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Wed, Aug. 27, 8:32 AM
Tue, Aug. 26, 5:30 PM
Fri, Jul. 11, 12:45 PM
Fri, Jul. 11, 10:01 AM
- Isle of Capri (ISLE -14.2%) falls sharply after CFO Dale Black resigns and the company eliminates the position of Executive Chairman of the Board of Directors.
- Shares of the casino operator had raced higher this summer on buyout talk, but are giving back a decent chunk of it today.
Wed, Jul. 2, 10:07 AM| Comment!
Wed, Jul. 2, 9:15 AM
Tue, Jun. 17, 8:35 AM
Mon, Jun. 16, 5:30 PM
Sat, May. 24, 3:39 PM
- Revenue from online gaming continues to disappoint in New Jersey. The Internet win for April for major players Borgata (BYD, MGM), Caesars Interactive (CZR), Trump, and Golden Nugget came in at $11.4M - less than $11.8M brought in during March. Original forecasts called for a take of over $30M a month in 2014.
- Easy access to illegal online gambling operators is thought to be reducing customer traffic. As a result, gaming companies are having a tough time capturing their investments as quickly as anticipated and are turning conservative.
- Boyd Gaming says it will cut advertising after recording a $3.2M loss from its Internet gaming business in Q1, while 888 Holdings (EIHDF) is shifting ad dollars to slots.
- The total gaming win in New Jersey (online and brick-and-mortar casinos) through April is down 1.2% to $874M. (Full report .pdf)
- The impact on brick-and-mortar casino traffic from legalized online gaming has been negligible so far in Nevada as well.
- Related: Online casinos face a hurdle from within the industry
- Casino stocks: TPCA, PNK, PENN, LVS, WYNN, MGM, MCRI, ISLE, CNTY, IGT, BYI, PTEK, MGAM
Wed, May. 21, 12:07 PM
- The American Gaming Association has dropped support for legalizing online gambling after seeing some major divisions between members on how a roll-out should progress.
- Casino heavyweights have bickered over what the regulatory framework should be for the industry.
- Though the launch of online gambling in Nevada, New Jersey, and Delaware hasn't gone as well as expected with offshore operators still dominating, Morgan Stanley forecasted the legal online gambling market could reach $8B a year by 2020.
- Related stocks: TPCA, PNK, CZR, PENN, LVS, BYD, WYNN, MGM, MCRI, ISLE, CNTY, IGT, BYI, PTEK, MGAM
- Related ETFs: BJK
Fri, Feb. 28, 10:20 AM
- Regional casino stocks are showing some weakness in early trading.
- Sentiment has soured after a few disappointing quarterly reports in the sector and reads from state regulators which showed slow traffic in February.
- Decliners: Isle of Capri Casinos (ISLE) -3.4%, Boyd Gaming (BYD) -3.1%, Penn National Gaming (PENN) -0.8%.
Thu, Feb. 27, 8:32 AM| Comment!
Wed, Jan. 29, 4:11 PM
Thu, Jan. 16, 1:32 PM
- Regional gaming stocks are getting beat up as a slew of states report underwhelming revenue totals for December.
- Though the winter weather was expected to take a toll, some of the numbers are worse than anticipated. Casino sales in snow-free Los Angeles slipped 5%, while sales at Lousiana-region complexes were off 9%. Even tribal casinos had a tough month, with slot revenue down 11% Y/Y.
- The Markets Vectors Gaming ETF (BJK) is holding up with its portfolio heavily skewed toward Las Vegas and Asian casino giants.
- Related stocks: DDE, NYNY, MNTG, ISLE, BYD, PENN, PNK, MCRI, CNTY.
Wed, Jan. 8, 7:30 AM
Thu, Jan. 2, 8:57 AM
- Casino stocks should be approached with an air of caution in 2014 after the sector ran up some gaudy gains in 2013 to stretch out valuation, warns Hedgeye's Todd Jordan.
- Though online gambling in the U.S. and new opportunities in Singapore and Japan provide plenty of upside potential for the industry, a cooling-off period for some red-hot names could be seen until visibility clears on the new revenue streams.
- The long-term potential for both regional and global casino stocks still looks very bright, according to most analysts.
- Related stocks: TPCA, PNK, CZR, PENN, LVS, BYD, WYNN, MGM, MPEL, MCRI, ISLE, CNTY,
- Related ETF: BJK
ISLE vs. ETF Alternatives
Isle of Capri Casinos Inc is a developer, owner and operator of regional gaming facilities and related dining, lodging and entertainment facilities in the United States. It owns and operates 15 gaming and entertainment facilities.
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