4975 stories by Todd Shriber
Standard General Offers $15 a Share For Bally’s, Down More Than 50% From 2022
Soo Kim’s Standard General, the hedge fund that controls 23% of Bally’s (NYSE: BALY) equity, offered to acquire the remainder of the regional casino operator for $15 a share, valuing the target at a 41% premium to the March 8 close. While...
FanDuel Rumored to Replace GambetDC in US Capital City
The widely criticized GambetDC mobile sports wagering application could be on borrowed time in the nation’s capital. That's amid rumors that FanDuel will replace it. A Friday letter was penned by Office of Lottery and Gaming (OLG) Executive Director Frank Suarez to...
Wynn CEO Craig Billings Calls iGaming Cannibalization Debate ‘Reductive’
The debate pertaining to online casinos potentially damaging their land-based counterparts is, to this point, “reductive.” So wrote Wynn Resorts (NASDAQ: WYNN) CEO Craig Billings in a Saturday post on LinkedIn. Billings said he’s “neutral” on the matter, owing to the facts...
ESPN Bet Making Progress, North Carolina Could Be Big, Says Analyst
On the back of a steep fourth-quarter loss notched by the newly minted ESPN Bet mobile application, shares of Penn Entertainment (NASDAQ: PENN) are struggling. But at least one analyst sees runway for the company to get things right with online sports...
Sands Leads 2023 Macau GGR Share, MGM, Wynn Gain
Sands China -- the Macau arm of Las Vegas Sands (NYSE: LVS) -- was the biggest gainer last year in terms of share of Macau gross gaming revenue (GGGR). In a new report to clients, Deutsche Bank noted total GGR in the...
Genius Sports Has Runway for Growth, Says Analyst
Coming off solid fourth-quarter results, one analyst says Genius Sports (NYSE: GENI) could have multiple growth tailwinds this year and the potential to generate free cash flow. While the stock slid 5.84% Thursday after the sports betting data provider said fourth-quarter revenue...
Jake Paul’s Betr Lands $15M in Financing, Valuing Betting Firm at $375M
Betr Holdings Inc., the sports wagering startup cofounded by boxer Jake Paul, announced Wednesday that it raised another $15 million, valuing the company at $375 million. The latest funding round, which brought the total raised to date by Miami-based Betr to $100...
Bally’s Attempting to Solve $800M Financing Gap for Chicago Casino
Appearing before the Nevada Gaming Control Board (NGCB) Wednesday, executives from Bally’s (NYSE: BALY) told the regulators that the company is trying to close a funding gap of $800 million for its permanent Chicago casino. That means of the project’s estimated $1.1...
Rush Street Interactive Surges After Unveiling Strong 2024 Guidance
Rush Street Interactive (NYSE: RSI) soared in Wednesday’s post-market trading session. That's after the gaming company delivered bullish 2024 earnings before interest, taxes, depreciation, amortization (EBITDA), and sales guidance. The online sportsbook operator posted a gain of 23.4% in after-hours trading, as...
PlayAGS Can Gain Share Amid Slot Consolidation, Says Analyst
PlayAGS (NYSE: AGS) reported fourth-quarter earnings and revenue that were near the top end of previously disclosed guidance. Looking further out, the slot machine manufacturer can potentially grab market share amid industry consolidation, according to Stifel analyst Jeffrey Stantial. That could facilitate...
