5136 stories by Todd Shriber
Fantasy Life Raises $2M from NFL Stars Josh Allen, Joe Burrow, Ja’Marr Chase
Fantasy Life, the fantasy sports and betting media property founded by Matthew Berry, reportedly closed a $2 million financing round led by multiple professional athletes and celebrities. Axios broke news of the “friends and family round” earlier Tuesday. Participating investors include Buffalo...
Carl Icahn Puts Trump Atlantic City Casino Tower, Land Up For Sale
A unit of Carl Ichan’s Icahn Enterprises L.P. (NYSE: IEP) has put the remaining relics of Trump Plaza in Atlantic City up for sale. The former Boardwalk casino hotel, which had sat vacant since September 2016, was imploded in February 2021. A...
Bally’s, MGM Among Casino Stocks Hedge Funds Pared in Q2
Bally’s (NYSE: BALY) and MGM Resorts International (NYSE: MGM) are among the gaming equities in which some well-known hedge funds reduced their positions in the second quarter. Bally’s, the Rhode Island-based regional casino operator that’s long been a favorite of hedge funds,...
Big Ten Mulling Move of Football Title Game to Las Vegas
The rapidly expanding Big 10 Conference is considering moving its football championship game, and Las Vegas is reportedly one of the cities under consideration. The game, which has been staged in Indianapolis since its inception in 2011, would be held at Allegiant...
Wynn Macau Could Post 2023 EBITDAR of $917M, According to Research Firm
Wynn Resorts’ (NASDAQ: WYNN) Wynn Macau arm could notch 2023 earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) of $917 million, well ahead of previous forecasts. That’s the take of CreditSights, which previously estimated that the base case...
ESPN Deal Credit Positive for Penn Entertainment, Says Moody’s
Last week, Penn Entertainment (NASDAQ: PENN) announced it will pay $1.5 billion over 10 years to use ESPN’s "ESPN Bet" brand on its online and retail sportsbooks. That's while granting rights to the unit of Walt Disney (NYSE: DIS) to acquire a...
Caesars, DraftKings Could See Big Savings Following ESPN/Penn Deal
Penn Entertainment’s (NASDAQ: PENN) 10-year, $1.5 billion sports betting partnership with ESPN could provide two rivals with near-term cost savings. The Penn/ESPN pact, which was announced last week, means the sports network will terminate similar deals with Caesars Entertainment (NASDAQ:CZR) and DraftKings...
San Francisco Should Embrace Downtown Casino Says Former Real Estate Executive
Wracked with problems, including rampant homelessness, departing retailers, and public narcotics abuse, downtown San Francisco could be revived with a casino. That’s the take of Stanford Horn, formerly a high-ranking commercial real estate executive with Coldwell Bank Commercial Real Estate Services and...
Penn Registers 1.25M Shares Portnoy Can Sell, He Says He Won’t
In a regulatory filing with the Securities and Exchange Commission (SEC), Penn Entertainment (NASDAQ: PENN) registered just over 1.25 million shares that Barstool Sports founder David Portnoy can sell in the future. The filing arrived three days after Penn announced it sold...
WynnBet Latest Sports Wagering Quasi-Casualty, Will Depart Eight States
It’s not a death in the traditional sense, but Wynn Resorts (NASDAQ: WYNN) is dramatically reducing the scope of its WynnBet sports wagering unit, announcing the business will halt operations as soon as possible in eight states in which it currently books...
