5213 stories by Todd Shriber
Fanatics Raises $1.5B, Valuing Company at $27B
Investors are fanatical about Fanatics, as they recently pumped $1.5 billion into the sports merchandise maker, valuing the aspiring gaming company at $27 billion. The latest funding round for Michael Rubin's privately held company included existing investors as well as BlackRock, Fidelity,...
MGM to Repurchase $2B Worth of its Own Stock
MGM Resorts International (NYSE:MGM) announced Wednesday that its board of directors approved a new $2 billion share repurchase plan. That marks one of the largest shareholder rewards programs in the gaming industry since the start of the coronavirus pandemic. The virus outbreak...
SciPlay Acquires Mobile Games Developer Alictus
Social casino developer SciPlay Corp. (NASDAQ:SCPL) is bolstering its lineup of mobile game offerings through the acquisition of Alictus, a Turkish creator of casual games. Under the terms of the deal, Las Vegas-based SciPlay is paying $100 million in cash for 80...
DraftKings Anointed Top Gaming Pick by Morgan Stanley
It's not doing much to move the stock, but DraftKings (NASDAQ:DKNG) is garnering some support today in the form of bullish analyst commentary. Morgan Stanley highlights the daily fantasy sports (DFS) and online sportsbook giant as its top pick in its gaming...
Apollo Looking to Merge Yahoo! Sports with Sportsbook Operator
Apollo Global Management (NYSE:APO) is reportedly holding early stage talks about merging Yahoo! Sports with a sports wagering company. CNBC reported the news earlier today, citing unidentified sources that say the private equity company is discussing a possible transaction with Australia’s PointsBet...
Las Vegas NBA Rumor Heating Up, Pundit Says LeBron James Could Be Involved
This is supposed to be the year in which Las Vegas learns its fate as a potential home of an NBA franchise. While an official announcement from the league hasn't materialized, one pundit believes the association's marriage with the US casino center...
DraftKings CEO 2021 Pay Slides, Still 137 Times in Excess of Median Employee
DraftKings (NASDAQ:DKNG) cofounder and CEO Jason Robins saw his 2021 total compensation tumble, as shares of the sports betting operator did the same. His total pay declined to $14.03 million in 2021 from a staggering $236.83 million the prior year. However, no...
IGT Stock Tumbles Despite Solid 2022 Outlook
Shares of International Game Technology (NYSE:IGT) are plunging Tuesday. That's despite the slot machine manufacturer issuing first-quarter and full-year guidance that, at the high end of the ranges, exceeds consensus estimates. In midday trading, IGT stock is lower by 15.12 percent on...
Rush Street Interactive Likely to Beat Q4 Estimates, Says Analyst
Rush Street Interactive (NYSE:RSI) is scheduled to deliver fourth-quarter results after the close of US markets on Wednesday, March 2. At least one analyst is optimistic about what the gaming company will tell investors. In a new note to clients, Roth Capital...
Bally’s Downgraded as Analyst Sees Investment Cycle Trying Investor Patience
Shares of Bally's (NYSE:BALY) are trading lower to start the week after an analyst downgraded the casino operator. In a note to clients today, Jefferies analyst David Katz lowered his rating on the Rhode Island-based gaming company to “hold” from “buy,” while...
