5448 stories by Todd Shriber
Rising Prediction Markets Have Implications for Junk-Rated Rivals
Non-investment grade lottery operators could be pinched by the rise of prediction markets, says asset manager Outlook is “mixed” for regional gaming operators Investors need to display “greater vigilance,” says money manager The continued rise of prediction markets heightens competition in the...
Penn iGaming App Tagged with Patent Infringement Lawsuit
Regional casino operator and its digital unit were hit with suit. Single Action Bet Tech says gaming company infringed on two of its patents. Plaintiff provides tech that makes betting actions more efficient. Penn Entertainment’s (NASDAQ: PENN) Hollywood Casino mobile application is...
Prediction Markets Search for Growth Outside Sports Contracts
By some estimates, sports event contracts account for 75% to 80% of prediction market volume. Some say it’s higher than that. One research firm says that percentage could significantly decline over the long-term. Though they claim to not be in the business...
Coinbase Poised to Partner with Kalshi on Prediction Markets
Two companies already have a relationship. Coinbase expected to reveal prediction market plans next week. Partnership could be similar to Kalshi/Robinhood. When it launches it prediction markets platform, which could occur imminently, Coinbase Global (NASDAQ: COIN) appears likely to partner with Kalshi....
Winklevoss Twins’ Gemini Lands Prediction Markets Approval
Gemini Space Station, the brothers’ cryptocurrency exchange, wins prediction markets approval from CFTC Company’s event contracts push was revealed last month Approval brings another crypto-centric player to the fast-growing industry Gemini Space Station (NASDAQ: GEMI), the digital currency exchange controlled by Cameron...
Fox Not Looking to Get Into Sports Betting, Says CFO Tomsic
FOX Bet was shuttered in 2023 Media company has option to acquire 18.6% of FanDuel It also owns $900 million worth of Flutter Entertainment equity Fox Corporation (NASDAQ: FOX) is one of the biggest names in US sports broadcasting and streaming, but...
Bally’s to Sell Rhode Island Casino Property in Q1 After Landing $1.1B in Financing
Sale of Twin River Lincoln Casino real estate expected in Q1 after Bally’s lands new financing Private credit firms lending casino operator $1.1 billion Some of the proceeds could be used for New York casino project Earlier today, Bally’s announced it amended...
Monarch Casino Inching Closer to Finding Acquisition Target, Says Analyst
Regional casino operator is frequently attached to M&A rumors, but hasn’t made a deal Company is known to be highly selective when it comes to evaluating acquisitions It’s unlikely to buy a casino in Nevada Monarch Casino & Resort (NASDAQ: MCRI) is...
Wynn Price Targets Lifted on UAE Casino Opportunities
Analysts boost Wynn price target following UAE investor day One analyst says UAE casino resort could be worth $21 a share to stock price Calls Wynn UAE setup “compelling” Following its analyst tour/investor day in the United Arab Emirates (UAE) last week,...
Bet365 Promo Spending Soars in Reach for US Market Share
Bet365's sports betting promotional spending is soaring while rivals pull back Company’s promo spending as percentage of GGR is highest in the US Operator is attempting to gain market share in this country At a time when rivals are reining in online...
