4016 stories by Todd Shriber
Madison Square Garden Mulling Spin-Off of MSG Sphere, TAO Group Unit
Madison Square Garden Entertainment Corp. (NYSE:MSGE) said today its board of directors granted the company permission to evaluate a spin-off of its live entertainment business. The news has Las Vegas implications. The company owns the eponymous arena in New York City, The...
Penn Entertainment Now Owns 100 Percent of Barstool Sports
Penn Entertainment (NASDAQ:PENN) has exercised its rights to acquire all of Barstool Sports. That means David Portnoy’s media outfit will become a wholly owned subsidiary of the gaming company. The company, previously known as Penn National Gaming, said in January 2020 that...
MGM Eyeing $100K Packages for Las Vegas F1 Race
Formula One is the glitziest of motorsports, and that reputation will be in full effect when the circuit makes its debut in Las Vegas in Nov. 2023. The Sports Business Journal reported MGM Resorts International CEO Bill Hornbuckle said the company plans...
DraftKings Earns ‘Buy’ Rating From Once Bearish Analyst
DraftKings (NASDAQ:DKNG) stock is in rally mode of late, and Wall Street is taking note. Some analysts are turning bullish on the name ahead of the start of football season. In a note to clients today, Roth Capital analyst Edward Engel upgraded...
AGS/Inspired Deal May Not Happen or Could Reach $13 a Share: Analyst
It’s possible that Inspired Entertainment’s (NASDAQ:INSE) pursuit of AGS (NYSE:AGS) doesn’t end in a consummated deal. But it’s also plausible the suitor boosts its offer for the slot machine maker. That’s the sentiment of Stifel analyst Jeffrey Stantial who, in a note...
Lottery.com Slides Further Into Abyss as 10-Q Filing Delayed
Lottery.com (NASDAQ:LTRY) sank another 3% today, extending its one-month decline to almost 44%. That's after the gaming company told regulators it can’t afford to file its 10-Q for the second quarter. News of the delayed 10-Q arrives less than three weeks after...
David Tepper Adds Caesars, Drops Sands, Wynn from Appaloosa Portfolio
David Tepper’s Appaloosa Management reconfigured its exposure to casino stocks in the second quarter, adding a new position in Caesars Entertainment (NASDAQ:CZR) while eliminating stakes in Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN). Sands and Wynn, which control a combined seven...
AGS/Inspire Deal Would Be Accretive, Boost Free Cash Flow, Says Analyst
Shares of gaming device maker AGS (NYSE:AGS) jumped 7.78% today on more than double the average daily volume. That's as market participants digested news of the company rebuffing a $10 per share takeover bid, reportedly from Inspired Entertainment (NASDAQ:INSE). AGS revealed it...
Daniel Loeb Pushes Disney for ESPN Spinoff, Sees Sports Betting Opportunity
Daniel Loeb’s Third Point hedge fund has initiated a new position in Walt Disney (NYSE:DIS) said to be worth about $1 billion. He's pushing the company to spin off ESPN. The move could make it easier for the network to forge into...
Entain Buying Binge Makes MGM Deal Trickier
Entain Plc (OTC:GMVHY) is on a deal-making spree, and that added heft could make it harder and more expensive for MGM Resorts International (NYSE:MGM) to potentially revisit a takeover bid for the Ladbrokes owner. Last week, Entain announced it is acquiring 75%...
