5082 stories by Todd Shriber
Scientific Games OpenBet Sale Credit Positive, Says Moody’s
On Monday, Scientific Games (NASDAQ:SGMS) announced the sale of its OpenBet sports wagering business to Endeavor Group Holdings, Inc. (NYSE:EDR.). The business went for $1.2 billion in cash and stock, a move deemed beneficial to the company's debt reduction efforts. While the...
Caesars Surprise: Company Joins Clairvest in Pursuing Japan Casino License
Caesars Entertainment (NASDAQ:CZR) pulled a surprise Wednesday, announcing it's joining Clairvest Neem Ventures K.K.'s consortium. That group's seeking to bring an integrated resort to Wakayama, Japan. Clairvest Neem Ventures is a unit of Canadian private equity firm Clairvest Group, and is the...
Hard Rock International Could Be Back in Greece Casino Plan
After being rejected last year by the Hellenic Gaming Commission (HGC) in its bid to bring an integrated resort to Greece, Hard Rock International could be back in the mix. GEK Terna, the Greek company that won rights to build a gaming...
American Funds Ratchets Up Kindred Group Exposure
Kindred Group, the Swedish online gaming operator, said Capital Group owns 10.53 percent of its shares and voting rights as of Sept. 24. The owner of the 32Red, Bingo.com, Otto Casino, and Unibet brands, among others, made the announcement regarding Capital Group's...
888 Holdings, Flutter Favored Among UK Sports Betting Stocks
888 Holdings (OTC:EIHDF) is one of the sports betting stocks earning praise from research firm Investec, which favors the recently acquisitive gaming name over rival Entain Plc (OTC:GMVHY). In new coverage of 888, Investec rates the gaming company a “buy,” with a...
Macau Operators Stare Down Credit Risk Amid Government Proposals
The six Macau concessionaires, including Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN), could contend with elevated credit risk as authorities there pursue an agenda that could lead to increased oversight of the gaming industry. Moody's Investors Service says changes to the...
DoubleDown Stock Could Be Near Double in the Making
Social casino operator DoubleDown Interactive (NASDAQ:DDI) went public earlier this month. While the stock is trading slightly below its initial public offering (IPO) price, it's drawing some early optimism in the analyst community. In a recent note to clients, B. Riley analyst...
ARK Invest Continues Buying DraftKings, Genius Sports
Cathie Wood's ARK Investment Management remains bullish on DraftKings (NASDAQ:DKNG) and Genius Sports (NYSE:GENI) and is adding to stakes in those sports betting stocks. Wood is also using pullbacks to add to those positions. For example, shares of DraftKings plunged last Tuesday...
Scientific Games Selling OpenBet to UFC’s Endeavor Group for $1.2B
Scientific Games (NASDAQ:SGMS) is selling its OpenBet sports wagering business to Endeavor Group Holdings, Inc. (NYSE:EDR), the parent company of the Ultimate Fighting Championship (UFC), for $1.2 billion in cash and equity. Under the terms of the agreement, Los Angeles-based Endeavor is...
DraftKings Could Be Pursuing Entain for Technology, Putting MGM in Tough Spot
DraftKings' (NASDAQ:DKNG) pursuit of Entain Plc (OTC:GMVHY) could be centered around acquiring the target's technology capabilities, potentially putting MGM Resorts International (NYSE:MGM) on the prowl for its own sports wagering tech stack. That idea is mentioned by RoundHill Investments co-founder Will Hershey,...
