5135 stories by Todd Shriber
FanDuel Acquisition Could Be Needed for Nevada Entry
Despite increased competition from other states, Nevada remains one of the US meccas of sports wagering, but two of the industry’s largest operators -- DraftKings (NASDAQ: DKNG) and FanDuel -- still don’t offer their services in the state. When that will change...
DraftKings, MGM, Hard Rock Mull Entering Brazil’s Online Betting Market
Last year, Brazil established regulatory guidelines for its online wagering market -- a move that’s expected to lure some of the industry’s biggest players to Latin America’s largest economies. It’s rumored that US-based betting behemoths DraftKings (NASDAQ: DKNG), MGM Resorts International (NYSE:...
Las Vegas Sands Credit Rating Could Be Hindered by Shareholder Rewards
Las Vegas Sands’ (NYSE: LVS) shareholder rewards efforts, including buybacks and dividends, could be headwinds to a credit ratings upgrade, according to Moody’s Investors Service. In reiterating a “Baa3” rating with a “stable” outlook on the casino operator, Moody’s said it expects...
Flutter Aims to Move Primary Share Listing to NYSE Later This Year
Flutter Entertainment (NYSE: FLUT), the parent of FanDuel, is looking to move its primary share listing to the New York Stock Exchange (NYSE) by the end of 2024 in a bid to attract more retail investors. The news surfaced barely more than...
DraftKings Leads Bank Sports Betting Survey, ESPN Bet Surprises
A recent survey on consumers’ iGaming and online sports betting habits conducted by Truist Securities indicates users have a preference for DraftKings (NASDAQ: DKNG). DraftKings and Flutter Entertainment’s (NYSE: FLUT) FanDuel have carved out an enviable duopoly in the US sports wagering...
Genius Sports Dubbed Top Small-Cap Betting Idea by Oppenheimer
Amid a month-long slump that’s seen the stock shed 24.2% and enter a bear market along the way, it would be easy to be dismissive of Genius Sports (NYSE: GENI), but at least one analyst believes investors should consider a different view....
UFC Parent Endeavor Going Private in $13B Deal with Silver Lake
Endeavor Group Holdings, Inc. (NYSE: EDR) is being taken private by venture capital firm Silver Lake in a transaction valuing the target at $27.50 a share, or an equity value of $13 billion. Silver Lake, which owns 71% of the voting stock...
Bally’s Investor Urges Against Takeover Bid, Suggests Alternatives for Chicago Casino
K&F Growth Capital, which is one of the largest Bally’s (NYSE: BALY) shareholders, sent a letter to the company’s board of directors on Tuesday urging it to reject a recently proposed takeover bid and to mull alternatives for large-scale projects, including a...
Bally’s Hit with Another Credit Rating Downgrade
Bally’s (NYSE: BALY) accomplished a dubious trifecta as its credit rating has been lowered by a third major ratings agency. On Monday, Fitch Ratings downgraded the regional casino operator’s credit grade to “B” from “B+”, citing increasing leverage. The research firm has...
Queens Casino Has Limited Support, According to Ramos Poll
There’s scant appetite for a casino in Queens, New York, according to a poll conducted at the request of New York State Sen. Jessica Ramos, the Democrat who represents a portion of the borough. Ramos recently said that she wanted more insight...
