|Bid||12.15 x 800|
|Ask||12.60 x 1000|
|Day's Range||12.35 - 12.60|
|52 Week Range||10.48 - 14.50|
|PE Ratio (TTM)||53.19|
|Earnings Date||Aug 1, 2018 - Aug 6, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||15.64|
While the NBA and MLB are in lockstep on their response to the Supreme Court sports betting ruling, and are seeking "integrity fees," the NFL is taking a different approach.
U.S. companies operating in the Chinese enclave of Macau has seen growth return after a downturn in 2016. Just 11% of property-level Ebitda in 2017 came from domestic operations — a figure that will drop to the single digits this year after the sale of Sands Bethlehem.
Bookmaker Paddy Power Betfair looks to build the largest U.S. online sports betting business with its acquisition of fantasy sports site FanDuel.
Las Vegas casino owners expressed confidence they can reach a deal with union employees, who are threatening the first strike there since 1984. Members of Unite Here’s culinary and bartenders unions are seeking new agreements on wages and issues such as workplace safety, subcontracting and new technology, according to a statement. “A strike is a last resort,” Geoconda Argüello-Kline, secretary-treasurer of the union, said in the statement.
Las Vegas' economy is stronger than just gaming, but a strike would hurt. About 25,000 members of the city's Culinary Union voted Tuesday night to approve a strike on June 1 if they can't reach a deal with casino owners when the current labor contract expires on May 31. If the contract, which covers 50,000 workers at 34 different casino resorts on the Las Vegas Strip and downtown Las Vegas, does expire it would definitely hurt the city, but Vegas has been able to diversify its economy enough to where it would not be crippling, Union Gaming analyst John DeCree told TheStreet on Wednesday.
Four years ago, analysts at Moody's warned that it was risky to sell leveraged loans to individual American investors. The analysts said the fund managers who sell these securities in open-ended mutual funds and ETFs could be putting their reputations at risk. Last week, investors sent nearly $1bn into loan funds, the most in more than a year.
Las Vegas' (LVS) solid business model, extensive non-gaming revenue opportunities, high quality assets and attractive property locations are likely to drive performance in the near term.
In the first quarter of 2018, billionaire George Soros saw his Soros Fund Management portfolio increase from $4.37 billion to $6.16 billion. At the same time, the firm increased its total 13F positions from 196 to 219, according to Seeking Alpha. Per SEC filings, the billionaire increased short positions in SPDR S&P 500 ( SPY) and PowerShares QQQ ( QQQ) through puts.
Investing can be a gamble, as gaming shorts are finding out this week. Short sellers of the 22 stocks in the U.S. casinos and gaming sector are down more than $200 million in mark-to-market losses after the U.S. Supreme Court ruled that a 1992 federal law prohibiting sports gambling in most states is unconstitutional, paving the way for individual states to decide whether they want to allow regulated sportsbooks to be opened. Short interest in the gaming sector was at $4.65 billion in 2018, according to S3 Analytics, a 16%, or $640 million, increase over the previous year.
The nine justices recently ruled the decades-long federal ban on sports betting violates the constitution. The Supreme Court said that in the absence of specific regulations enacted by Congress, states can allow sports betting. With more than 30 states about to enact regulations that would allow sports betting within their borders, sports betting is an industry on the rise.
For investors wondering if the U.S. Supreme Court’s favorable ruling for the sports betting industry is a positive for casino operators, the answer is “absolutely yes,” Stifel Nicolaus analysts said, but hold your horses: It’s “absolutely not” a game changer. The VanEck Vectors Gaming exchange-traded fund(BJK)ran up 2.2% on Monday, while the S&P 500 index(^GSPC)ticked up just 0.1%, after the Supreme Court ruled that the Professional and Amateur Sports Protection Act doesn’t make sports gambling a federal crime, a decision that could open up sports betting around the country.
All three major indices closed Tuesday's session in the red, with the Dow Jones Industrial Average snapping an eight-day winning streak and the Dow and Nasdaq suffering their worst single-session drop in three weeks. The Dow fell 0.78%, or 193 points to 24,706, while the Nasdaq fell 0.81%, or 60 points to 7,352, while the S&P 500 fell 0.68%, or 19 points to 2,711. Seattle passed a tax on businesses in the city making more than $20 million annually, and two of the international businesses that were started in the city are voicing their displeasure.
Caesars has been focused on digital and mobile platforms and the sports-betting ruling plays right into that, CEO Mark Frissora says. Caesars Entertainment CZR is in the "best" position to take advantage of legal sports betting, its CEO Mark Frissora told CNBC on Tuesday. The U.S. Supreme Court ruled Monday that states can legalize sports betting, breaking up Nevada's monopoly on the practice.