Mon, Feb. 23, 9:26 AM| Comment!
Fri, Feb. 13, 1:23 PM
- The Borgata (MGM, BYD) announces it will offer a skills-based basketball competition after landing approval from New Jersey regulators.
- Casino visitors can enter a basketball free-throwing shooting contest in a poker-style tournament that pays off a majority of the pot to the last few survivors.
- The contest is even open to professionals.
- The development in Atlantic City follows news from earlier this week on pending legislation in Nevada proposing to allow video game contests in casinos.
- What to watch: An apathetic attitude by millennials toward slot machines and video poker is partially behind the innovation push in the casino sector.
- Related stocks: CZR, WYNN, SGMS, ISLE, PNK, PENN, MCRI, CNTY, IGT.
- Related ETF: BJK.
Thu, Feb. 5, 1:24 PM
- The Restoration of America's Wire Act bill was re-introduced in Congress this week.
- Supporters of the bill, which aims to ban online gambling, are testing the new climate in D.C. with the introduction.
- Nevada, New Jersey, and Delaware are the only states to have established online gambling since the DOJ decision of 2011 on the issue.
- Related stocks: OTCQB:TPCA, PNK, CZR, PENN, LVS, BYD, WYNN, MGM, MCRI, ISLE, CNTY, IGT.
- Related ETFs: BJK
Thu, Jan. 29, 7:41 AM
Wed, Jan. 28, 5:30 PM
- ABT, AIT, ALLY, ALV, ALXN, APD, BABA, BAX, BC, BEAV, BMS, BX, CAH, CAM, CELG, CHKP, CL, CLFD, CMS, COH, COP, CRR, CSH, DGX, DHX, DOW, DST, EMC, EPD, F, GLOP, HAE, HAR, HGG, HOG, HP, HSY, HUB.B, ITG, IVZ, JBLU, KELYA, KEM, KMT, LLL, LRN, LSTR, MD, MJN, MMYT, MTH, NDAQ, NOC, NOK, NYCB, OSTK, OXY, PENN, PHM, POT, PSX, PSXP, RCI, RCL, RDS.A, RGLD, RGS, RTN, RYL, SHW, SILC, SWK, SXC, TCB, TDY, TKR, TMO, TWC, UBSI, VIAB, VLO, VLY, VRTS, WCC, WILN, WRLD, XEL, ZMH
Fri, Jan. 2, 10:06 AM
- The campaign to grow Internet gambling stumbled in 2014 with no new states adopting online betting rules and the three states with legal online gambling - New Jersey, Nevada, Delaware - only seeing moderate growth rates.
- Formidable opposition from within the industry stalled some of the growth efforts.
- What to watch: PokerStars (OTCPK:AMYGF) seeks a license in New Jersey and online gambling advocates are pushing for a bill in California.
- Related stocks: CZR, WYNN, MGM, BYD, PENN, IGT, SGMS.
Dec. 15, 2014, 9:07 AM
- The Gaming Facility Location Board in New York is scheduled to award four casino licenses in the state on December 17.
- The group's meeting will be streamed online starting at 2:00 p.m. ET.
- Bidders for the licenses include Penn National Gaming (NASDAQ:PENN), Caesars Entertainment (NASDAQ:CZR), and Genting Group.
Nov. 8, 2014, 9:25 AM
- Energy companies finally are starting to halt a few new U.S. drilling projects as oil prices fall, which Barclays believes may put the U.S. oil boom at risk but "on balance, we believe lower oil prices are good.”
- If strong U.S. energy growth is interrupted, spending in the sector could be cut by $40B, but consumers could save $70B next year as the price at the pump falls for gasoline and diesel, according to Barclays head of U.S. equity strategy Jonathan Glionna.
- The most likely beneficiaries would be discretionary areas such as restaurants, entertainment, apparel, electronics and furniture, he says.
- Glionna lists 27 stocks that could benefit from lower oil prices: AAL, AGCO, AXL, BERY, BLMN, BWLD, CHH, CLX, DE, DPZ, FDX, GM, HD, KMB, KR, KSS, MHK, MMM, PENN, PPG, SAVE, SHW, TGT, UPS, VAL, WMS, WMT.
Oct. 23, 2014, 9:54 AM
- Penn National Gaming (PENN +1.3%) reports a drop in revenue across its East/Midwest and Southern Plains geographic segments in Q3.
- Revenue for the West segment was up 2% to $58.63M.
- The company was leaner compared to a year ago, with corporate overhead expenses down 19.3% to $19.7M.
- Ebitda margin +50 bps to 26.4%.
Oct. 23, 2014, 7:07 AM
Sep. 17, 2014, 8:04 AM
- Wynn Resorts (NASDAQ:WYNN) won the sole license for a Boston-area casino, despite a rough campaign.
- CEO Steve Wynn took potshots at state regulators during the process and famously caught a quick nap during one gaming commission meeting.
- The company and its top exec will likely be on its best behavior with the $1.6B casino project now in the hands of Massachusetts voters.
- Senator Elizabeth Warren has stated publicly she will vote to repeal the 2011 legislation that approved three casinos in the state.
- MGM Resorts (NYSE:MGM) and Penn National Gaming (NASDAQ:PENN) have interests in the other two and will be lobbying voters along with Wynn.
Aug. 6, 2014, 3:11 PM
Jul. 24, 2014, 7:18 AM
Jun. 27, 2014, 3:19 PM
- "A contributing factor in our decision to withdraw our proposal was Philadelphia's vocal support for a Center City casino location, despite the fact that two-thirds of the profits from our proposed casino were dedicated to the City's education and pension fund liabilities," says Penn National (PENN -0.4%) CEO Timothy Wilmott, also noting the market potential today isn't what it was when the company first applied for a license in November 2012.
- He notes PENN continues to have a deep development pipeline.
- Source: Press Release
Jun. 17, 2014, 7:31 AM
- Penn National Gaming (PENN) discloses plans for its $750M casino project in Orange County, New York.
- The Live! Hotel Casino will feature a boutique hotel, restaurants, and spa in addition to a large gaming area.
- The company is partnering with Cordish Companies in a 50-50 joint venture for the project.
May 24, 2014, 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
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