5316 stories by Todd Shriber
Some Online Betting Stocks Worth Wagering On, Says Analyst
With the underdog Kansas City Chiefs winning Super Bowl LVIII, the most bet on domestic sporting event was a negative one for regulated sportsbooks, but one bad day doesn’t dent the long-term outlook for online betting stocks. Two of the titans of...
Portnoy Reveals Barstool Sports, DraftKings Partnership
Just minutes after the Kansas City Chiefs vanquished the San Francisco 49ers in Super Bowl LVIII on Sunday night, Barstool Sports founder David Portnoy announced a widely speculated upon partnership between his company and DraftKings (NASDAQ: DKNG). Rumors regarding such a relationship...
Wynn Nearing Start of UAE Hotel Construction
Wynn Resorts (NASDAQ: WYNN) is said to be close to commencing construction on the hotel tower for Wynn Al Marjan Island in the United Arab Emirates (UAE). The project’s estimated cost, which is expected to be the first gaming venue in the...
Super Bowl Could Draw $1.5B+ Handle, Books Want 49ers to Win, Says Macquarie
The Super Bowl is Sunday and by some estimates, regulated sportsbook operators could command a handle on the big game of $1.5 billion or more. That’s the estimate of Macquarie analyst Chad Beynon who arrives at that forecast by estimating that 10%...
Elon Musk’s X, BetMGM Confirm Sports Wagering Partnership
Following a late-January rumor to this effect, Elon Musk’s X — the social media platform formerly known as Twitter — and BetMGM today confirmed they are working together. Financial terms of the deal weren’t revealed, but the partnership is the first between...
FanDuel CFO Reticent About Operator’s Nevada Efforts
In remarks made at his licensing hearing before the Nevada Gaming Control Board (NGCB) on Wednesday, FanDuel CFO David Jennings didn’t reveal much about his employer’s potential plans in the state. Jennings, who has been with the online sportsbook operator since 2022,...
BetMGM Says 2023 Revenue Jumped 36%, Was EBITDA Positive in Second Half
BetMGM said it posted 2023 revenue of $1.96 billion, a 36% year-over-year increase. That put the online sportsbook operator’s top line at the higher end of a previously disclosed forecast of $1.8 billion to $2 billion. The operator added that it was...
Wynn Soars on Strong Q4 Results, CEO Sees Opportunity in Wynn West Plan
Shares of Wynn Resorts (NASDAQ: WYNN) surged Thursday after the casino operator delivered estimate-topping fourth-quarter results late in the day. Buoyed by strength in its Wynn Macau division, the Las Vegas-based gaming company posted earnings per share (EPS) on non-generally accepted accounting...
Red Rock Resorts Rallies on Q4 Earnings Beat, Special Dividend
Shares of Red Rock Resorts (NASDAQ: RRR) rallied in Wednesday’s after-hours trading session. That's after the gaming company posted estimate-beating fourth-quarter results while announcing a special dividend. The operator of the Station casinos, among others, earned 95 cents a share on revenue...
Full House Credit Rating Upgrade Unlikely Over Near Term
Full House Resorts (NASDAQ: FLL) is unlikely to earn an upgrade to its speculative credit rating over the near term. That's because the casino operator’s debt levels are expected to remain elevated. That’s the take of Moody’s Investors Service, which downgraded Full...
