5316 stories by Todd Shriber
26 Capital Faces $1.9 Million Suit from Former Law Firm
The law firm that previously represented 26 Capital (NASDAQ: ADER) is suing the special purpose acquisition company (SPAC) to recoup nearly $2 million in legal fees. Earlier this week, Schulte Roth & Zabel asked Delaware's Court of Chancery to halt the blank-check...
DraftKings, FanDuel Customer Loyalty Dents Omnichannel Thesis
Following the 2018 Supreme Court ruling on the Professional and Amateur Sports Protection Act (PASPA) -- and the subsequent boom in U.S. iGaming and sports wagering -- it was believed that land-based casino operators would have a leg up on online-only competitors....
Tribal Gaming Regulator Chides Caesars, MGM on Ransomware Attacks
In what appears to be a clear instance of kicking them while they’re down, the National Indian Gaming Commission (NIGC) recently took some shots at Caesars Entertainment and MGM Resorts International. The jibes were regarding recent ransomware attacks on those commercial operators....
WNBA Superteams Driving Betting Increase
The formation of two WNBA “superteams,” the Las Vegas Aces and the New York Liberty, is among the reasons more bettors are flocking to the women’s basketball league. BetMGM, which is one of the largest domestic online sportsbook operators, said it’s experienced...
Entain Woes Could Spur MGM to Consider Another Takeover Bid
The erosion in market capitalization experienced by Entain Plc (OTC: GMVHY) after the gaming company issued a tepid 2023 net gaming revenue (NGR) forecast Monday could invite another takeover offer from MGM Resorts International (NYSE: MGM). While shares of the Coral owner...
Everi Scores Win in Sightline Payments Patents Case
Everi Holdings' (NYSE: EVRI) Everi Payments unit announced Tuesday that it scored a significant legal victory in a long-running patents case against Sightline Payments Patents. Las Vegas-based Everi said it won five inter-part review proceedings held before the US Patent and Trademark...
DraftKings Stock Draws JPMorgan Upgrade
Following a slump that dates back to July, DraftKings (NASDAQ: DKNG) stock rallied on Tuesday with the help of bullish commentary from JPMorgan. In a note to clients today, analyst Joseph Greff upgraded the online sportsbook operator to “overweight” from “neutral” while...
Entain Shares Plunge on Tepid iGaming Revenue Forecast
Entain Plc (OTC: GMVHY) is among Monday’s worst-performing gaming equities after the Ladbrokes owner issued a disappointing 2023 net gaming revenue (NGR) forecast, citing softness in online gaming. The company, which owns half of BetMGM, also told investors that regulatory headwinds persisted...
26 Capital to Liquidate Following Failed Okada Manila Merger
Jason Ader’s 26 Capital (NASDAQ: ADER) will liquidate after the special purpose acquisition company (SPAC) lost a recent court case related to efforts to merge with Okada Manila. The blank check company announced plans to liquidate a trust account on Sept. 21....
Gaming and Leisure Properties Bonds Steady, Says Research Firm
As tenant diversification increases, corporate debt issued by Gaming and Leisure Properties (NASDAQ: GLPI) could be attractive to some fixed-income investors, though upside could be limited. That’s the take of Gimme Credit analyst Kim Noland, who, in a new report to clients,...
