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Empire Resorts, Inc.NASDAQ
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  • Fri, Nov. 18, 11:52 AM
    | Fri, Nov. 18, 11:52 AM | 3 Comments
  • Fri, Nov. 18, 11:08 AM
    | Fri, Nov. 18, 11:08 AM | 3 Comments
  • Mon, Oct. 31, 2:40 PM
    • There's a growing wave of support for a legalized sports betting framework in the U.S. to take advantage of the huge market and reel in some of the money going to off-shore and illegal betting options.
    • State lotteries, sports betting shops and Native American casino entities are all calling for action from Capitol Hill or on a state-by-state basis.
    • Professional sports league also cooperating. "We've been supportive of legalized sports betting, and we'll continue to be supportive," says NBA Senior VP Dan Spillane. Already in the mix, a NHL expansion team is due to debut in Las Vegas next year and the NFL is trying to lure the Oakland Raiders to the region.
    • Perhaps the most intriguing angle with legalized sports betting is the growing interest from tech firms in having their hands in the billions of dollars likely to flow through the U.S. betting market. ESPN reports that Microsoft (NASDAQ:MSFT) and Sony (NYSE:SNE) already have patents covering sports betting platforms, while some industry experts think a widespread mobile betting platform from a tech heavyweight is inevitable (Facebook or Google?).
    • What to watch: If Congress takes the final decisive step, a number of dramatic partnerships and M&A deals between Silicon Valley and existing casino operators could start flying.
    • Related stocks: OTCPK:EIHDF, OTC:BTFRF, OTC:PYGMF, OTCPK:PDYPY, OTC:WIMHF, OTCPK:WIMHY, RRR, CZR, MGM, BYD, OTC:LDBKF, OTCPK:LDBKY, OTCPK:RANKF, DUEL, DDAY, DRAFT, GDEN, NYNY, CHDN, FLL, PENN, SGMS, CNTY, OTCQB:TPCA, LVS, ERI, WYNN, ZNGA.
    • Related ETF: BJK.
    | Mon, Oct. 31, 2:40 PM | 11 Comments
  • Mon, Oct. 24, 8:24 AM
    | Mon, Oct. 24, 8:24 AM | 4 Comments
  • Mon, Sep. 26, 9:50 AM
    | Mon, Sep. 26, 9:50 AM | 1 Comment
  • Wed, Aug. 10, 9:10 AM
    • Former NBA Commissioner David Stern will make a key speech at the Global Gaming Expo next month in which he will present the case for legalizing sports betting, according to ESPN.
    • Stern's turnaround on sports betting lines him up with the views of current NBA commissioner Adam Silver who supports a federal framework of betting regulations. The NBA has a small stake in FanDuel (Private:DUEL) in what could be considered a bit of a hedge.
    • Sports betting is slated to be a major focus of the Global Gaming Expo scheduled for September 26-September 29 at the Sands Expo. The Nevada Gaming Commission is also considering allowing remote wagering from all 50 states in what could be a major disruption to the industry if passed.
    • Earlier this week, a federal court blocked New Jersey from offering legalized sports betting as it upheld the Professional and Amateur Sports Protection Act.
    • POTUS watch: Both Donald Trump and Hillary Clinton have offered some support for legalized sports betting in prior comments, but don't have well-defined positions on the issue.
    • Broadly-related stocks: ISLE, PENN, PNK, BYD, GLPI, CHDN, MCRI, OTCQB:TPCA, CNTY, ERI, NYNY, DDE, UWN, FLL, CZR, CACQ, MGM, LVS, WYNN, DRAFT, DDAY, OTCPK:DTFSF, ZNGA, OTC:WIMHF, AYA, OTCPK:EIHDF, SGMS, OTCQB:GLXZ.
    | Wed, Aug. 10, 9:10 AM | 6 Comments
  • Wed, Jun. 15, 8:48 AM
    • The New York State Senate approved a bill to make online poker legal in New York with restrictions.
    • The bill would allow New York's 11 racetrack casinos to host online poker tournaments.
    • New York will be the fourth state in the U.S. after Delaware, New Jersey, and Nevada with legalized online poker if the full state assembly approves the legislation. There's considerable debate over which direction the assembly will go.
    • A significant political battle over the potential development of new casinos in the northern part of New Jersey is in the background of the online poker discussion.
    • Related stocks: CZR, OTCPK:EIHDF, MGM, AYA, BYD, NYNY.
    | Wed, Jun. 15, 8:48 AM
  • Thu, Jun. 9, 2:45 PM
    • Casino operators continue to find new ways to generate sales with gaming revenue under some pressure. The last round of quarterly reports from the sector indicated strong RevPAR numbers which means the hotel and restaurant side of the business is working well.
    • A scan of Nevada gaming data over a 12-month period (5/1/15-4/30/16) might reveal some broader trends across the U.S. as the millennial generation factors into the equation.
    • Nevada games and table win revenue -4.03% to $4.096B. Win percentage 13.14% vs. 12.60% for the preceding year. Baccarat and roulette fell off during the one-year period, while craps and new games contributed positively.
    • Slot machine win revenue +2.8% to $7.013B. Win percentage 6.56% vs. 6.45% for the preceding year. Revenue from penny slots was up 7% Y/Y.
    • Sports betting revenue growth: Football -2%; Baseball +79%; Basketball +17%; Parlays -34%.
    • Sports betting win % comparisons: Football 5.4% vs. 5.5% prior; Baseball 4.3% vs. 3.1% prior; Basketball 5.2% vs. 5.1% prior; Parlays 26%. vs. 39% prior.
    • Source: Nevada Gaming Control Board reports
    • Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD, ISLE, DRII, PNK, PENN, NYNY, OTCQB:TPCA, ERI.
    • Related ETF: BJK.
    | Thu, Jun. 9, 2:45 PM | 3 Comments
  • Fri, May 27, 10:06 AM
    • The talk at the East Coast Gaming Congress and iGaming Institute conference was on the impact of proposed casinos in northern New Jersey near New York City.
    • Voters in New Jersey will decide the issue in November, but it's what happens in New York if the measures passes that is creating the buzz. Some industry insiders think the Big Apple will consider allowing gambling inside Manhattan due to the threat just across the Hudson.
    • "New York City will retaliate violently," summed up Resorts Casino Hotel president Mark Giannantonio.
    • The prognosis on Atlantic City is that the city will lose three to five of its existing casinos if gambling opens up to the north.
    • Related stocks: BYD, CZR, MGM, NYNY, PENN.
    | Fri, May 27, 10:06 AM | 3 Comments
  • Sat, Feb. 20, 11:05 AM
    • The U.S. casino industry is looking at ways to attract more millennials as baby boomer traffic begins to soften. The addition of fitness centers, spas, and a stronger sports book/sports bar presence with more betting options are seen as ways to increase visits by the younger demographic.
    • Companies are also edging closer to adopting skills-based gambling machines as a way to lure in millennials who aren't enchanted with traditional slot machines. Nevada and New Jersey already have regulations in place, while at least six other states are looking seriously at the issue.
    • The next-gen slot machines could incorporate well-known games such as Angry Birds or Guitar Hero, as well as retro versions of Pac Man and Space Invaders.
    • What to watch: One category that is a known winner for attracting huge millennial interest is daily sports fantasy games. Whether it plays out in Washington D.C. or through the courts, casinos could carve out a large piece of that pie in the future.
    • Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD, ISLE, DRII, PNK, PENN, NYNY, OTCQB:TPCA, ERI,
    • Related ETF: BJK.
    | Sat, Feb. 20, 11:05 AM | 30 Comments
  • Thu, Feb. 18, 8:18 AM
    • Empire Resorts (NASDAQ:NYNY) announces it closed its rights offering after generating gross proceeds of $290M.
    • After the conclusion of the offering, a conversion by Kien Huat resulted in the investment company owning 88.7% of all common stock.
    | Thu, Feb. 18, 8:18 AM
  • Tue, Feb. 9, 8:13 AM
    • Empire Resorts (NASDAQ:NYNY) advises shareholders that its rights offering will expire on February 10.
    • The rights are being distributed at a rate of one transferable subscription right for each 0.4748644 shares of common stock owned.
    | Tue, Feb. 9, 8:13 AM
  • Tue, Jan. 26, 1:38 PM
    • The U.S. casino business could generate revenue up to $93B by 2020 as growth picks up, according to a forecast by Technavio.
    • The upside could be higher for regional casinos which aren't battling to offset the loss of VIP baccarat revenue like Las Vegas operators, although Strip revenue is still seen besting 2015 totals.
    • Forecasts for Macau have been cautious due to the carnage in Chinese equity markets, although analysts note the sector will run up against soft comparables for at least the first part of the year. New openings on the Cotai Strip are expected to bring in new international visitors.
    • Related stocks: ISLE, PENN, PNK, BYD, GLPI, CHDN, MCRI, OTCQB:TPCA, CNTY, ERI, NYNY, DDE, UWN, FLL, CZR, CACQ, MGM, LVS, WYNN, MPEL, OTCPK:SJMHY, OTCPK:GXYEF.
    | Tue, Jan. 26, 1:38 PM | 6 Comments
  • Thu, Jan. 14, 3:30 PM
    • Empire Resorts (NASDAQ:NYNY) announces that shareholder Kien Huat exercised a portion of its basic subscription rights.
    • The company will bring in $30M from its largest shareholder from the transaction.
    • Kien Huat has agreed to exercise the remainder of the rights before the expiration of the offering.
    | Thu, Jan. 14, 3:30 PM
  • Dec. 29, 2015, 1:22 PM
    • Shares of Empire Resorts (NYNY -12.6%) are sharply lower after the company discloses a right offering plan for common stock and Series B preferred shares.
    • The company plans to use the proceeds to help fund the development of the Montreign Resort Casino.
    • Previously: Upstate New York casinos get green light from gaming regulator (Dec. 23 2015)
    | Dec. 29, 2015, 1:22 PM
  • Dec. 29, 2015, 12:45 PM
    | Dec. 29, 2015, 12:45 PM