5136 stories by Todd Shriber
DraftKings Q1 Update: It’s All About Guidance, Profitability Outlook
DraftKings (NASDAQ: DKNG) stepped into the earnings confessional on Thursday after the close of US markets. With the company already having issued 2023 guidance, analysts and investors will be focusing on any adjustments to those forecasts and the possibility of a shorter...
Expect More Sports Betting Consolidation, Says Morgan Stanley
Speculation regarding sports wagering industry mergers and acquisitions activity, particularly on the operator side, remains intense, and some analysts believe deal-making could perk up as 2023 progresses. In a Monday note to clients, Morgan Stanley analysts observed that over the past seven...
FanDuel Adds 1.5M Customers in Q1, Will Be Profitable in 2023
Flutter Entertainment (OTC: PDYPY) announced Tuesday that its US operations, led by FanDuel, excelled in the first quarter, as revenue surged 92%. The Irish gaming company said FanDuel’s sportsbook revenue soared 147% year-over-year as market share reached 50%, cementing the operator’s status...
Citi Field Casino Backed by Majority of Queens Residents, Survey Says
A majority of Queens residents support an effort to bring a casino hotel to the Citi Field area. But those numbers are to be taken with a grain of salt because polling was conducted on behalf of a group pushing to bring...
Caesars Q1 Earnings Disappoint, But CEO Tom Reeg Sounds Optimistic on Las Vegas
Caesars Entertainment (NASDAQ: CZR) reported a wider-than-expected first-quarter loss. But the casino operator beat its topline projecting, and its chief executive officer told analysts Las Vegas remains sturdy. The Harrah’s operator posted a loss of 63 cents a share on revenue of...
Wynn to Lean on Chinese Customers to Boost UAE Casino-Hotel
Wynn Resorts will rely on familiar clientele to kick-start its integrated resort in the United Arab Emirates (UAE) when the venue opens in early 2027: Chinese customers. The operator will also likely lean into its database of other loyal patrons to support...
NFL Players Union Tells Agents Sportsbooks are Ratting on Players Who Bet
The NFL Players Association (NFLPA), the union for the league’s players, is reportedly advising agents to impress upon clients to cease placing sports bets on their mobile phones because sportsbook operators are reporting such activity to the league. The news emerged less...
Canadian Crypto Platform Fraudulently Directed Client Funds to Online Casinos
EzBtc, formerly a Canadian cryptocurrency trading platform, allegedly diverted almost $9.6 million (CAD $13 million) in client funds to a pair of internet crypto casinos without their consent. The allegations were revealed Tuesday by the British Columbia Securities Commission (BCSC), equivalent to...
Portnoy’s Potential Departure Positive for Penn Entertainment Says Analyst
It’s not guaranteed to happen, but Barstool Sports founder David Portnoy could leave the company in the future, potentially increasing the pool of buyers should Penn Entertainment (NASDAQ: PENN) opt to sell the business. That’s the take of Roth MKM analyst Edward...
MGM Crushes Q1 Estimates as Las Vegas Revenue Soars to $2.2 Billion
On the back of strength across its entire casino portfolio, MGM Resorts International (NYSE: MGM) thumped first-quarter estimates. The Bellagio operator posted adjusted earnings per share (EPS) of 44 cents in the first three months of the year on revenue of $3.9...
