5402 stories by Todd Shriber
Entain Could Sell BetMGM Stake or Itself to MGM, Says Jefferies Analyst
Amid the recent departure of CEO Jette Nygaard-Andersen and increased action in the stock by activist investors, the time could be appropriate for Entain Plc (OTC: GMVHF) to consider dramatic action. That’s the take of Jefferies analyst James Wheatcroft. In a new...
Durango Casino Off to Fast Start, Small Risk of Red Rock Cannibalization, Say Analysts
Red Rock Resorts’ (NASDAQ: RRR) newly minted Durango Casino & Resort in Southwest Las Vegas is off to an impressive start following its December 5 debut, according to analysts that cover the gaming company. The $750 million venue aims to fill a...
Churchill Downs Buying $123.75M of Own Shares from Duchossois Group
Churchill Downs (NASDAQ: CHDN) announced Monday that it will buy back one million of its shares for $123.75 apiece from an affiliate of the Duchossois Group. That values the transaction at $123.75 million, and the per-share price represents a discount from Monday’s...
Penn Seeking New York Entry for ESPN Bet, Says Analyst
Penn Entertainment (NASDAQ: PENN) is actively evaluating avenues to bring its newly launched ESPN Bet mobile sports wagering application to New York. Following the recent 11th Annual Truist Securities GLLR Summit in Boston, Truist gaming analyst Barry Jonas noted that ESPN Bet...
Melco Resorts Has ‘Ammunition’ for 2024 Macau Growth, Says Analyst
Melco Resorts & Entertainment (NASDAQ: MLCO) has the ingredients to outgrow rival Macau concessionaires in 2024. That’s the take of JPMorgan analyst Joseph Greff, who recently met with Melco CEO Lawrence Ho and CFO Geoff Davis. It’s believed that was the City...
Fanatics IPO Could Finally Happen in 2024
Fanatics could commence an initial public offering in 2024, ending two years of speculation regarding one of the most-anticipated IPOs. Following two investor days, including one in June, speculation swirled that Florida-based Fanatics would finally sell shares to public investors. That didn’t...
Entain Seen Adding Ricky Sandler to Board, May Push for BetMGM Sale
Entain Plc (OTC: GMVHF) is reportedly considering adding Eminence Capital founder Ricky Sandler to its board of directors. The move could potentially open the door to a full or partial sale of the operator’s 50% interest in BetMGM. Citing unidentified sources with...
DraftKings Not Feeling Heat from New Competitors
The US sports wagering landscape is awash in new, well-heeled competitors, but DraftKings (NASDAQ: DKNG) isn’t feeling adverse effects from those fresh entrants. DraftKings and Flutter Entertainment’s FanDuel amount to a duopoly in US online sports betting, controlling more than 70% of...
ESPN Bet Off to Solid Start, Says Analyst
Penn Entertainent’s (NASDAQ: ESPN) recently launched ESPN Bet mobile sports wagering application is off to a solid start in select states. However, that strength may be aided by heavy promotional spending. In a new report to clients, Macquarie analyst Chad Beynon pointed...
Caesars Stock Draws Elevated Options Activity
Amid speculation the Federal Reserve could cut interest rates as soon as the first quarter of 2024, growth stocks have rallied over the past several days, with gaming equities participating in that positive trend. Caesars Entertainment (NASDAQ: CZR) is in on the...
