5136 stories by Todd Shriber
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....
DraftKings Stock Wild Ahead of Super Bowl
DraftKings (NASDAQ:DKNG) stock is experiencing a turbulent day ahead of Super Bowl LVI and ahead of the company's fourth-quarter earnings report on Feb. 18. Earlier today, the downtrodden stock traded higher by as much as 7.6 percent, providing hope that it might...
Betting Advertisement Costs More Than Doubled in 2021, Nielsen Ratings Says
With more states approving mobile sports wagering, sportsbook operators are engaging in more advertising. And data confirms they're paying up for the privilege. Nielsen, the television ratings firm, said the cost of television ads for internet gaming, sports betting, and related services...
Monarch Casino Smashes Q4 Estimates on Black Hawk Ramp
Shares of Monarch Casino & Resort (NASDAQ:MCRI) are soaring Thursday. That's after the regional casino operator reported estimate-trouncing fourth-quarter results, and as an analyst ups his outlook on the stock. In midday trading, Monarch stock is higher by nearly eight percent on...
MGM on Buyback Binge, Sees Cosmopolitan Buy Closing in Q2
MGM Resorts International (NYSE:MGM) reported fourth quarter results that blew past Wall Street estimates. That's while noting it's buying back a significant amount of its stock, and that a pair of marquee transactions are slated to close in the second quarter. In...
VICI Properties Boosts Borrowing Capabilities With $3.5B Credit Facility, Term Loan
VICI Properties (NYSE:VICI), the largest casino landlord, is expanding its borrowing capacity in a significant fashion. The company now has access to a new, undrawn combined $3.5 billion unsecured credit facility and a term loan. The gaming real estate investment trust (REIT)...
Penn National Stock Rallies on Susquehanna Upgrade
Penn National Gaming (NASDAQ:PENN) stock is soaring Wednesday. That's after a sell-side analyst waxed bullish on the company's digital gaming unit. In a note to clients, Susquehanna analyst Joseph Stauff lifts his rating on Penn to “positive” from “neutral,” while boosting his...
