5590 stories by Todd Shriber
Bally’s Sells Chicago Casino Land to Unidentified Investor for $500 Million
Bally’s (NYSE: BALY) announced Monday it sold the property of its upcoming Chicago casino resort to an unidentified investor for $500 million. It is entering a sale-leaseback transaction with the real estate owner. Bally’s sold the 30-acre Tribune Publishing Center site for...
Las Vegas Sands, Red Rock Resorts Favorable in New Morgan Stanley Covers
Morgan Stanley analyst Stephen Grambling launched fresh coverage of a variety of gaming equities on Monday. Las Vegas Sands (NYSE: LVS) and Red Rock Resorts (NASDAQ: RRR) were among the names earning praise. Grambling initiated coverage of nine gaming stocks, but rated...
DraftKings Tumbles on Reports of Hacked Client Accounts
DraftKings (NASDAQ: DKNG) stock slipped early Monday on reports that some client accounts were hacked and the funds were depleted by cybercriminals. The DraftKings customer service Twitter account acknowledged “reports of customers having issues with their accounts” and encouraged affected clients to...
DraftKings Stock Has Big Upside Potential, Says Piper Analyst
DraftKings (NASDAQ: DKNG) stock traded modestly higher Friday amid a couple of favorable headlines, including a new bullish sell-side call. In a note to clients on Friday, Piper Sandler analyst Matt Farrell started coverage of the online sportsbook operator with an “overweight”...
Former Texas Gov. Rick Perry Joins Sports Betting Alliance
Sports wagering isn’t legal in Texas, but there’s mounting support to change that, including among politicians such as former Gov. Rick Perry. Perry, a Republican, joined the Sports Betting Alliance -- a group comprised of professional sports franchises in Texas and gaming...
BetMGM Seen as Most Credible Threat to FanDuel’s Dominance
Flutter Entertainment’s (OTC: PDYPY) Wednesday investor day went a long way toward confirming FanDuel’s dominant perch in the US online gaming market and the operator’s attractive growth prospects. Finding credible threats to the FanDuel crown isn’t impossible, but the list isn’t expansive....
AEI Bashes New York Casino Plan, Calls It ‘Loser City’ Move
Howard Husock, a senior fellow with the right-leaning American Enterprise Institute (AEI), has excoriated plans to bring a casino to New York’s Times Square, He notes that cities with downtown gaming venues have something in common, and it’s not good. Cleveland, Cincinnati,...
Flutter Forecasts Massive FanDuel Revenue Growth, Sees $40.5B US Market
Flutter Entertainment (OTC:PDYPY) said its FanDuel unit could generate annual revenue growth of 4.5x to 5x through 2030 while forecasting a total addressable market in the US of $40.5 billion by that year. The Irish gaming behemoth made the comments at its...
Texas Casino, Sports Betting Bill Filed by State Senator
Texas state Sen. Carol Alvarado (D-Houston) is preparing to bring casino gaming and sports betting legislation to the floor during the state’s 2023 legislative session. On Monday, she prefiled Senate Joint Resolution 17, which, if passed, would set the stage for the...
BetMGM Gets an ‘F’ From Better Business Bureau
Since the 2018 Supreme Court ruling on the Professional and Amateur Sports Protection Act (PASPA), regulated sports wagering is more accessible to a larger percentage of the US population than ever before. That also means more room for consumer complaints. Many of...
