5449 stories by Todd Shriber
DraftKings’ Venture Capital Arm Debuts $60M Fund
DraftKings (NASDAQ:DKNG) announced today its venture capital unit, Drive by DraftKings, is rolling out its first venture fund, following a $60 million raise. Drive by DraftKings invests in entertainment and sports technology companies, among others. The venture unit of the Boston-based daily...
Las Vegas Sands Management Needs to ‘Take a Stand’, Buyback Stock, Says Analyst
Las Vegas Sands (NYSE:LVS) reported third-quarter results late Wednesday, and the results were worse than expected. That prompted an analyst to say management should move swiftly to buyback shares in an effort to restore investor confidence. Amid still lingering travel restrictions in...
Scientific Games Pares SG Lottery Australia IPO to $3B, Still 15x 2022 Fiscal Earnings
Scientific Games (NASDAQ:SGMS) is reportedly trimming the size of a Sydney initial public offering (IPO) for its SG Lottery arm to $3 billion, valuing it at roughly 15x fiscal 2022 earnings. Previous speculation mentioned the Las Vegas-based company could raise up to...
Invesco Likes International Betting Stocks, Including Entain, Flutter
Since the 2018 Supreme Court ruling on the Professional and Amateur Sports Protection Act (PASPA), the investment community largely focused on the US market. But some fund managers still see a lot to like with international betting stocks. In a recent report...
Okada Manila Considering Japan Expansion After SPAC Deal Closes
Fresh off announcing plans to merge with a special purpose acquisition company (SPAC), Okada Manila could be eyeing its next move: expanding in Japan, its parent company's home country. Last Friday, Okada Manila, the world’s only Japanese-owned integrated resort, said it's merging...
Churchill Downs, Penn National Earn ‘Buy’ Ratings as Berenburg Starts Coverage
Berenberg analyst Zachary Silverberg initiates coverage of several gaming stocks today, revealing bullish views on a quartet of well-known names in the group. The analyst is constructive on lottery and gaming technology providers, such as consumer-facing, land-based operators, including Churchill Downs (NASDAQ:CHDN)...
DraftKings, Polygon Team Up on Blockchain Accord
DraftKings (NASDAQ:DKNG) is forging deeper into the cryptocurrency space, announcing today that it's partnering with Polygon to support debuts on non-fungible tokens (NFTs) on DraftKings Marketplace. DraftKings Marketplace recently launched and features “curated NFT drops and supports secondary-market transactions.” The platform partners...
GAN in Spotlight Following Aristocrat Deal for Playtech
Late Sunday, Australian gaming machine Aristocrat Technologies announced it's purchasing rival Playtech in a $3.71 billion transaction. That values the target at a 58 percent premium to where it closed last Friday. At least one analyst believes the deal highlights potential opportunity...
Aristocrat Acquiring Playtech, Deal Values Target at $3.71B
Aristocrat Technologies, one of the world's largest makers of gaming machines, is acquiring rival Playtech for 680 pence ($9.35) in cash -- a 58.4 percent premium to the target's Oct. 15 closing price. The offer values UK-based Playtech at $3.71 billion on...
Derek Stevens Refutes DraftKings/Circa Takeover Rumor in Twitter Kerfuffle
Circa Sports founder and CEO Derek Stevens took to Twitter earlier today to refute speculation his company is for sale, calling the rumor “pure BS.” In highlighting tidbits from the firm's most recent sports betting monitor report, Eilers & Krejcik analyst Chris...
