 12:45 PM
  • Wed, Jan. 4, 7:58 AM
    • The operating unit of Caesars Entertainment (NASDAQ:CZR) reports a cash balance of $1.2B at the end of November.
    • The disclosure was part of a monthly filing with the bankruptcy court.
    • A status conference in the case is scheduled in Chicago for 10:30 a.m. central.
    • Shares of Caesars closed at $8.30 yesterday vs. a 52-week range of $5.39 to $10.84.
    Wed, Jan. 4, 7:58 AM
  • Dec. 30, 2016, 8:28 AM
    • Major creditors groups, Apollo Global Management and TPG support the bankruptcy exit plan of the operating unit of Caesars Entertainment (NASDAQ:CZR), according to new court filings.
    • The Caesars bankruptcy case has been unwinding slowly in Chicago.
    • Shares of Caesars closed yesterday up 3.11% to $8.30.
    Dec. 30, 2016, 8:28 AM
  • Dec. 30, 2016, 7:24 AM
    • Casinos in Nevada reported that gaming win revenue fell 1.47% in November to $930.4M. The five-month fiscal YTD revenue haul is +3.55% Y/Y.
    • Revenue on the Las Vegas Strip decreased 3.48% to $517M. Strip fiscal YTD revenue +3.80%.
    • Revenue from slots and roulette was higher during the month, while baccarat revenue fell 13% Y/Y. A poor hold rate of 2.1% on football betting dinged casinos during the month.
    • Nevada Gaming Control Board full report (.pdf)
    • Related stocks: CZR, CACQ, BYD, FLL, CZR, WYNN, MGM, LVS.
    • Related ETF: BJK.
    Dec. 30, 2016, 7:24 AM | 2 Comments
  • Dec. 23, 2016, 2:53 PM
    • Caesars Entertainment (CZR +6.3%) trades higher after the casino operator amended some its reorganization terms.
    • The casino operator changed some details on the debt that is set to go to senior lenders.
    Dec. 23, 2016, 2:53 PM
  • Dec. 16, 2016, 1:42 PM
    • The Pennsylvania Gaming Control Board reports table game revenue rose 7.1% in November to $70.2M.
    • Total gross gaming revenue (including slots) fell 1.4% tp $249.6M.
    • The Sands Casino Resort Bethlehem (NYSE:LVS) saw an increase in revenue of 4% during the month, while revenue at Harrah's Philadelphia (NASDAQ:CZR) fell 12%.
    Dec. 16, 2016, 1:42 PM | 14 Comments
  • Dec. 6, 2016, 8:01 AM
    • Caesar Entertainment (NASDAQ:CZR) announces significant creditor support for the reorganization plan of its operating unit.
    • The company says more than 90% of voting creditors backed the plan.
    • CZR +0.61% premarket to $8.20.
    Dec. 6, 2016, 8:01 AM | 1 Comment
  • Dec. 5, 2016, 8:10 AM
    • Caesars Entertainment (NASDAQ:CZR) and R&F Properties announce that they will partner on a casino development project in South Korea.
    • Each company will contribute $30.5M initially to the 50-50 joint venture.
    • Caesars has been working on a establishing a South Korean casino for several years.
    • Shares of Caeasars closed at at six-week high of $7.80 on Friday.
    Dec. 5, 2016, 8:10 AM
  • Nov. 30, 2016, 2:58 PM
    • Caesars Entertainment (CZR +0.7%) plans to charge for parking at its nine Las Vegas Strip-area properties. The new policy is scheduled to start late in December.
    • The company is following MGM which fired off a paid parking policy earlier this year.
    • MGM expects to bring in an extra $90M annually from the measure. There's no word on how much Caesars sees the parking fees bringing in.
    Nov. 30, 2016, 2:58 PM | 5 Comments
  • Nov. 29, 2016, 11:00 AM
    • Casinos in Nevada reported that gaming win revenue increased 11.12% to $986.20M in October. The four-month fiscal YTD revenue haul is +4.86% Y/Y.
    • Revenue on the Las Vegas Strip improved 14% to $562.7M. Strip fiscal YTD revenue +4.86%.
    • It's always interesting to dig into the gaming win details. For October, a 25% increase in revenue from sports books jumped out.
    • Nevada Gaming Control Board full report (.pdf)
    • Related stocks: CZR, CACQ, BYD, FLL, CZR, WYNN, MGM, LVS.
    • Related ETF: BJK.
    Nov. 29, 2016, 11:00 AM | 6 Comments
  • Nov. 22, 2016, 2:46 AM
    • The U.S. government's bankruptcy watchdog has objected to a Caesars Entertainment (NASDAQ:CZR) subsidiary's proposal to exit Chapter 11, threatening to derail a largely consensual plan to slash $10B of debt.
    • Separately, Hanjin Shipping (OTC:HNJSF) has decided to sell part of its container ship business to Korea Line Corp. for 37B Korean won ($31M) to secure funds to pay off creditors.
    Nov. 22, 2016, 2:46 AM
  • Nov. 18, 2016, 11:52 AM
    Nov. 18, 2016, 11:52 AM | 3 Comments
  • Nov. 18, 2016, 11:08 AM
    Nov. 18, 2016, 11:08 AM | 3 Comments