MGM guidance sparks another casino stock sell-off


WPLG—Bargains along the Las Vegas strip are good news for gamblers and bad news for casino investors. MGM Resorts sparked more pain for the gambling sector when it warned Thursday that bookings and room prices in the third quarter were lower than expected. The guidance sent shares of MGM, which also reported sharply lower second quarter earnings, down about 3% in early trading. Wynn Resorts and Penn National Gaming were also trading lower on the news. CEO Jim Murren downplayed the significance of the...

KamaGames will sell cryptocurrency tokens for social casino games. KamaGames, a big European operator of social casino games, said it is moving into blockchain and cryptocurrency with the launch of its own KamaGames Token. The whole idea is to make it easier for the company’s more than 100 million players to purchase in-game currency for the social casino games, said Andrey Kuznetsov, CEO of […]