Category: Mergers-Acquisitions
Tilman Fertitta Ambassadorship Would Lengthen Odds of Wynn Activism
Tilman Fertitta’s potential appointment as US ambassador to Italy could diminish the chances he takes on an activist role at Wynn Resorts (NASDAQ: WYNN), the casino operator in which he owns nearly 10% of the stock. Golden Nugget CEO Tilman Fertitta’s potential appointment as ambassador to Italy lowers the likelihood of him becoming an activist…
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Penn Entertainment Lifted by JPMorgan Upgrade
Shares of Penn Entertainment (NASDAQ: PENN) closed higher by 3.90% today on volume that was well above the daily average after JPMorgan upgraded the gaming stock. A slide from a Penn Entertainment investor presentation. JPMorgan upgraded the stock today, sparking a rally. (Image: Penn Entertainment) In a new report to clients, analyst Joseph Greff lifted…
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Wynn Unlikely to See Activist Action, Says Analyst
Wynn Resorts (NASDAQ: WYNN) stock is higher by 10.09% over the past month, a period in which a well-known investor upped his stake in the casino operator, but some analysts don’t believe a takeover offer is on the table. Wynn and Encore on the Las Vegas Strip. An analyst is bullish on the operator’s bonds…
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Flutter Stock Could Double in 4 Years, Says Analyst
Shares of Flutter Entertainment (NYSE: FLUT) closed higher by 1% today after an analyst said the stock has the potential to more than double to $600 over the next four years. The gaming equity closed at $277.47 today. The Flutter logo as seen in an investor deck. An analyst says the stock could more than…
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VICI Inks Deal with IGP for Canadian Casinos
VICI Properties (NYSE: VICI) announced Tuesday that it amended its master lease agreement with Pure Canadian Gaming Corp., owing to the acquisition of that company’s operating assets by Indigenous Gaming Partners (IGP). Pure Casino Lethbridge. Real estate owner VICI Properties amended its lease on the Canadian casino and three others. (Image: Travel Alberta) In January…
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Bally’s Investors Approve Standard General Takeover
Bally’s (NYSE: BALY) announced Tuesday that its shareholders approved a previously announced takeover by Standard General, the hedge fund that’s the biggest investor in the regional casino operator. Standard General founder Soo Kim. The hedge fund’s takeover of Bally’s was approved by investors. (Image: Meet AC/Casino.org) In March, Standard General, which is controlled by Bally’s…
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Fertitta Unlikely to Pursue Wynn Takeover, Says Analyst
Tilman Fertitta increased his stake in Wynn Resorts (NASDAQ: WYNN) to nearly 10% of the shares outstanding, but one analyst believes the Golden Nugget chief executive officer is unlikely to purse an acquisition of his rival. Billionaire businessman Tilman Fertitta. He’s unlikely to pursue an outright acquisition of Wynn Resorts. (Image: Bloomberg) In a new…
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Endeavor CEO Ari Emanuel Buys Sports Betting Units at Big Discount
Endeavor Group Holdings, Inc. (NYSE: EDR) announced that it’s selling its IMG Arena and OpenBet sports betting businesses to a group led by CEO Ari Emanuel. The sale price is $450 million. Endeavor CEO Ari Emanuel is leading a group that’s acquiring OpenBet and IMG Arena for $450 million. (Image: Getty) OB Global Holdings LLC…
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Investor Jason Ader Jet Sets Around the World While Facing Lawsuits
Jason Ader, the founder of a blank-check company that attempted to bring the Okada Manila casino resort public, is gallivanting around the world while facing litigation, including from his mother, as clients of his hedge fund demand their cash be returned to them. Investor Jason Ader has been spotted traveling the world as his hedge…
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Golden Entertainment Hints at Real Estate Sales
Shares of Golden Entertainment (NASDAQ: GDEN) rose on Friday after executives hinted they’re examining avenues for monetizing the casino operator’s real estate assets. Golden Entertainment’s Strat Las Vegas. The operator said it is examining options for real estate holdings. (Image: Vegas Means Business) The comments were made on a conference following the company’s third-quarter earnings…
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