5359 stories by Todd Shriber
DraftKings Named Top Gaming Idea for Second Half by Stifel
Shares of DraftKings (NASDAQ: DKNG) closed lower by almost 1% today, but some sell-side analysts remain bullish on the stock despite a loss of 18.29% over the past 90 days. In a note to clients today, Stifel analyst Jeffrey Stantial rated DraftKings...
Penn Pops on Rumor of Flutter Joining Boyd in Takeover Bid
On a mixed day for gaming stocks, Penn Entertainment (NASDAQ: PENN) rallied 4.70% on a report that Flutter Entertainment (NYSE: FLUT) is considering joining Boyd Gaming (NYSE: BYD) in a takeover bid for the regional casino operator. Boyd’s purported pursuit of Penn,...
Cosmopolitan Loyalty Program Joining MGM Rewards on July 30
More than two years after MGM Resorts International purchased the Cosmopolitan Las Vegas, the glitzy Strip venue’s Identity Membership & Rewards program will convert to MGM Rewards on July 30. MGM reached a deal in September 2021 to purchase Cosmopolitan’s rights for...
DraftKings Faces NFT Securities Suit as Judge Rules Howey Test Is Valid
DraftKings (NASDAQ: DKNG) must face class action litigation after a federal judge ruled the non-fungible tokens (NFTs) offered on the company’s DraftKings Marketplace pass muster as securities. On Tuesday, US District Judge Denise Casper ruled that the suit can proceed because the...
MGM Stock Has Makings of a Winner, Says Analyst
As highlighted by a year-to-date loss of 3.11%, MGM Resorts International (NYSE: MGM) stock has spent much of 2024 dithering, but a 7.66% jump over the past month indicates the shares have some momentum. Some analysts concur. In a new report to...
DraftKings Rumored to Be Mulling VSiN Sale in Barstool/Penn-Style Deal
DraftKings (NASDAQ: DKNG) is rumored to be considering the sale of the Vegas Sports Information Network (VSiN), the Las Vegas-based sports wagering radio network it acquired for $70 million in March 2021. Eilers & Krejcik Gaming (EKG) noted the online sportsbook operator...
Chicago Pension Mess Highlights Need for Bally’s Casino
Chicago is sitting on a ticking time bomb of underfunded public pension obligations, underscoring the need to haul in revenue from Bally’s planned permanent casino hotel -- a project some local politicians and residents view as on life support. The city’s 2023...
Nevada In-Person Requirement Hampering Sports Betting Revenue
When the Supreme Court handed down its ruling on the Professional and Amateur Sports Protection Act (PASPA) in 2018, it was widely known that Nevada would lose its monopoly on regulated sports wagering in the US. What wasn’t known to industry observers...
Wynn Resorts Stock Could Rise on High-End Strip Momentum
Data out Wednesday confirm Nevada casinos posted the best May on record in terms of gross gaming revenue (GGR), which checked in at $1.32 billion of which $742 million was attributable to the Las Vegas Strip. At least one analyst believe Wynn...
MGM Online Gaming Efforts Could Be Credit Tailwind
Earlier this week, MGM Resorts International (NYSE: MGM) said that its LeoVegas unit is acquiring the the US iGaming and sportsbook operations of Tipico Group for an undisclosed sum -- a purchase that’s already drawing praise among some analysts. The Tipico buy...
