5316 stories by Todd Shriber
Sports Betting M&A, Market Share Alterations Expected in 2024
The domestic sports wagering industry is evolving and maturing at a rapid pace. But it also remains intensely competitive. That competition could set the stage for interesting goings-on in 2024. Among the items of note to watch next year are the ability...
Sportsbook Operator Promo Spending Wanes Amid Profitability Focus
Lavish promotional bonuses to attract new clients are hallmarks of the US iGaming and online sports wagering industries, but operators’ dependence on that strategy is waning amid an industrywide focus on profitability. In Michigan and Pennsylvania, two mature markets permitting both iGaming...
Tilman Fertitta Las Vegas Strip Casino Project Starting to Take Shape
It’s been about a year since Tilman Fertitta’s Fertitta Entertainment won approval to build a new casino hotel on the Las Vegas Strip. Since then, there’s been little movement on the project, but signs are emerging that’s changing. Recent filings with Clark...
MGM Director Meister Says Company Responded ‘Rationally’ to Cyberattack
Keith Meister, the hedge fund manager who’s a member of the board of directors at MGM Resorts International (NYSE: MGM), said the casino operator responded “rationally” to a September cyberattack. He added that the subsequent slump by the operator’s stock is a...
Las Vegas Sands Beats Q3 Revenue Estimates, Approves $2 Billion Buyback
Supported by strength at its Macau casino hotels and Marina Bay Sands in Singapore, Las Vegas Sands (NYSE: LVS) delivered third-quarter revenue that beat Wall Street forecasts. After the close of US markets today, the Venetian Macau operator said it earned 55...
Some Small-Cap Gaming Stocks Sporting Deep Value Traits
Across the broader market, large-cap stocks are outpacing their smaller counterparts this year, and that scenario holds true among small-cap gaming stocks. One potentially positive result of small-cap gaming stocks lagging large-cap rivals this year is that unusually wide valuation chasms are...
DraftKings Gains Sports Betting Share Since Start of NFL Season
Week six of the 2023 NFL season is in the books, and with a record number of states permitting regulated sports wagering, it’s not surprising that the handle is on the rise. Data also indicate that DraftKings (NASDAQ: DKNG) has added market...
Gateway Casinos Mulling Sale, Seeking $2B
Canada’s Gateway Casinos is reportedly considering a sale and is seeking $2 billion, including debt. Bloomberg broke the story earlier Monday. The news emerged about two months after the casino operator announced the passing of Chief Executive Officer Tony Santo. Citing unidentified...
Elys Game Technology Stock to Be Delisted by Nasdaq
Elys Game Technology (NASDAQ: ELYS), a gaming technology provider, announced Monday that the Nasdaq Stock Market will delist its common stock on Tuesday, October 17. The news follows a decision by the Nasdaq Hearings Panel and comes as the stock has labored...
Churchill Downs Benefits from Virginia Court Ruling, Says Analyst
Virginia’s Supreme Court recently ruled that skill games don’t have First Amendment protections and are again illegal in the state. That decision could benefit Churchill Downs (NASDAQ: CHDN). That’s the take of Truist Securities analyst Barry Jonas, who, in a new note...
