4002 stories by Todd Shriber
Fanatics IPO Could Finally Happen in 2024
Fanatics could commence an initial public offering in 2024, ending two years of speculation regarding one of the most-anticipated IPOs. Following two investor days, including one in June, speculation swirled that Florida-based Fanatics would finally sell shares to public investors. That didn’t...
Investor Jim Chanos Bullish on Sports Wager Stocks, Says US Bettors Stink
Citing exotic wagers that capitalize on the deficiencies of U.S. sports bettors, famed short seller Jim Chanos is now bullish on sports wagering equities. Chanos, the Kynikos Associates founder who recently converted his hedge fund to a family office structure, announced a...
Entain Seen Adding Ricky Sandler to Board, May Push for BetMGM Sale
Entain Plc (OTC: GMVHF) is reportedly considering adding Eminence Capital founder Ricky Sandler to its board of directors. The move could potentially open the door to a full or partial sale of the operator’s 50% interest in BetMGM. Citing unidentified sources with...
California Tribes Tell Sports Betting Backers to Nix Proposal
The California Nationals Indian Gaming Association (CNIGA) asked backers of recently filed sports betting proposals to halt those plans. In a Friday letter to Eagle1 Acquisitions Corp., LLC executives, CNIGA and another 28 Tribes implored Kasey Thompson, Reeve Collins, and Ryan Tyler...
DraftKings Not Feeling Heat from New Competitors
The US sports wagering landscape is awash in new, well-heeled competitors, but DraftKings (NASDAQ: DKNG) isn’t feeling adverse effects from those fresh entrants. DraftKings and Flutter Entertainment’s FanDuel amount to a duopoly in US online sports betting, controlling more than 70% of...
ESPN Bet Off to Solid Start, Says Analyst
Penn Entertainent’s (NASDAQ: ESPN) recently launched ESPN Bet mobile sports wagering application is off to a solid start in select states. However, that strength may be aided by heavy promotional spending. In a new report to clients, Macquarie analyst Chad Beynon pointed...
Caesars Stock Draws Elevated Options Activity
Amid speculation the Federal Reserve could cut interest rates as soon as the first quarter of 2024, growth stocks have rallied over the past several days, with gaming equities participating in that positive trend. Caesars Entertainment (NASDAQ: CZR) is in on the...
Hofstra Notches Legal Win in Nassau County Casino Suit
Hofstra University has secured a legal victory in blocking Nassau County from transferring the lease on Nassau Veterans Memorial Coliseum to Las Vegas Sands. A New York appeals court handed down the ruling late Wednesday, potentially establishing a hurdle to the gaming...
Meister’s Corvex Management Takes 4.4% Stake in Entain
Less than 24 hours after Jette Nygaard-Andersen resigned as chief executive officer of Entain (OTC: GMVHY), Keith Meister's Corvex Management revealed it took a 4.4% stake in the Ladbrokes owner. Corvex is a major investor in MGM Resorts International (NYSE: MGM), where...
Dallas Mayor Eric Johnson Pragmatic About Casino Idea
Mayor Eric Johnson (R-Dallas) isn't opposed to the idea of a casino hotel near the city. But he's not rushing to support such a plan, either. Instead, he says more discussion is needed on the matter. In remarks made Tuesday at a...
