5034 stories by Todd Shriber
New NBA CBA Reportedly Allows Players to Invest in Sportsbook, Weed Companies
The NBA’s new collective bargaining agreement (CBA) reportedly paves the way for players to invest in and promote sports wagering companies and firms with ties to cannabis production. Shams Sharina, The Athletic’s NBA insider and a partner at FanDuel, broke the news...
Wynn New York Pitch Viable, Digital Unit Could Take Time to Deliver Upside
Through the first quarter, Wynn Resorts (NASDAQ: WYNN) stock is strutting its stuff. But upside by way of a New York casino and contributions from WynnBET are far-off prospects, according to one analyst. In a recent note to clients, Deutsche Bank analyst...
Not Little Caesars: Casino Stock Best in S&P 500 This Week
It was a good week for stocks as the S&P 500 gained 3.45%, but Caesars Entertainment (NASDAQ: CZR)far outpaced the broader market in the last week of March, surging 15.12%. That run was assisted by a 4.14% rally today, though it occurred...
MGM Earmarks $110M for Bellagio Upgrades, 2024 Enhancements Planned
MGM Resorts International has pledged to spend $110 million on Bellagio enhancements, including all rooms and suites in the Spa Tower. The Spa Tower redesign pertains to 819 guest rooms and 104 suites and is slated to wrap up in October. It...
Rush Street Interactive Takeover Could Happen Following Connecticut Departure
Long rumored to be a potential takeover target, Rush Street Interactive (NYSE: RSI) could be more attractive to prospective suitors following the operator’s recently announced departure from the Connecticut sports betting scene. On Tuesday, Chicago-based Rush Street Interactive announced it's scrapping its...
DraftKings CEO Jason Robins Dumped Stock on Day He Praised Outlook on Twitter
On the same day he spoke optimistically about the company’s future on Twitter, DraftKings (NASDAQ: DKNG) cofounder and CEO Jason Robins reduced his equity stake in the gaming operator. According to a Form 4 filing with the Securities and Exchange Commission (SEC),...
Caesars Not Getting Enough iGaming Love, Says Barclays Analyst
By number of venues, Caesars Entertainment (NASDAQ: CZR) is the largest casino operator in the US. But its online business isn’t receiving adequate credit from investors. That’s the sentiment of Barclays analyst Brandt Montour, who in a new report to clients said...
Consumers Planning Sharp Reductions in Betting, Says Conference Board
Consumers are planning to dramatically reduce their expenditures on lotteries and other forms of wagering over the next six months, according to The Conference Board’s latest Consumer Confidence Survey. Released earlier this week, the survey indicates consumer confidence ticked modestly higher this...
Wynn Resorts Has Multiple Upside Catalysts, Says Analyst
Shares of Wynn Resorts (NASDAQ: WYNN) are higher by 32.23% year-to-date, good for one of the best performances among gaming equities. A sell-side analyst believes the operator can generate more upside. In a new report to clients, Deutsche Bank analyst Carlo Santarelli...
DraftKings Spent $2M on Jet, Security for CEO Robins, Boosted Pay as Stock Stumbled
Last year, DraftKings (NASDAQ: DKNG) spent nearly $2 million on private jet and security expenses for co-founder and CEO Jason Robins while significantly boosting his equity-based compensation even as the shares plunged. In a recently published Schedule 14A filing with the Securities...
