CNBC's Leslie Picker and Contessa Brewer report on MGM Resorts latest move to appoint Kevin Meister to the board.
Meister will join the board on Friday, expanding its size by one to 13 members, MGM said in a statement released late on Thursday. MGM's chief executive officer and chairman, Jim Murren, said the company and Meister have been holding "constructive dialog" over the last several months, and he praised the investor's track record of "helping companies maximize value...
Jan 17- Britain's GVC Holdings expects the United States to be profitable, despite a Department of Justice call for wider restrictions on all gambling on the internet. GVC has expanded rapidly and last year set up an online betting platform in the United States with hotel and casino operator MGM Resorts International. "The U.S. will open up over the next few years...
Jan 15- Shares of British betting companies, which have been pushing into the United States market because of tighter regulations at home, fell after the U.S. Department of Justice called for wider restrictions on all gambling on the internet. The 2011 reading of the federal law, which came into effect in 1961, prohibits certain types of gambling in the United...
CNBC's Leslie Picker discusses Caesars' stock jump after billionaire Carl Icahn takes a stake in the gambling giant, according to sources. Last year, Tilman Fertitta, owner of the Houston Rockets and Landry’s, proposed a deal of $13 cash and stock for Caesars. Shares of Caesars jumped in early trading on Friday after falling 46 percent last year.
Jan 11- Billionaire investor Carl Icahn is building a stake in casino operator Caesars Entertainment Corp, CNBC reported https://cnb.cx/2TKjvwR on Friday, citing sources familiar with the matter. The company's shares jumped more than 7 percent in early trading. The size of Icahn's stake was not immediately known.
Shares of Caesars jump after reports that Carl Icahn is building a stake in the casino company.
Shares of MGM Resorts rallied Thursday after a report that activist hedge fund Starboard Value has built a stake in the company.
CNBC's Contessa Brewer reports on former Wynn CEO Steve Wynn suing the company he founded and how casino stocks are doing this week.
Last year marked a change in how companies dealt with the errant actions of their leaders. As consumers and investors paid more attention, companies had to quickly learn the delicate art of admitting and apologizing on a public stage.
* "Exciting news" for China's gaming industry- Tencent. BEIJING/ SHANGHAI, Dec 21- Tencent Holdings Ltd's shares surged on Friday after a local regulatory official said some new video games had been cleared for sale, ending a lengthy freeze in approvals that has spooked players in the world's largest gaming market. Feng Shixin, a senior official of the ruling...
Vitaly Umansky of Sanford C. Bernstein says the Chinese macroeconomic environment and a smoking ban in VIP rooms are drivers of a "potential slowdown" in gaming growth in Macau.
Prominent short-seller Jim Chanos talks with CNBC's Sara Eisen on his long and short bets on casino operators in China.
The gaming sector's mass market is performing best, while the VIP segment is seeing "choppiness," says Grant Govertsen of Union Gaming Group. That's why Las Vegas Sands, a "mass-market juggernaut," is a safe way to play the market, he says.
Casino stocks start the week on a roll. One analyst wagers this is the beginning of a bigger move for two of those gambling stocks.
Nov 27- Walt Disney Co and Twenty-First Century Fox Inc on Tuesday rejected claims in a Malaysia casino operator's lawsuit accusing them of abandoning a licensing contract tied to the planned construction of a Fox-branded theme park. Genting shares fell 16.7 percent on Tuesday, a day after the Kuala Lumpur- based company sued the American media and...
Genting said "seller's remorse" induced Fox, with Disney's help, to breach its 2013 contract with Fox Entertainment Group to license intellectual property for Fox World, a proposed addition to its Resorts World Genting complex, an hour's drive from Kuala Lumpur. The lawsuit was filed in the U.S. District Court in Los Angeles as Disney prepares to complete its...
NEW YORK, Nov 14- Strong U.S. consumer holiday spending will not boost retailers across the board but instead benefit winners like Apple Inc that have signature products, Esplanade Capital's Shawn Kravetz said at the Reuters Global Investment 2019 Outlook Summit in New York on Wednesday. At the same time, Apple is less likely to come under regulatory scrutiny...
*No update on China regulatory relaxation. HONG KONG, Nov 14- Tencent beat third-quarter profit forecasts on Wednesday but gave no update on a regulatory block in China, the world's largest gaming market, that has damaged its core business. China has imposed tougher rules on the gaming industry, including a halt to new game approvals as part of a regulatory...
Allan Zeman of Lan Kwai Fong and Wynn Macau says the Greater Bay Area will be a "powerhouse," and cities in the region should complement each other.
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