Best Skrill Online Casinos For Real Money 2024
Our Top 3 Skrill Casinos – Why They’re The Best Explore my top picks for Skrill casino sites in the US: 1. bet365 Best for: Fast Skrill withdrawals bet365 is a name that is synonymous with gambling worldwide, and it has quickly become a popular choice in the US since it arrived in 2018. It’s our top choice for those looking for a trusted online casino that offers quick and convenient Skrill transactions. Depositing with Skrill at bet365 couldn’t be easier. Simply sign up, click “Deposit,” select and log into Skrill, and enter your deposit amount. You’ll need to make a minimum deposit of at least $10, and it’ll be instantly credited to your account. High rollers will be pleased to find a maximum deposit limit of $38,000, accommodating larger transactions. If you have deposited with Skrill, withdrawals will be processed back to your Skrill account. What I love about bet365 is how fast it is to withdraw funds using Skrill. When I tested this out, it took two hours for my withdrawal to be approved and sent to my Skrill account. It’s one of the fastest options to get your hands on your winnings. You’ll need to withdraw a minimum of $10, with the maximum allowed being $38,000. bet365 is available for players in New Jersey and Pennsylvania. You can enjoy a collection of around 400 games, including slots, jackpots, poker, and table games. Another strength of bet365 is its highly-rated mobile app, where you can easily access your account, play games, and make Skrill deposits and withdrawals. Why Choose bet365 Casino? ✅ Deposit $10, Get up to 200 Spins✅ 1 to 4-hour Skrill withdrawals✅ $38,000 maximum for deposits Claim your bet365 promo 2. Borgata Casino Best for: Gaming library Borgata Casino is the online casino arm of the iconic Borgata Hotel & Casino Spa. It is only accessible to those in New Jersey. Skrill is supported for both deposits and withdrawals at Borgata. Deposits can be made through the “Cashier” tab by signing into your Skrill account. Your deposit will be immediately available in your account to start playing games. There isn’t a specified maximum limit for deposits. Withdrawals can be made through Skrill if you’ve used it to deposit in the last six months. After you’ve chosen “Withdrawal” in the cashier tab, enter the preferred amount and wait for the request to be reviewed by the Borgata team. In my case, it took just 22 hours exactly for my payout to be processed to my Skrill account. You must request at least $10 for your payout, a maximum of $10,000. My highlight for Borgata is the huge collection of over 2,000 games; you will never run out of titles to explore in its library. Since MGM Resorts owns Borgata Casino, you can receive all the benefits from the renowned MGM Rewards scheme. Why Choose Borgata Casino? ✅ ✅ 24-hour Skrill withdrawals✅ 2,000+ games Claim your Borgata promo 3. Party Casino Best For: Party Pots Party Casino is exclusively available in New Jersey and operates through a partnership with Borgata. For this reason, you can find many Borgata-exclusive games on the site, and the software of each site is somewhat similar. Skrill is supported for both deposits and withdrawals, although you need to have made a deposit within 180 days to request a Skrill withdrawal. As usual, Skrill deposits are processed instantly. Withdrawals at Party Casino are subject to an internal review, which can take up to three business days. Following that, the money should hit your Skrill account within 24 hours. In my experience, it has taken a total of three days for my cashout to appear in my Skrill. Deposits start at $10, while the maximum you can withdraw via Skrill is $10,000. My favorite thing about Party Casino is their unique Party Pots system of progressive jackpots. To take part, you just need to play the selection of eligible games each week. There are three jackpots running simultaneously: The Mini Mystery which has to be paid out before it hits $300 The One and All which has to be paid out before it hits $1,000 and is split between two people The Community Share which is paid out evenly to everyone who has participated when it triggers I’m a big fan of these smaller limits, which feel more accessible to casual players. You can check how far each jackpot is off-triggering on the progress bars in the Party Pots section. Why Choose Party Casino? ✅ 200% Deposit Match up to $100✅ Party Pot progressive jackpots✅ Exclusive games Claim your Party Casino promo Skrill Casinos Compared Check out how my top Skrill casino sites compare below: CasinoDeposit timeMax. depositWithdrawal timeMax. withdrawalFeesbet365Instant$38,0001-4 hours$38,000NoBorgataInstant-24 hours$10,000NoPartyCasino Instant N/A3 days$10,000No Skrill Sweepstakes Casinos Sweepstakes casinos offer casino-style games without playing with real money, making them legally accessible in most states where traditional gambling is restricted. These platforms operate under sweepstakes laws, and players can participate in games using virtual currencies called Gold Coins and Sweeps Coins. Gold Coins are solely for gameplay, but winning Sweeps Coins can be redeemed for prizes. While players don’t deposit funds, they can purchase Gold Coins, although they aren’t required to do so. Skrill is one of the available options for purchases at sweepstakes sites. While Sweeps Coins can’t be purchased, they can be redeemed for cash prizes. Along with bank transfers and gift cards, Skrill is one of the few methods available for redemptions at sweepstakes casinos, and it is typically the fastest option. It is more available at sweepstakes casinos than real-money casinos in the US. The following sweepstakes casinos accept Skrill: What Is Skrill? Skrill is an e-wallet service that allows users to store their funds, send payments, and receive money. It is well-known for use in gambling, being a popular option at online casinos worldwide, although it is less common for betting in the US. Depositing and withdrawing funds through Skrill is easy and secure. Essentially, Skrill acts as a middleman between
SIS partners with leading operator 888Africa to provide live numbers draws – Casino & games
SIS (Sports Information Services), the leading multicontent supplier of 24/7 live betting services, has partnered with 888Africa to provide its comprehensive numbers offering to the operator. The integration with 888Africa, facilitated by a region-specific iframe developed alongside Bitville Gaming, will see the operator gain access to the full suite of over 200,000 live draws. These include the original 49s live draw, 39s and Fast 15s. The content is presented through a clean, attractive, and engaging front end to maximise the player experience. The launch will significantly enhance the reach of SIS across Africa, where the live numbers draw product suite has already enjoyed great success. Operating for over 27 years, the SIS-owned 49s is the original live draw and brings credibility and integrity to fixed-odds numbers betting. To complement this, 39s and Fast 15s offer high-frequency events that run every three minutes while maintaining healthy margins for operators. Launched in 2022, 888Africa licences 888 Holdings’ world-class betting and gaming brands across Africa’s regulated online markets. Currently live in Kenya, Tanzania, Mozambique and Zambia through 888bet, the operator offers a unique betting experience with relevant products and features which will now include live draw offerings which have proven to be popular with audiences. Joe Andrews, head of sales Africa at SIS, said: “The appetite for live numbers draws in Africa has grown rapidly and partnering with 888Africa will significantly increase our product visibility. Bitville Gaming has great reach in the region, and we are thrilled that our partnership is already delivering the widest range of content to operators.” Ian Marmion, chief operating officer at 888Africa said: “Our ability to widen our offering to our partners is always important to us, and the portfolio of live numbers draws from SIS will provide a huge boost in maximising engagement. The content is a proven performer across Africa and I am sure our audiences will welcome this enhancement to our offering.” Andrew von Hoesslin, chief executive at Bitville Gaming, said: “The aim of our agreement with SIS was to provide a bigger operator network for its content and we are seeing this happen first-hand. We are sure that 888Africa and its players will be delighted with the influx of additional wagering opportunities.” Source link
Booming Games expands in East Africa with Maybets launch – Casino & games
Booming Games, a premier provider of cutting-edge casino games, partners with Maybets to offer an exciting gaming experience to the East African market. Booming Games has officially partnered with Maybets, a leading online betting and gaming platform in East Africa, to deliver a rich variety of innovative casino games to its players. This collaboration marks an exciting expansion for Booming Games into the growing East African market, particularly Kenya, where Maybets is one of the most popular platforms. As part of the partnership, Maybets will now feature a broad selection of Booming Games’ top-tier titles, known for their engaging gameplay, premium graphics and unique bonus features. Players on Maybets will have access to an ever-evolving portfolio of casino games designed to enhance their gaming experience with dynamic features such as free spins, multipliers, and interactive bonus rounds. This move aligns with Maybets’ commitment to delivering the best gaming experiences to its users, ensuring a wide variety of content that caters to both seasoned players and newcomers. Chris Onyango, head of product & marketing at Maybets, said: “We are thrilled to bring Booming Games’ highly engaging and top-quality casino games to our platform. At Maybets, we are always looking to provide our users with an unparalleled gaming experience and this partnership is a testament to that commitment. “We are confident that the integration of Booming Games will not only enrich our casino offerings but also elevate player satisfaction and retention across the board.” Solomon Godwin, head of Africa at Booming Games, said: “We’re thrilled to continue our expansion in the East African market and partnering with Maybets, a strong and trusted brand, allows us to strengthen our foothold even further. Their established reputation and commitment to quality perfectly align with our growth strategy and we’re confident that this collaboration will enhance our presence and bring even more exciting opportunities to the region. “We look forward to a fruitful partnership with Maybets as we work together to expand our offerings and reach more customers across East Africa.” Source link
Five best casinos in Europe worth visiting — Retail Technology Innovation Hub
A European casino trip isn’t something you want to rush into. You need to plan smart if you want to get the most out of it. From understanding the dress codes to managing your budget, preparation is key. Here are some quick tips to make sure your trip goes smoothly: ● Know the Dress Code: Some of these places are strict – Monte Carlo, especially. Make sure you pack the right outfits. ● Travel in Off-Peak Times: Avoid the summer rush and score better hotel deals. ● Set a Budget: Don’t just set a gambling budget – account for fine dining, spa days, and more. ● Brush Up on Game Rules: European casinos sometimes have different variations of the games. ● Know the Local Currency: Be prepared for different currencies, especially if you’re hopping between countries. By keeping these tips in mind, you’ll be well-prepared to navigate the sophisticated world of European casinos with confidence and style. Remember, the goal is not just to gamble, but to immerse yourself in the unique atmosphere and cultural richness that these historic establishments offer. Whether you’re a seasoned high roller or a curious newcomer, a well planned trip to the best casinos in Europe promises an unforgettable combination of excitement, luxury, and cultural discovery. Conclusion The best casinos in Europe offer more than just a roll of the dice. Whether you’re after the grandeur of Monte Carlo or the cultural charm of Venice, these five casinos bring together the perfect mix of history, luxury, and gaming excitement. And it’s not just about what happens at the tables. The food, the entertainment, the stunning architecture – it all adds up to a world-class experience. FAQ What’s the dress code for the best casinos in Europe? Most luxury casinos require formal wear in the evenings, especially at places like Monte Carlo. Can tourists gamble at European casinos? Yes, tourists are welcome at most European casinos, but you may need ID and might be charged a small entrance fee. What’s the legal gambling age in Europe? The legal age varies, typically ranging from 18 to 21 depending on the country. Can I use euros at all European casinos? Many casinos accept euros, but it’s always smart to check and be prepared with the local currency. Source link
Pub Casino Unveils ‘Cloud Princess’ Slot Game in Partnership with Hacksaw Gaming
In a move set to excite online gaming enthusiasts, Pub Casino has announced the release of its latest slot game, ‘Cloud Princess,’ developed in partnership with renowned game provider Hacksaw Gaming. This new addition to Pub Casino’s growing portfolio promises to elevate the online gaming experience with its enchanting theme and innovative features. ‘Cloud Princess’ transports players to a magical realm high above the clouds, where they embark on an adventure guided by a celestial princess. The game boasts a 5×5 grid with cascading reels, a unique Cloud Bonus Feature, and high volatility for potentially significant wins. Its stunning visuals and captivating soundtrack are designed to immerse players fully in the fantastical setting. The launch of ‘Cloud Princess’ underscores Pub Casino’s commitment to offering diverse and engaging content to its player base. As an online casino platform that aims to recreate the social atmosphere of a traditional pub in the digital space, Pub Casino has been steadily expanding its game library with both classic favorites and cutting-edge releases. A spokesperson for Pub Casino expressed enthusiasm about the new game, stating, ‘Cloud Princess is the perfect example of our commitment to providing fresh and engaging content. We’re confident that our players will love both the incredible gameplay and the immersive, magical theme.’ Hacksaw Gaming, known for its innovative approach to game development, has brought its expertise to ‘Cloud Princess.’ The company has a track record of creating award-winning slot games that push the boundaries of online gaming. Their collaboration with Pub Casino on this project aims to deliver a high-quality gaming experience that stands out in the competitive online casino market. To celebrate the launch of ‘Cloud Princess,’ Pub Casino is offering special promotions for players, including bonus spins on the new slot and exclusive rewards for top performers. These offers are designed to encourage both new and existing players to explore the magical world of ‘Cloud Princess.’ The release of ‘Cloud Princess’ comes at a time when online casinos are increasingly focused on providing unique and immersive gaming experiences to attract and retain players. With its combination of innovative gameplay mechanics and a captivating theme, ‘Cloud Princess’ represents a significant addition to Pub Casino’s offerings. As the online gaming industry continues to evolve, collaborations between casino platforms and game developers like the one between Pub Casino and Hacksaw Gaming are becoming increasingly important. These partnerships allow for the creation of games that not only meet the technical standards of modern online gaming but also provide the engaging content that players seek. The launch of ‘Cloud Princess’ at Pub Casino marks another step in the platform’s growth and its efforts to establish itself as a leading destination for online gaming enthusiasts. As players begin to explore this new magical realm, the industry will be watching to see how this latest offering impacts Pub Casino’s position in the competitive online casino market. For those interested in experiencing ‘Cloud Princess,’ the game is now live and available exclusively at Pub Casino. Players can find more information about the game and Pub Casino’s offerings on the platform’s website. As with all online gambling activities, players are reminded that they must be at least 18 years old to participate in the UK. Source link
Almost Half of Carnival Fleet Now Offers Non-Smoking Casinos
With several Carnival cruise ships receiving significant updates during recent dry docks – including Carnival Panorama earlier this month – more and more non-smoking casinos are now available across the Fun Ship fleet. Carnival Cruise Line Brand Ambassador John Heald has confirmed exactly which ships offer a non-smoking casinos, which can help travelers plan which ship they next want to sail on, if such venues are significant to their preferences. The ships that currently have non-smoking casinos are include all three Dream-class vessels: Carnival Dream, Carnival Magic, and Carnival Breeze. Likewise, four of the line’s Vista-class sister ships, Carnival Vista, Carnival Panorama, and two of the “Italian Style” ships, Carnival Venezia and Carnival Firenze, feature non-smoking casinos. Finally, all three of Carnival’s largest ships, the Excel-class Mardi Gras, Carnival Celebration, and Carnival Jubilee have non-smoking casinos. This brings the total of committed non-smoking casinos onboard Carnival ships to 10 with the new addition aboard Carnival Panorama, but there are also other non-smoking casinos in certain regions. Carnival Splendor and Carnival Luminosa also have “no smoking rules” while the ships are homeported in Australia. When sailing in Alaska for the northern summer season or when deployed to other regions, the ships do not have non-smoking casinos as yet. The move to add non-smoking casinos onboard has been increasing over the past few years, particularly as smoking rates in the US have declined. According to Statista.com, when Carnival Cruise Line was first founded in 1972, roughly 48 million adults in the US were smokers. In 2021, the most recent year for which data is available, that number had declined to 28 million. Further adjustments may be coming to Carnival Cruise Line’s casinos if guest feedback is factored into future operational decisions. Many travelers would prefer that the smaller casino rooms, sections, and annexes – which are currently designated as the non-smoking areas – be swapped into the smoking areas, with the larger main casinos used as non-smoking facilities. Opinions can be sharp on either side, however, and every traveler is different. Some Carnival guests cite medical concerns, such as asthma or COPD, as reasoning for better separation between smoking and non-smoking venues. Others note that the smell of smoke can permeate all nearby areas and waft into hallways and corridors, even if they are designated as non-smoking. It should be noted that even inside the smoking casinos, Carnival Cruise Line does use sophisticated air filtration to help clean the air and control odors. All travelers should be aware that during embarkation day when most ships’ casinos are serving as muster stations for guests to check in as part of their safety drill, all casinos are fully non-smoking spaces. Once the muster drill is complete, smoking will be allowed. Where Is Smoking Permitted Onboard? All Carnival ships do offer designated smoking areas. These are located on various outer decks and are clearly marked. Smoking in other areas, such as around the main pools, in restaurants, or in the adults-only Serenity area, is strictly prohibited. Non-Smoking Casino on Carnival Cruise Line Furthermore, the cruise line has strongly debunked an internet “hack” that an extra tip to one’s cabin attendant would encourage them to “look the other way” for smoking on a cabin balcony, which is simply not true. Any guest found to be smoking on the balcony would be subject to severe fines as per the cruise ticket contract. Read Also: Can You Smoke on a Cruise Ship? – What to Know All Carnival guests should note, however, that no smoking is permitted anywhere onboard during ship refueling operations, whether on embarkation day or if a ship is in a port of call. Once refueling is complete, an announcement would be made and smoking areas would reopen. If guests are unable to locate a smoking area, a quick visit to Guest Services and a polite question would offer great help, as crew members would be happy to direct passengers to the nearest smoking area onboard. Source link
Latest Diddy Sex Lawsuit Names Las Vegas
Posted on: October 21, 2024, 06:49h. Last updated on: October 21, 2024, 07:10h. Las Vegas was the setting for one of seven new lawsuits charging Sean “Diddy” Combs with sexual abuse. It was filed on behalf of an unidentified Arizona woman who claims the rap mogul drugged and raped her at Planet Hollywood in 2014. The alleged crime scene was Combs’ suite at the Las Vegas Strip casino resort, where he directed the plaintiff to an area with open bottles of alcohol. After two drinks, according to the court filing, the plaintiff felt disoriented, then woke up the next morning and “was horrified to realize she was raped by Combs.” The civil complaint, alleging battery and false imprisonment, was one of seven filed Sunday against Combs in the Southern District of New York by Texas-based attorney Tony Buzbee. How It Began The nightmare predicament began earlier that evening at a celebrity-studded Memorial Day pool party at Club Rehab at the former Hard Rock Hotel & Casino (now Virgin Hotels Las Vegas). Present at the party, according to the lawsuit, were Combs, Nicki Minaj, and Mary J. Blige and Lil’ Kim — both of whom Combs produced music for. The plaintiff had been invited to Club Rehab by a promoter going by the alias “International Smoove.” “Smoove made it clear that this was an exclusive celebrity party and plaintiff’s two friends were not invited, only plaintiff,” the lawsuit states. “Despite having some awkwardness with this prohibition, plaintiff, with the encouragement of her friends, decided to attend the party to network with the influential people there.” Smoove then invited the plaintiff back to the after-party at Combs’ Planet Hollywood suite, where she recorded video of Combs before being offered a drink, which the lawsuit alleges was laced with the date-rape drug GHB (Gamma-Hydroxybutyrate). “Plaintiff did as was suggested by Combs and took a few sips of what she thought to be vodka from one of the open bottles, but about 40 minutes after having 1-2 drinks from the Ciroc bottle, plaintiff began to feel nauseated and dizzy, slowly losing control of her motor functions,” the lawsuit states. When the plaintiff told “Smoove” she didn’t feel well and needed to leave, according to the filing, he directed her to an empty bedroom in the suite and told her to lie down until she felt better. “As soon as she awoke,” the complaint states, the plaintiff “saw Combs in the corner of the room, shirtless and yelling loudly and with animation at someone over the phone. He was the only person in the room with her and it was clear that someone else had been in the bed with her.” According to the lawsuit, the woman waited for Combs to leave, then returned to the Rio, where her friends were staying. The complaint alleges that she then slept for two days, through several attempts by her friends to awaken her. “In the aftermath of the assault, plaintiff struggled with intense emotional pain and mental health issues, feeling disgusted and deeply depressed,” the lawsuit states. “Not a day goes by for plaintiff without thinking of the traumatic incident.” Combs, 54, remains in custody in New York, where he is scheduled to stand trial in May 2025 on federal sex trafficking, racketeering and conspiracy charges. Source link
Chukchansi Gold Casino Hit with Protests Against Disenrollment
Posted on: October 21, 2024, 06:02h. Last updated on: October 21, 2024, 06:02h. Visitors to the Chukchansi Gold Resort & Casino, near Fresno, Calif., Saturday witnessed around 100 people outside the premises protesting against its owner, the Picayune Rancheria of Chukchansi Indians. The Chukchansi Gold Resort & Casino in Coarsegold, Calif., above, was the scene of demonstrations against the tribe’s controversial disenrollment policy. Since the casino opened in 2003, the tribe has excluded more than half its members. (Image: Chukchansi Gold) The demonstrators were out in force to oppose the Chukchansi’s practice of disenrollment, YourCentralValley.com reported. They claim the policy is an attack by the tribe on its own people motivated by greed for casino revenue. Around 80 of America’s 567 federally recognized tribes are known to have disenrolled members, but the Chukchansi Tribe is one of the worst offenders. Since the casino opened in 2003, it has excluded more than half its members. This includes those with documented ancestry, families descended from tribal founders, and some of the last native speakers of the tribal language. What is Disenrollment? The practice strips members and their descendants of their citizenship of a tribal nation, along with the associated benefits, such as housing, healthcare, and their share of casino revenue. It’s ostensibly used to correct tribal rolls and preserve the integrity of the tribe, but critics say some tribes wield it as a political or economic weapon. Protestors who spoke to YourCentralValley.com Saturday claimed that’s the case with the Chukchansi Tribe, which sent notice to 49 members in mid-March to say they would be expelled. We lost our home because of this,” one man, who preferred to remain anonymous, said. “My kids had to move schools and most importantly my kids are losing their heritage.” Casino.org reported in 2019 the removal of 60 members from the roll. In many cases, the disenrollments occurred between rival factions jostling for control of the tribal council and its casino wealth. The casino generates around $43.7 million in revenue each year, according to a 2022 estimate. Since it opened in 2003, the tribe has disenrolled more than half its members. “We have provided paper documentation – proving our identity with Chukchansi. Yet they turn a blind eye because they’re trying to increase their per capita payments,” former tribal board member Claudia Gonzales told YourCentralValley.com. 2014 Armed Takeover In October 2014, this power struggle spilled into violence when about 20 armed men from a rival faction stormed the casino after a disputed election. As casino patrons ran for cover, the assailants marched security guards at gunpoint into a secure area of the building where they were handcuffed and reportedly assaulted. The men claimed they had stormed the casino in search of accounts that were overdue for submission to the National Indian Gaming Commission to avoid receiving a penalty charge for late filing. A federal judge ordered the casino to close, and it remained so for over a year, which cost the tribe millions. The leader of the coup, Tex McDonald, was sentenced to 485 days for false imprisonment. Source link
Residents concerned that Coweta casino will ‘bring them down’
COWETA, Okla. — The city of Coweta is gearing up for a massive economic boom, but the people who live there aren’t sold on the Muscogee Creek Nation’s casino moving in. Residents like Debra Fury tell 2 News the reason they love living in Coweta is because of the small town feel. She and her neighbors fear the casino could change all of that. “I like small towns, you know, and where you know everybody,” she said. “That’s how Coweta used to be, but it’s got to where more people have been coming in, leaving Broken Arrow, coming to this area and we don’t know them.” The $100 million investment is set to bring a hotel and restaurant in tow, providing at least 250 jobs for the community. That growth, though, is pushing people like Fury away. “I don’t think it’s going to help us, I really don’t, I think it’s going to cause more problems to have a casino in Coweta than anything,” said Fury. “It’s going to bring in a lot of different kind of people. There’s going to be good people, but it’s going to bring in some bad people to.” Muscogee Nation Casinos The casino will reside right off SH-51 and 131st St., but right across that street are people’s homes. The location also worries Fury, as she said that busy highway is notorious for accidents. Fury and other’s are afraid their otherwise quiet community will become unrecognizable after their new neighbor opens it’s doors. 2 News asked Fury if she ever considered moving, because of how against the casino she is. “Well we talked about that,” she said. “We thought maybe it might be time for us to go ahead and leave, you know sell our house, and go further where a small town is like Haskell or Porter, out that way.” She said a number of her neighbors are also apprehensive. We asked Fury what she would like to see leaders do to make things safer and stay on top of any changes the casino may bring to the community. “I know we got some new police cars, so I hope they’re going to hire more police officers to have on that property and in the downtown area to keep it safe for the kids, because at night time that’s when people go to the casino and you never know what’s going on,” said Fury. 2 News took those concerns to Coweta’s City Manager Julie Casteen. She was unavailable for an interview, but did answer some of our questions. In an emailed statement, Casteen said: The MCN provides extensive security around their gaming properties. In speaking with city managers for other communities where they have built casinos, the change in the crime rate has been minimal. I was impressed with the statement made by one of the gaming officials when this concern was raised; he stated that his intent is always to make their facilities a place where he would feel comfortable sending his wife to without him. The members of the MCN are no different than our citizens; they live in Coweta, and they want it to remain a safe, low-crime environment. Still, Fury believes things are changing for the worse. “There’s a lot of old people, elder people in here, like myself, and we like it quiet.” The casino is set to open in the spring of 2026. Stay in touch with us anytime, anywhere — Source link
MGM Makes Cut in Goldman Sachs ‘Buyback Basket’
Posted on: October 21, 2024, 03:58h. Last updated on: October 21, 2024, 03:58h. MGM Resorts International’s (NYSE: MGM) long-standing commitment to repurchasing its own shares is well-known on Wall Street. Bellagio Las Vegas. Operator MGM is featured in the Goldman Sachs buyback basket. (Image: MGM Resorts) Those efforts have not only resulted in a significant reduction to the casino giant’s shares outstanding tally, but also some accolades of sorts. For example, the gaming stock was included in the newest iteration of the Goldman Sachs buyback basket — a collection of stocks of dedicated that share repurchasers that, in aggregate, often beats the S&P 500. Last year, share repurchase activity among S&P 500 member firms declined 13% due to high interest rates and a 1% tax on buybacks, but Goldman sees buyback activity rising 13% this year and 15% in 2025. Relative to 2024, a modest decline in valuations and a normalization of the lending environment should support a modest reacceleration in buyback growth,” said David J. Kostin, chief U.S. equity strategist, in a note. “However, we expect interest rates will remain around current levels, constraining debt-funded buyback activity.” The bank forecasts financial services and technology as the sectors most likely to account for the biggest percentages of S&P 500 buyback activity. MGM Consumer Cyclical Buyback Leader MGM, which sports a trailing 12-month buyback yield of 14%, is one of just five consumer discretionary names in the Goldman buyback basket and the lone gaming name. Other metrics used are availability of credit, earnings growth rates, interest rates, and valuation. Last year, the Aria operator bought back $2.3 billion of its own shares and announced a new $2 billion buyback program in November 2023. In the second quarter, the gaming company repurchased $400 million worth of its shares and as of the end of that period, it has reduced its shares outstanding count by nearly 40% since 2021. MGM’s buybacks are pertinent to investors because share repurchases are more tax-efficient than dividends, and unlike some rivals, the operator hasn’t restored its quarterly payout, which was cut during the early days of the COVID-19 crisis. MGM’s buyback leadership has also arguably been a catalyst in driving rival casino operators to up their purchases of their shares. MGM Buybacks Standout As Goldman’s Kostin noted, if interest rates don’t decline materially, many companies could eschew buybacks because some previously fund that method of returning capital to shareholders by issuing debt at low interest rates. That makes MGM’s buyback efforts compelling because the gaming has largely fund its repurchases out by way of its rising free cash flow, not by selling bonds. At the end of the second quarter, the company had $2.4 billion in cash on hand, indicating it has the resources to maintain a solid pace of share count reduction. The Bellagio operator reports third-quarter results on Oct. 30 and it’s possible it will provide an update on recent buyback activity and related plans at that time. Source link
