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Stock Market & Financial Investment News

News Breaks
April 25, 2014
07:37 EDTPENN, PNK, CZR, NYNYCaesar's, Penn National among 22 to submit NY casino proposals, NYT says
22 companies, including big names such as Caesar's (CZR), Penn National (PENN), Empire Resorts (NYNY) and Pinnacle Entertainment (PNK), submitted proposals in the first step of what is expected to be an intense bidding process to be selected to develop the four new casinos approved to be built in New York State, reported The New York Times. Formal bids on the casinos are due June 30, with the board expected to make final decisions by early fall, the report noted. Reference Link
News For CZR;PENN;NYNY;PNK From The Last 14 Days
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March 24, 2015
08:35 EDTCZRSpecial examiner may force bankruptcy for Caesars Growth Partners, NY Post says
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March 23, 2015
15:18 EDTCZRCaesar's volatility at seven month lows
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07:31 EDTPENNPenn National says Plainridge Park Casino to open on June 24
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March 20, 2015
06:47 EDTCZRCreditors dispute 'inside deals' surrounding Caesars loyalty program, WSJ says
Caesars Entertainment's (CZR) customer loyalty program has been valued at $1B by creditors, who alleged in lawsuits surrounding its January bankruptcy that the Caesars parent company and majority stake holder Apollo (APO) made several improper deals designed to keep the loyalty unit inaccessible to creditors, reports the Wall Street Journal. Fitch Ratings analyst Alex Bumazhny now calls a swift bankruptcy process "increasingly unlikely," while the presiding judge gave additional scope last week to investigate the disputed deals. Reference Link
March 18, 2015
08:32 EDTPNKGaming and Leisure could pay $42/share for Pinnacle, says JPMorgan
JPMorgan believes Gaming and Leisure Properties (GLPI) could raise its offer for Pinnacle Entertainment (PNK) to $42 per share from the current $35.77 consideration. It thinks the offer at $42 would make financial sense for both companies. JPMorgan raised its price target for Gaming and Leisure to $40 from $36 and for Pinnacle to $42 from $36. It keeps Overweight ratings on both names.
07:15 EDTCZRCaesar's says disputes raise 'substantial doubt' about 'going concern' status
Caesar's stated in a regulatory filing after the close Monday that the company is subject to currently pending or threatened litigation and demands for payment by certain creditors asserting CEC is obligated under the former parent guarantee of certain CEOC defaulted debt. The litigation pending against CEOC, and in certain cases against CEC and its other subsidiaries, have been stayed due to the Chapter 11 bankruptcy process, however, certain litigation and the demands against CEC are continuing outside of the Chapter 11 bankruptcy process. "We believe that the Litigation claims and Demands against CEC are without merit and intend to defend ourselves vigorously. At the present time, we believe it is not probable that a material loss will result from the outcome of these matters," Caesar's stated. The noteholder disputes are in their very preliminary stages and discovery has begun on the unsecured note lawsuits, the company noted. "Should these matters ultimately be resolved through litigation outside of the CEOC Financial Restructuring, and were a court to find in favor of the claimants in any of these Noteholder Disputes, such determination could have a material adverse effect on our business, financial condition, results of operations, and cash flows. Accordingly, we have concluded that the material uncertainty related to certain of the Litigation proceeding against CEC raises substantial doubt about the company’s ability to continue as a going concern," Caesar's added.
March 17, 2015
06:01 EDTPNKStocks with implied volatility below IV index mean; PNK ACAD
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March 16, 2015
06:07 EDTCZRStocks with implied volatility above IV index mean; BBRY CZR
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