5359 stories by Todd Shriber
ESPN Bet Sportsbook Debuts at Greektown Casino in Detroit
The first retail sportsbook bearing the ESPN Bet name opened Wednesday at Penn Entertainment’s Hollywood Casino at Greektown in downtown Detroit. Penn has been using the ESPN brand on its mobile sports wagering platform since last November after inking a 10-year, $1.5...
Churchill Downs Posts Record Q1 Revenue, Analyst Bullish on Virginia Properties
Shares of Churchill Downs (NASDAQ: CHDN) jumped 3.74% in after-hours trading Wednesday after the gaming company reported record first-quarter sales and earnings that topped Wall Street estimates. The operator of the famed Kentucky racetrack of the same name said it earned $1.08...
Inflation, Interest Rates Weighing on Gaming Industry M&A, Says Analyst
Entering this year, it was widely expected that the Federal Reserve would pare interest rates from 20-year highs, potentially unleashing a wave of mergers and acquisitions activity in the casino gaming industry, but that scenario hasn’t materialized. Following a string of stubbornly...
Einhorn’s Greenlight Capital Takes Penn Entertainment Stake
Shares of Penn Entertainment (NASDAQ: PENN) jumped 2.4% Wednesday on volume that was 55.7% above the daily average after David Einhorn disclosed that his Greenlight Capital took a “medium sized” stake in the regional casino operator in the first quarter. In a...
Online Betting, Marijuana Altering State Tax Bases
US states have long applied “sin taxes” to items such as alcohol, beer, cigarettes, other tobacco products, and wine as avenues for bolstering revenue. More recently, marijuana and sports wagering have been added to the mix, representing alterations to some states’ revenue...
Disney Tech Exec LaBerge Joining Penn Entertainment as CTO
After a more than two-decade run holding high-level technology jobs at Walt Disney (NYSE: DIS), Aaron LaBerge is joining Penn Entertainment (NASDAQ: PENN) as chief technology officer (CTO). The regional casino operator made the announcement earlier today, though some media outlets reported...
New Jersey iGaming Revenue to Surpass Atlantic City Casino Earnings, Analyst Predicts
It’s a matter of when, not if, iGaming gross gaming revenue (GGR) in New Jersey exceeds that of the nine casino hotels on the Atlantic City Boardwalk. That’s the outlook offered by Deutsche Bank analyst Carlo Santarelli who in a recent report...
Wynn Las Vegas President Steve Weitman Leaving Company
Wynn Resorts (NASDAQ: WYNN) noted today Steve Weitman, the president of the operator’s Las Vegas Strip properties, is leaving the company effective June 10. The executive didn’t give a reason for his departure beyond noting he’s evaluating other opportunities and now is...
Sands Disappointed by New York Casino Process, Confirms Thailand Interest
Las Vegas Sands (NYSE: LVS) is dismayed about the length of time it’s taking New York regulators to open the bidding window for three downstate casino permits, but the operator is optimistic about the possibilities in Thailand. Executives from the largest gaming...
Thai Finance Ministry to Lead Review of Casino Study
Thailand’s Ministry of Finance will run point in mulling a House of Representatives study that could pave the way for regulated casinos in the Southeast Asian country. The Finance Ministry is one of 17 government agencies involved in assessing the feasibility of...
