Month: July 2024
Alaska’s Second Gaming Hall Gets Federal OK After Tribe’s 25-Year Wait
A proposal by the Native Village of Eklutna, an Alaska Native group, to build an electronic bingo hall on its land 20 miles outside of Anchorage has been signed off by the federal government. That’s more than a quarter of a century after it was first envisioned. Traditional Eklutna dancers in the Native village, just…
Read More
Caesars CEO Reeg Says No Involvement with Penn, Eyes Buybacks
Caesars Entertainment (NASDAQ: CZR) CEO Tom Reeg told analysts the company isn’t “even tangentially involved” in the takeover scuttlebutt that’s recently surrounded rival Penn Entertainment (NASDAQ: PENN). Caesars CEO Tom Reeg in a 2021 CNBC interview. He said the company is not interested in Penn Entertainment and doesn’t want to use its currently depressed stock…
Read More
LVS Wants Texas to Allow for Five or More Casinos Statewide, Experts React
Texas should open at least five destination casino resorts, according to a Las Vegas Sands (LVS) executive, whose company is among those eager to capture a license. The Dallas skyline, pictured above. LVS wants to see two casinos in the DFW metroplex. (Image: Visit Dallas) Two of these casinos should be in the Dallas-Fort Worth…
Read More
PrizePicks Hires Bank to Scout for Acquisition Opportunities
Daily fantasy sports (DFS) giant PrizePicks reportedly hired investment bank Moelis & Co. to hunt for acquisition opportunities. PrizePicks creator Adam Wexler. The company reportedly hired an investment bank to search for acquisition targets. (Image: PrizePicks) Bloomberg broke the news late Thursday, citing unidentified sources with knowledge of the matter. One of the sources told…
Read More
Apollo Surprises With $6.3B Bid for Everi, IGT Gaming Biz
Shares of Everi (NYSE: EVRI) and International Game Technology (NYSE: IGT) surged Friday after Apollo Global Management (NYSE: APO) emerged as a surprise bidder for Everi and IGT’s global gaming and PlayDigital arms. The private equity firm offered $6.3 billion for those businesses. A slide from an Everi Holdings investor presentation. Apollo emerged as a…
Read More
New Dallas-Fort Worth Committee on Texas Casino Proposals May Allay Fears
News that the North Texas Commission (NTC) will set up a committee to study proposed casino gambling in the Dallas-Fort Worth (DFW) metroplex is getting praise from some experts who follow the controversial issue. Andy Abboud, senior vice president of government relations at Las Vegas Sands, pictured above, has expressed support for casino legislation in…
Read More
Boyd Gaming Open to M&A, Execs Evasive on Penn Rumor
Boyd Gaming (NYSE: BYD) executives said they’re open to acquisitions, but they didn’t specifically mention Penn Entertainment (NASDAQ: PENN) on their company’s second-quarter earnings conference call on Thursday evening. Keith Smith, president and CEO of Boyd Gaming said the company is open to M&A, but didn’t mention Penn Entertainment. (Image: Bizuayehu Tesfaye/Review-Journal/Boyd Gaming/Casino.org) There was…
Read More
Bally’s Soars After Accepting Increased Takeover Bid From Standard General
Shares of Bally’s (NYSE: BALY) are higher by more than 25% in late trading after the regional casino operator accepted an increased takeover offer from hedge fund Standard General. Standard General founder Soo Kim. Bally’s accepted a revised $18.25 per share takeover offer from the money manager. (Image: Meet AC/Casino.org) The acquisition bid values the…
Read More
Golden Nugget Lake Tahoe Undergoing Complete Overhaul Following Acquisition
Golden Nugget Lake Tahoe in Stateline, Nev. along the California border is set for a complete overhaul of the resort casino. Golden Nugget Lake Tahoe will soon embark on a property-wide renovation of the casino resort. The project comes less than a year after Fertitta Entertainment acquired the former Hard Rock property from Paragon Gaming.…
Read More
Wisconsin Tribal Casino for Beloit Comes to Light, Ho-Chunks Maintain $405M Budget
A Wisconsin tribal casino that’s been in the works for more than six years is finally nearing the start of construction. An artist’s rendering of Ho-Chunk Gaming Beloit, a planned $405 million tribal casino in Wisconsin. The location of the tribal casino will be just 20 minutes north of where Hard Rock is building a…
Read More