5359 stories by Todd Shriber
Kansas Sports Betting Bill Favored By Casinos, But There’s Opposition, Too
The Kansas state House didn’t advance sports betting legislation today, but the chamber could take up the bill next week. If approved and signed into law, House Bill 2740 (HB 2740) would legalize online and mobile sports betting in Kansas and at...
Rush Street Interactive Inks Deal with Sports Radio Legend Mike Francesca
Rush Street Interactive announced today it reached a content deal with Mike Francesca -- one of the legends of New York sports talk radio. Financial terms of the agreement weren’t revealed, but the pact calls for Francesca to develop exclusive content for...
Wynn Resorts Stock Has Rebound Potential, Says Research Firm
Wynn Resorts (NASDAQ:WYNN) stock is higher by 17 percent over the past week. While the casino operator is still in the red on a year-to-date basis, some market observers believe the shares offer compelling near-term potential. Still hindered by travel restrictions in...
Capital Group Trims Wynn Macau Investment, Grosses $11.5 Million
Mutual fund giant Capital Group recently reduced its stake in Wynn Macau, grossing $11.5 million last week in proceeds after selling just over 19.45 million shares of the gaming operator. California-based Capital Group, which issues mutual funds under the American Funds brand,...
Lawrence Ho’s Black Spade SPAC to List in Hong Kong
Black Spade Acquisition, a special purpose acquisition company (SPAC) controlled by Melco Resorts & Entertainment (NASDAQ:MLCO) Chairman Lawrence Ho, is planning to list on the Hong Kong stock exchange, according to a recent regulatory filing. The blank check company is working with...
Caesars Entertainment Eliminates NeoGames Stake
Caesars Entertainment (NASDAQ:CZR) is no longer a shareholder in internet lottery operator NeoGames (NASDAQ:NGMS). Earlier this week, the casino giant sold its remaining position in the Israeli company, according to a Form 13D/A filing with the Securities and Exchange Commission (SEC). On...
DraftKings Encounters Tech Issues on March Madness Day Following Gonzaga Promo Bet
DraftKings' (NASDAQ:DKNG) servers picked an awful time to go down -- doing so on Thursday, the first day of the NCAA Tournament. Here's what happened. In the early window of opening round games yesterday, DraftKings offered clients a maximum $50 moneyline bet...
Nevada Gaming Comm. Delays Licensing MGM Investor Barry Diller Amid SEC Probe
The Nevada Gaming Commission (NGC) is postponing licensing of Barry Diller -- the media mogul whose IAC/InterActiveCorp (NASDAQ:IAC) is the largest shareholder in MGM Resorts International (NYSE:MGM) -- amid a federal investigation into his options trades in Activision (NASDAQ:ATVII) prior to Microsoft...
Wynn Resorts Wins Travel + Leisure Sustainability Award
Sustainability and environmental, social, and governance (ESG) practices are all the rage in Corporate America. And gaming companies, including Wynn Resorts, are participating in that trend. The integrated resort operator is one of six hoteliers to win a “Global Vision Award” from...
Macau Concessionaires Packing on Debt
Macau's six gaming operators are seeing debt burdens swell in the wake of the coronavirus pandemic, and that's a drag on equity prices, says Morgan Stanley. Prior to the global health crisis, the concessionaires had just $5 billion in combined liabilities. But...
