5136 stories by Todd Shriber
MGM Wins Regulatory Approval for LeoVegas Acquisition
MGM Resorts International (NYSE:MGM) has announced it won regulatory approval for its acquisition of Sweden’s LeoVegas AB. The Bellagio operator said in May it offered $607 million in cash to purchase the Swedish gaming company and sportsbook operator. MGM is paying for...
Caesars, MGM Top Picks as Las Vegas Visitation Remains Strong
Amid concerns the US economy is softening, some analysts and investors are speculating peak Las Vegas demand has arrived or will soon do so. But data indicates otherwise. In a note to clients today, Macquarie analyst Chad Beynon points out internet searches...
iGaming, Sports Betting Advertising Soaring to $1.8 Billion in 2022
There’s talk iGaming companies and online sportsbook operators are reducing advertising expenditures. But BIA Advisory Services says internet gaming will remain a boon for local media. The research firm estimates internet casino companies and sportsbooks will drive $1.8 billion in local advertising...
David Portnoy Plugs Penn Stock, Flirts with Florida Move in Interview
Barstool Sports founder David Portnoy is bullish on Penn Entertainment (NASDAQ:PENN) stock. And he’s open to legal, tax-advantaged strategies to reduce his obligations to the federal government. In an interview earlier today with “Varney & Co.” on Fox Business, Portnoy was enthusiastic...
Caesars Palace Dana White’s Favorite Las Vegas Casino
Ultimate Fighting Championship (UFC) boss Dana White is a proficient gambler, and that might be an understatement. He’s not banned, per se, from many Las Vegas casinos. But some of those venues don’t want his betting business. As such, it’s easy for...
Kansas Sportsbooks Open in Sept., Mobile Betting Will Make NFL Season Start
Sports betting will be live in Kansas on Sept. 1, with mobile wagering launching a week later, confirming bettors in the state will be able to participate all of the 2022 NFL regular season. Kansas bettors will be able to place wagers...
Madison Square Garden Mulling Spin-Off of MSG Sphere, TAO Group Unit
Madison Square Garden Entertainment Corp. (NYSE:MSGE) said today its board of directors granted the company permission to evaluate a spin-off of its live entertainment business. The news has Las Vegas implications. The company owns the eponymous arena in New York City, The...
Penn Entertainment Now Owns 100 Percent of Barstool Sports
Penn Entertainment (NASDAQ:PENN) has exercised its rights to acquire all of Barstool Sports. That means David Portnoy’s media outfit will become a wholly owned subsidiary of the gaming company. The company, previously known as Penn National Gaming, said in January 2020 that...
MGM Eyeing $100K Packages for Las Vegas F1 Race
Formula One is the glitziest of motorsports, and that reputation will be in full effect when the circuit makes its debut in Las Vegas in Nov. 2023. The Sports Business Journal reported MGM Resorts International CEO Bill Hornbuckle said the company plans...
DraftKings Earns ‘Buy’ Rating From Once Bearish Analyst
DraftKings (NASDAQ:DKNG) stock is in rally mode of late, and Wall Street is taking note. Some analysts are turning bullish on the name ahead of the start of football season. In a note to clients today, Roth Capital analyst Edward Engel upgraded...
