Leisure/Hotels

Corona Capital: Utah Jazz, Comcast, Kraft

29 October 2020

Concise views on the pandemic’s corporate and financial fallout: Utah Jazz’s owners sign off with a respectable return; Comcast shoots the light out on broadband; and Kraft rides the stay-at-home wave.

Corona Capital: Drugmaker’s pick-me-up, Golf M&A

28 October 2020

Concise views on the pandemic’s corporate and financial fallout: Drugmaker GSK sees a recovery in vaccinations against old-school ailments; meanwhile Covid-19 turns out to be a handy driver when it comes to golf-related dealmaking.

It’s time for Sheldon Adelson to leave Las Vegas

28 October 2020

His $37 bln casino company may sell U.S. assets for $6 bln to double down on fast-growing Asian markets. That would thin its hedge against risks in Chinese Macau, but Nevada contributes barely 10% of earnings. Las Vegas Sands could use the cash for deals – and debts.

Corona Capital: Quibi

22 October 2020

Concise views on the pandemic’s corporate and financial fallout: Video streaming company Quibi’s failure is in spite of – not because of – the Covid-19 pandemic.

Crown Resorts disabused of gambler’s conceit

22 October 2020

A protest vote by shareholders has belatedly targeted the $4 bln casino operator’s cosy and inexperienced board. At least it’s forcing the Australian company to concede a shakeup is needed to clean up its mess. It’s a good reminder about why the right sorts of directors matter.

Could Bill Ackman’s SPAC buy Bloomberg or Airbnb?

21 October 2020

The media firm and the home-sharing app have both been reported as possible targets for the activist hedge fund manager’s blank-check company. His $5 billion hook could land a big fish by taking a small stake. But large, well-known private firms don't need a SPAC to go public.

Corona Capital: Kazakhs, Norwegians, Airlines

15 October 2020

Concise views on the pandemic’s corporate and financial fallout: Kaspi gives ECM bankers something to smile about; Norway’s sovereign wealth fund has a so-so third quarter; and United Airlines has more bad news on jobs.

Corona Capital: NBA, Polish e-commerce, Tesco

12 October 2020

Concise views on the pandemic’s corporate and financial fallout: A major basketball bake-off fails to pull in the online crowds; Poland’s biggest e-commerce company flies from the shelves; and UK grocer Tesco wrestles with supply chain problems.

Macau casinos now playing for an inside straight

8 October 2020

China’s long holiday break has brought few visitors to the Asian gambling hub. That makes it hard to accept rosy forecasts that revenue at Sands, SJM and Galaxy will reach more than 85% of pre-pandemic levels next year. It’ll take consumer exuberance and policy help to get there.

Corona Capital: Donald Trump, Kenzo Takada

5 October 2020

Concise views on the pandemic’s corporate and financial fallout: U.S. President Donald Trump’s fight with the coronavirus could lead to a less fiercely contested election result; the death of Japanese designer Kenzo Takada comes at a bad time for the global fashion industry.

Corona Capital: U.S. jobs, Real estate

2 October 2020

Concise views on the pandemic’s corporate and financial fallout: Americans slowly get back to work; New York City real estate sales fly to Florida.

Corona Capital: U.S. sports’ virus-bubble success

29 September 2020

Concise views on the pandemic’s corporate and financial fallout: Professional hockey and basketball associations scored victories keeping infection rates low or at zero in spectator-free games. And less traveling and more sleep helped players up their game. Wall Street take note.

Corona Capital: Vaccines, Olive Garden, Oil

24 September 2020

Concise views on the pandemic’s corporate and financial fallout: Vaccine concerns are bad for the economy; cravings for never-ending pasta bowls return; and oil practitioners tell sad truths.

Corona Capital: LVMH and Macron, Eyewear deals

23 September 2020

Concise views on the pandemic’s corporate and financial fallout: LVMH has friends in high places; 1-800 Contacts has semi-disposable owners.

Corona Capital: Coca-Cola, Viral inequality

22 September 2020

Concise views on the pandemic’s corporate and financial fallout: Coca-Cola, once an icon of temperance, is diving into the hard seltzer market; and California is considering using the disparity in numbers of Covid cases between neighborhoods to steer its response.

Corona Capital: Playboy, Mondelez

21 September 2020

Concise views on the pandemic’s corporate and financial fallout: The owner of perhaps the most famous adult magazine is hoping a SPAC can give it a new lease on life; Mondelez wants to expand its range of healthy snacks – but they’re not always the best money spinners.

New lockdowns will amp up next phase of booze war

21 September 2020

Alcohol is in the cross hairs as Britain eyes harsher measures to stem infections. Outright prohibition is unlikely but even temporary bar closures will add to the pain of Diageo, Bud and others. As other countries may follow, their buoyant shares are heading for a hangover.

Corona Capital: Newspaper rivals, College football

17 September 2020

Concise views on the pandemic’s corporate and financial fallout: the Wall Street Journal hits up the New York Times’ printing presses; U.S. college football’s Big Ten makes a comeback.

Corona Capital: Peloton, New York City

11 September 2020

Concise views on the pandemic’s corporate and financial fallout: Peloton is on a tear with earnings exceeding expectations but it may burn out soon; more than 150 business leaders write to Mayor Bill de Blasio over the Big Apple’s deteriorating conditions.

Corona Capital: Testing, Flights, Football

10 September 2020

Concise views on the pandemic’s corporate and financial fallout: U.S. lab-testing group Quest announces speedy growth; IAG’s gloomy horizons have a silver lining; and NFL football comes charging back.