5082 stories by Todd Shriber
FanDuel Profitable in First Half, Flutter Still Eyeing US Stock Listing
Flutter Entertainment (OTC: PDYPY), the world’s largest online gaming company, reported first-half results Wednesday, noting that its FanDuel unit was profitable in the January through June period. The largest sportsbook operator in the US generated adjusted earnings before interest, taxes, depreciation, and...
Penn/ESPN Could Boost Caesars, DraftKings Margins, Says Analyst
It’s hard to tell given the declines experienced by the stocks on Wednesday, but Caesars Entertainment (NASDAQ: CZR) and DraftKings (NASDAQ: DKNG) could benefit from Penn Entertainment’s (NASDAQ: PENN) newly announced sports wagering pact with ESPN. That’s the take of B. Riley...
David Portnoy: Regulators Denied Penn Licenses Because of Me, Won’t Sell Barstool Again
The concept of media and sports wagering partnerships entered a new phase Tuesday, when ESPN and Penn Entertainment (NASDAQ: PENN) announced an agreement under which the casino operator will pay a hefty sum to use the ESPN Bet brand. Barstool Sports was...
Penn Entertainment Sheds Barstool, Unveils $1.5B ESPN Deal
In news that rocked the US sports wagering landscape, Penn Entertainment (NASDAQ: PENN) announced it will divest Barstool Sports and sign a $1.5 billion deal with Walt Disney’s (NYSE: DIS) ESPN to use the ESPN Bet trademark. Under the terms of the...
Light & Wonder to Reunite with SciPlay Following Boosted Takeover Bid
Light & Wonder (NASDAQ: LNW) said Tuesday that it's reuniting with SciPlay (NASDAQ: SCPL), the social casino developer spun off from the former in 2019. In conjunction with the companies’ second-quarter earnings reports, Light & Wonder announced it reached an agreement to...
Macau GGR Could Hit 90% of Pre-COVID Levels in 2023, Fully Recover Next Year
Macau’s 2023 gross gaming revenue (GGR) recovery is so sturdy that the metric could approach 90% of pre-coronavirus levels. That’s the take of S&P Global Ratings, which has boosted its outlook for Macau gaming revenue multiple times since the start of 2023....
MGM Bonds Steady Income-Generating Ideas
Corporate bonds issued by MGM Resorts International (NYSE: MGM) carry junk ratings, but the casino giant has the ability to service that debt. The Bellagio operator recently reported impressive second-quarter results and noted that BetMGM was profitable in that period with the...
Caesars Entertainment Among Hedge Funds’ Favorite Stocks
Shares of Caesars Entertainment (NASDAQ: CZR) are higher by 36.45% year to date, and that’s good news for all investors, including the slew of hedge funds that are long on the stock. Recent data released to clients by Bank of America indicates...
Bally’s Could Mull Sale of Online Sports Wagering Unit
Bally’s (NYSE: BALY) Bally Bet arm, which includes the operator’s portfolio of iGaming and online sports wagering assets, could consider a sale of the sports betting segment. That rumor recently appeared in a post on the Off Shore Gaming Association (OSGA) blog....
Bally’s Postpones Temporary Chicago Casino Debut to September
Bally’s (NYSE: BALY) is again delaying the debut of its temporary Chicago casino, telling analysts and investors the venue is projected to open its doors in September. The Rhode Island-based regional casino operator made that announcement in conjunction with its second-quarter earnings...
