4980 stories by Todd Shriber
DraftKings Promo Spending Likely Eroded Q4 Net Revenue, Says Analyst
Online sportsbook operators are known for spending big to attract customers, and DraftKings (NASDAQ:DKNG) is no exception to that trend. But at least one analyst is concerned about the company's promotional expenditures eating at fourth-quarter net gaming revenue (NGR). In a note...
Wynn Selling Encore Boston Harbor Property Assets to Realty Income for $1.7B
Wynn Resorts (NASDAQ:WYNN) is selling the real estate assets of Encore Boston Harbor to Realty Income (NYSE:O) for $1.7 billion -- the equivalent of a 5.9 percent cap rate. In the latest sale-leaseback deal in the gaming industry, the gaming company will...
DC Lottery Betting App Picks Worst Time to Fail: During Super Bowl
Already ensconced in controversy, Washington, DC Lottery's GambetDC -- the lottery-sponsored sports wagering mobile app -- picked the worst possible time to fail iPhone users: During Sunday's Super Bowl. Bettors using iPhones and iPads weren't able to place wagers on the GambetDC...
Litt’s Land & Buildings Adds Caesars, Dumps Boyd Gaming
Jonathan Litt's Land & Buildings Investment Management, LLC (L&B) tinkered with its gaming industry exposure in the fourth quarter. It added shares of Caesars Entertainment (NASDAQ:CZR) to its portfolio. In the final three months of 2021, L&B bought 130,780 shares of Caesars...
Soros Liquidates Caesars, VICI Stakes, Cooperman Adds to Las Vegas Sands Holdings
Soros Fund Management, the family office of billionaire financier George Soros, departed a pair of gaming equities in the fourth quarter, leaving the investment vehicle with no exposure to the industry. A recently filed Form 13F with the Securities and Exchange Commission...
Paysafe Gains Louisiana, Oregon Market Access
Shares of Paysafe Ltd. (NYSE:PSFE) are rallying Monday. That's after the provider of digital payments services said it's now processing payments for sportsbook operators in Louisiana and Oregon. That new market access for the fintech company comes about because of prior relationships...
DraftKings, Rush Street Interactive Price Targets Slashed by Oppenheimer
A day after the Super Bowl, gaming equities are mixed and some sports betting stocks are dithering following the conclusion of football season. That includes DraftKings (NASDAQ:DKNG) and Rush Street Interactive (NYSE:RSI), which are trading lower to start the week after a...
MGM, IAC Buying $405M in Stock from Corvex Management
MGM Resorts International (NYSE:MGM) and Barry Diller’s IAC/InterActiveCorp (NASDAQ:IAC) announced today they are buying nine million shares of the casino operator. The purchase comes from shares held by Keith Meister’s Corvex Management at $45 apiece in a transactions valued at $405 million....
Kambi Could Be Takeover Target After Ditching Poison Pill
Takeover speculation is swirling around Kambi Group Plc (OTC:KMBIF). That's after the sports betting platform provider ditched a poison pill provision hindering its ability to be acquired. Kambi said last week it satisfied the terms of a $8.5 million convertible bond agreement...
BetMGM Debuts Sports Wagering in Puerto Rico Ahead of Super Bowl
Just in the nick of time for Super Bowl LVI, BetMGM is launching sports wagering in Puerto Rico -- the operator's initial foray outside the continental US. BetMGM is now available at Casino del Mar at La Concha Resort in San Juan....
