Steve Wynn’s exit rolls dice on his casino empire 7 Feb 2018 A tone-deaf board "reluctantly" accepted its founder and CEO's resignation following sexual misconduct allegations against him. That could placate gaming authorities from Nevada to Macau. At the same time, it makes Wynn Resorts more vulnerable to a takeover.
Wynn Resorts slide shows house can lose in new era 26 Jan 2018 Boss Steve Wynn says sexual-misconduct accusations leveled at him are “preposterous”. The $2 bln wiped off the company's shares suggests investors nonetheless fear boardroom disruption. It’s a warning to all firms that even alleged misbehavior has become a financial risk.
Our 2018 predictions on Reuters TV 31 Dec 2017 From the CEOs who should run for U.S. president, to the banks that ought to be sizing up mergers, our writers give their take on the coming year in a series of Reuters video reports.
GVC plays regulatory roulette with Ladbrokes bid 7 Dec 2017 The Foxy Bingo owner is offering up to 3.9 bln pounds for the UK bookie. That’s despite a government review that may hurt Ladbrokes’ gaming-machine business. Moving quickly makes sense for GVC, and natty financial structuring will improve its odds. The bet could still backfire.
Australia’s Aristocrat makes reckless mobile bet 30 Nov 2017 The $11 bln group's shares slumped on plans to buy online games firm Big Fish for $1 bln. A wobble in tech stocks probably doesn’t help. But the deal looks pricey, Big Fish’s recent performance is weak, and the rationale for uniting slot machines and mobile games is thin.
Vivendi doubles down on video-game mystery 17 Nov 2017 The French media group won’t buy the rest of Ubisoft in the next six months, but nor has it said it will sell its 27 pct stake. It may even forgo voting rights to avoid making a bid. That leaves investors guessing as to its long-term plan, and marking down the stock accordingly.
UK gambling crackdown boosts M&A odds 7 Nov 2017 A government squeeze on betting machines known as the “crack cocaine of gambling” could knock 20 pct off bookies’ operating profit. Extra regulation makes scale more important. Once the rules are clear, targets like Ladbrokes will be easier to value. Expect a flurry of deals.
Hong Kong tech fervour defies Western IPO wobbles 7 Nov 2017 Investors have snapped up shares in Razer, a maker of keyboards for gamers, and China Literature, an electronic publisher backed by Tencent. That contrasts with signs of IPO fatigue in New York and London. Limited supply, particularly in tech, has helped keep the market healthy.
Vivendi can unlock more time to stalk Ubisoft 1 Nov 2017 French laws may soon force the media conglomerate chaired by Vincent Bolloré to decide whether to bid for the 7 bln euro video-games group. He has more choices than putting up or shutting up. Vivendi can duck the decision by converting part of its stake into non-voting stock.
Sony’s success may delay further disentangling web 31 Oct 2017 The Japanese group riding high on Spider-Man is also thriving in games, chips and music. It now expects annual operating profit to hit a record $5.6 bln. That's testament to a long overhaul, but also increases a temptation to stay in areas like phones, TVs and financial services.
Nintendo plays its way toward market’s high score 30 Oct 2017 The Japanese company behind Super Mario Bros. hiked its annual forecast, catching up with bullish analysts. With projected Switch sales up to 14 mln, it's fresh confirmation of the console's success. That makes a valuation of 61 times expected earnings a little less cartoonish.
Sea IPO lures investors angling for next big thing 20 Oct 2017 The Singaporean startup raised nearly $900 mln in a pricier-than-expected U.S. listing. That suggests investors looked past growing losses for fear of missing out on what could become Southeast Asia’s answer to Tencent or Alibaba. Those comparisons are a stretch.
Las Vegas tragedy strikes a U.S. inured to outrage 2 Oct 2017 Casino stocks fell and gunmakers’ jumped after the worst shooting in U.S. history left at least 50 dead. Horrific as it is, the incident is unlikely to impact gun laws, markets, political debate or voters’ minds. A deeply divided country will find it hard to mount a response.
Macau investors bet casino licence luck holds 7 Aug 2017 A policy change has set off a row between authorities and land developers in the Chinese gambling enclave. Now some worry casino licences might be up for revision too. But investors are betting that foreign operators’ luck will hold when concessions come up for renewal in 2020.
Sony is turning from financial wimp into superhero 1 Aug 2017 Strong quarterly results underline a long turnaround. This will be a boom year for gaming and image sensors, while handset and TV-making have been pruned. Even Sony Pictures, co-producer of the new Spider-Man, is perking up. Shame this hero still looks like a corporate mutant.
Macau cashes in on cheap thrills and VIP perks 1 Aug 2017 The gambling hub is enjoying a flutter this year. VIP and ordinary gamers stayed at the tables in July, lifting monthly revenues to their highest level since January 2015. If China's economy cooperates, and planned capacity comes on line, the good times will roll on.
Nintendo shows mastery of multi-platform game 27 Jul 2017 The Japanese videogames giant beat forecasts, sending its shares higher. The new Switch console is a hit, while Nintendo is also getting the hang of mobile games and using characters like Super Mario offline. Now the only real drag is that the company hoards so much cash.
Hong Kong gaming IPO is not Razer sharp 13 Jul 2017 The U.S.-Singaporean firm, which makes gaming keyboards and mice, is eyeing a valuation of up to $5 bln. But Razer is loss-making and expanding into areas like laptops, mobile devices and its own virtual currency. The financial reality of these businesses is underwhelming.
Second player in Chinese gaming goes up a level 11 May 2017 Sales at NetEase are soaring and shares have almost doubled in a year. It also scored a real coup by bagging the Chinese rights to Minecraft. Yet the $37 bln group still looks cheap next to rivals Tencent and Activision – maybe because of its heavy reliance on a few hit titles.
Macau keeps gambling on gambling 5 May 2017 Gaming revenue in China's casino enclave have risen for nine straight months, and the three top players have gained $20 bln in value. But the sector still lacks a family-friendly hedge against political and economic risk. Resorts better hope their new luck holds.