Vora says Penn fumbled online gaming opportunity by focusing on sports betting Vora estimates Penn destroyed $11 billion in shareholder value with bad sports wagering transactions Calls Penn a sports betting “laggard” In its latest salvo aimed at Penn Entertainment (NASDAQ: PENN), HG Vora said the gaming company has destroyed $11 billion in shareholder value […]

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Regional casino operator will commence buyback plan in coming weeks Could be in the millions of dollars Perhaps signaling to investors it sees value in its battered stock, Century Casinos (NASDAQ: CNTY) announced today it will soon commence a share repurchase program. The Century Casino in Central City, Colo. The company said it will buy […]

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Company says process to dispose of interest in Philippines casino is progressing No firm timeline given for official announcement Melco Resorts & Entertainment (NASDAQ: MLCO) noted incremental progress has been made on the operator’s strategic review of alternatives for its City of Dreams Manila casino hotel. Melco’s City of Dreams in Manila. The operator said […]

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Neither company has commented about the possibility of a marriage Bet365 rumored to be shopping itself or positioning for IPO Private equity looms large Rumors are fresh that Bet365 is considering a potentially transformative transaction, including a full or partial sale or a US initial public offering (IPO), but the pool of credible buyers is […]

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Company is said to be holding talks with US bankers Options include an IPO or asset sales Bet365 is rumored to be holding talks with US investment bankers regarding a possible sale of the gaming company at a $12 billion valuation. Bet365 CEO Denise Coates. The company is rumored to be considering a sale or […]

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Analyst speculates Strat operator could eventually sell itself Says Golden could be appealing target for multiple suitors Acknowledging that it’s just speculation, an analyst said Golden Entertainment (NASDAQ: GDEN) could eventually consider selling itself. Golden Entertainment’s Strat Las Vegas. An analyst said the operator could eventually consider selling itself. (Image: YouTube) In a new report, […]

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Regional casino operator decided to bid amid fears Star would have been too difficult to rescue in administration Kim says Bally’s had been monitoring th Star situation for a year. Bally’s (NYSE: BALY.T) considered waiting for Star Entertainment Group to be placed into administration, but opted to proceed with a $188 million takeover bid for […]

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Bally’s is shelling out nearly $150 million to save the Aussie casino operator Analysts say the transaction is fraught with risks for the buyer News emerged late Sunday that Bally’s (NYSE: BALY.T) is partnering with Australian businessman Bruce Mathieson to essentially save Star Entertainment Group in a deal valuing the battered casino operator at about […]

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***UPDATE*** Late Sunday, news broke that Star Entertainment has accepted an offer from Bally’s that will see the US-based regional casino operator take majority control of the Australian gaming firm. Bally’s is paying $149.8 million to acquire Star with investor Bruce Mathieson — Star’s largest individual shareholder — providing $30.1 million in financing to move […]

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Potential payment included in agreement to acquire golf course operating rights Bally’s bought lease rights for Ferry Point course in 2023 If Bally’s is successful in procuring a Bronx casino license, that would mean a $115 payday for the Trump Organization, which previously operated the golf course on which the gaming company is hoping to […]

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