|Bid||538.00 x 75700|
|Ask||538.50 x 123200|
|Day's Range||534.00 - 556.12|
|52 Week Range||523.50 - 1,184.00|
|Beta (3Y Monthly)||0.91|
|PE Ratio (TTM)||N/A|
|Earnings Date||Sep 18, 2017 - Sep 22, 2017|
|Forward Dividend & Yield||0.32 (5.90%)|
|1y Target Est||1,179.33|
NEW YORK, March 19, 2019 /PRNewswire/ -- MGM Resorts International (MGM) and Major League Soccer (MLS) today announced a historic multi-year strategic partnership that establishes MGM Resorts as the league's first official gaming partner and Roar Digital (Roar), the joint venture between MGM and GVC, as the exclusive Official Sports Betting Partner of MLS.
The FTSE 100 was flat while the FTSE 250 was up 0.2 percent. The index was also supported by Standard Life Aberdeen which rose 2.4 percent on its best day since early January after posting full-year results and saying that it was doing away with a dual-CEO management structure. Lawmakers voted against Prime Minister Theresa May's amended Brexit deal by 391 to 242 on Tuesday, forcing parliament to decide whether to back a no-deal Brexit or seek a last-minute delay to the process.
Struggling department store Debenhams was a bright spot on the UK indexes after Sports Direct's Mike Ashley made a move towards running the more than 240-year-old company. GVC plunged 14 percent - its steepest drop in nearly nine years - to levels last seen in July 2016, after its chairman and chief executive sold some of their holdings in the company at a discount.
European stocks notched up their biggest weekly fall since December on Friday, extending losses as weak China and German data and poor U.S. jobs numbers tightened bears' grip on the market, underscoring worries about a global economic slowdown. Euro-zone bank stocks extended Thursday's fall after the European Central Bank cut its growth forecasts and pushed out an interest rate hike. Basic resources fell 1.7 percent and autos stocks tumbled 1.3 percent after China reported its biggest drop in exports in three years and German industrial orders unexpectedly fell.
Major regulatory changes on both sides of the Atlantic for the gambling sector have commanded investor attention in recent months, but Britain's GVC has been able to weather out the storm and reported strong results. The company this week, however, spooked some investors after warning that a cut to the maximum stake on fixed-odds betting terminals (FOBTs) would result in the closure of up to a thousand shops and impact core earnings by about 135 million pounds in 2019. Chief Executive Officer Kenneth Alexander and Chairman Lee Feldman together sold 3 million GVC shares at a discounted price of 666 pence, seen by investors as a lack of confidence in the bookmaker.
, the over-50s travel agent and insurance group, plunged after competition worries led JPMorgan Cazenove to advise selling. UK motor insurance companies have been reporting that industry pricing has failed to keep pace with claims inflation, which may be a problem for Saga as it tries to return to policy growth, said JPMorgan. With the company due to take on debt over the next two years to fund two new cruise ships, any further deterioration in its core markets would raise questions about whether it can sustain dividends, the broker said.
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. On the other hand, we'd be remiss not to mentionRead More...
The FTSE 100 was up 0.7 percent, outperforming its euro zone peers. The FTSE 250 was 0.2 percent higher. GVC led the blue-chip gainers after it reported a surge in net gaming revenue, and Hargreaves Lansdown analyst George Salmon said the gambling firm's digital division remained GVC's "trump card" amid regulatory changes in the industry.
Betting companies with operations in Gibraltar on Spain’s southern flank worry Madrid will restrict land access to the tiny British territory when the U.K. leaves the European Union. GVC Holdings Plc and William Hill Plc have more than 1,400 employees on the rocky peninsula, which has long been an international betting hub because it had a legal framework for gambling before the U.K. mainland and more favorable taxes. Competing claims over the territory have caused tension between Spain and Britain for three centuries.
GVC, which owns games brands such as partypoker, PartyCasino, Casino Club, Gioco Digitale and Foxy Bingo, also said that the cut to the maximum stake on fixed-odds betting terminals (FOBTs) will result in the closure of up to a thousand shops and expects the EBITDA impact to be £135 million in 2019. The cut to the maximum stake FOBTs would be implemented from April this year after several lawmakers have called for curbs on FOBTs, which have been widely blamed for allowing gamblers to rack up large losses in a short space of time.
Moody's Investors Service (Moody's) has today assigned Ba2 rating to the proposed E350 million senior secured notes due 2026, to be issued by the UK listed global technology leader for the gambling and financial trading industries Playtech PLC ("Playtech" or the "group"). Concurrently, Moody's has today affirmed the company's Ba2 corporate family rating (CFR), the Ba2-PD probability of default rating (PDR) and the Ba2 rating of the E530 million senior secured notes due 2023 also issued by Playtech.
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return Read More...
The company had cut its profit forecast in November due to tightening regulations at home, particularly on lucrative fixed-odds betting terminals (FOBTs), and warned of more losses in the United States. William Hill said 2018 adjusted operating profit from continuing operations would be 234 million pounds, slightly higher than company-supplied analyst estimates of 232.2 million pounds. Profit was lower in its retail business due to tough high-street conditions and the offering would be remodelled in 2019 as Chief Executive Officer Philip Bowcock looks to make the firm a "digitally-led international business", the company said.
Investors in British stocks turned their focus from political to company developments on Thursday as results from software firm Sage, Primark owner ABF, and bookmaker GVC triggered big moves and weak house sales data dented shares in housebuilders. The FTSE 100 (.FTSE) slid 0.4 percent, extending Wednesday's fall and in line with a slide in euro zone stocks, while the domestically focussed mid-cap FTSE 250 (.FTMC) rose 0.3 percent as sterling hit its highest since mid-November. Financials were the biggest drag on the FTSE 100 as Europe's banking sector sold off after weak results from Societe Generale (SOGN.PA), and investors received Prime Minister Theresa May's win in a no-confidence vote with little fanfare.
Shares in GVC's rivals William Hill (WMH.L), Paddy Power Betfair (PPB.I) and 888 (888.L) fell on Tuesday after the U.S. regulator reversed its 2011 opinion that made only online sports betting illegal under the Wire Act. "Whilst the decision a couple of days ago might affect some inter-state stuff, maybe affect poker to a degree, for sports betting we don't see it having any impact," GVC Chief Executive Officer Kenneth Alexander said on Thursday. 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 (MGM.N).
By Shashwat Awasthi and Muvija M (Reuters) - Britain's FTSE 100 rose on Tuesday on hopes Beijing will take steps to stabilise a slowing economy, while mid-caps edged up in choppy trade as investors remained ...
By Helen Reid LONDON (Reuters) - European shares bounced on Tuesday after China signalled more stimulus measures to soften the blow from a tariff war with the United States, triggering relief in trade-sensitive ...
UK bookies such as William Hill Plc (WMH.L), Paddy Power Betfair Plc (PPB.I) and 888 Holdings Plc (888.L) fell between 1.5 percent to 7 percent on Tuesday after the U.S. regulator reversed its 2011 opinion that made only sports betting online illegal under the Wire Act. The 2011 reading of the federal law, which came into effect in 1961, prohibits certain types of gambling in the United States including sports betting, but the regulator now says the provisions under the act must now be considered in tandem with the Unlawful Internet Gambling Enforcement Act.
By Helen Reid and Muvija M LONDON (Reuters) - Weak economic data from China sent Britain's top stock index down on Friday as miners, consumer stocks and banks suffered from investors' mounting anxiety ...