5136 stories by Todd Shriber
PointsBet Reportedly Rebuffed Murdoch-led Group Bid for Aussie Business
PointsBet (OTC:PBTHF) reportedly turned back an acquisition offer for its Australian unit valued at up to $211.1 million. The bid came from a group led by Rupert Murdoch’s News Corp and legendary Aussie bookmaker Matthew Tripp. Citing unidentified sources familiar with the...
Caesars Deleveraging Story Poised for Dramatic Acceleration, Says Analyst
Caesars Entertainment’s (NASDAQ:CZR) debt burden stood at $13.5 billion at the end of March -- among the highest in the gaming industry -- but one analyst sees the company’s debt-reduction efforts potential accelerating over the near-term. In a recent note to clients,...
Sports Betting Advertising Soars 281% Through May
Sports wagering national advertising nearly quadrupled for the nine months ending May 31, soaring 281% to $282 million over that period, according to iSpot.tv. From September 2021 through May 2022, total impressions jumped 48% to 18.2 billion, compared with the year earlier...
Penn National Casino Spending Resilient, Digital Premium Gone, Says Analyst
Penn National Gaming’s (NASDAQ:PENN) land-based casinos remain sturdy. But investors are no longer assigning a premium to the operator’s digital business, which includes Barstool Sportsbook. However, resilient spending among patrons frequenting regional casinos isn’t satisfying market participants, as highlighted by Penn’s 40%...
MGM Selling Gold Strike Operating Rights to Tribal Buyer for $450 Million
MGM Resorts International (NYSE:MGM) is selling the operating rights to Gold Strike Hotel & Casino in Tunica, Miss. The buyer will be Cherokee Nation Entertainment Gaming Holdings, LLC for $450 million in cash. The Las Vegas-based gaming company made the announcement after...
Caesars, Peyton Manning Partnering on Omaha Productions Audio Content
Caesars Entertainment and Peyton Manning are teaming up again, with the casino operator signing on for a multi-year strategic partnership with the Hall of Fame quarterback’s Omaha Productions. Affectionately named for an audible call Manning used during his playing days, Omaha Productions...
Las Vegas Sands Invests in Betting Technology Firm Huddle Tech
Las Vegas Sands (NYSE:LVS) is wading into the fast-growing online gaming market with an investment in gaming technology provider and software developer Huddle Tech. Financial terms of the deal weren’t disclosed. Huddle Tech is a newly formed company resulting from the recent...
Japan Sports Betting: Government Says Not So Fast
Japanese policymakers are throwing cold water on the idea of expanded sports wagering in the country, indicating a proposal to that effect is unlikely to gain near-term traction. Chief Cabinet Secretary Hirokazu Matsuno recently acknowledged that while Japan’s Sports Development Council could...
IGT Lottery Business Deserves More Credit, Says Analyst
International Game Technology (NYSE:IGT) is the maker of the famous Wheel of Fortune slot machine, and has budding exposure to iGaming, among other pursuits. But an analyst argues investors shouldn’t lose sight of the company’s thriving lottery business. In a report to...
Wynn Has Most Affluent Casino Patrons, According to Wells Fargo
With the Consumer Price Index (CPI) residing at four-decade highs, inflation is a prime concern for casino operators. But Wynn Resorts (NASDAQ:WYNN) may have some immunity because of the affluence of its customer base. In a new report, Wells Fargo analyzes household...
