5460 stories by Todd Shriber
fuboTV, Eyeing Sportsbook Launch, Acquires Vigtory
Shares of online streaming service fuboTV (NYSE:FUBO) are soaring Tuesday after the company said it's purchasing sports wagering firm Vigtory. The move is expected to aid the buyer's effort to launch a web-based sportsbook at some point this year. Terms of the...
Penn National Gaming Tops $100, Market Cap Bigger Than MGM
Boosted by speculation on the fate of online sports betting in New York and a strong weekend handle on NFL games, Penn National Gaming (NASDAQ: PENN) surged seven percent Monday on volume that was more than 50 percent above the daily average....
Macau Casino Equities Ready for Second Half Rebound, Says Morgan Stanley
Shares of Macau gaming operators could endure lethargic starts to 2021 before a catalyst-rich rebound materializes in the second half of the year, according to Morgan Stanley. New capacity, increased domestic travel, and momentum for license renewal are among the factors that...
Las Vegas Sands Eyes Sports Wagering Entry
Las Vegas Sands (NYSE:LVS) is reportedly mulling getting into the booming sports wagering business. That potentially marks a move into online gaming, an area Chairman Sheldon Adelson has long voiced opposition against. Earlier Friday, Bloomberg reported Sands acting CEO Rob Goldstein is...
Snow Lake Founder Ma Says MGM Letter Prompted by Breakdown in Board Discussions
Snow Lake Capital founder Sean Ma said the letter he sent earlier this week to the board of MGM Resorts International (NYSE:MGM) urging the gaming company to sell 20 percent of its equity in MGM China Holdings (OTC:MCHVF) came about after failed...
Playtika Plans $1.6 Billion IPO Valuing Itself at up to $9.4 Billion
Playtika, the Israeli mobile gaming company, updated a Form S-1 filing with the Securities and Exchange Commission (SEC) today. The filing said it plans to sell $1.6 billion worth of equity in a US initial public offering (IPO) valuing the firm at...
International Game Technology Wins Patent for Bitcoin Slot Machine Transactions
Shares of gaming device manufacturer International Game Technology (NYSE:IGT) surged Wednesday. That's after the company won a patent that would allow gamblers to use digital currencies, such as bitcoin, on slot machines. The US Patent and Trademark Office (USPTO) granted IGT a...
Snow Lake Capital Presses MGM to Sell 20 Percent of China Business
Sean Ma’s Snow Lake Capital Ltd. is urging MGM Resorts International (NYSE:MGM) to sell 20 percent of the Macau business. They suggest the stake go to a “leading” Chinese consumer internet or travel and leisure company to unlock shareholder value. The corporation...
Maddox Sells 56,000 Shares of Wynn Stock, Cashing Winning Bet on Company Equity
Wynn Resorts (NASDAQ:WYNN) CEO Matt Maddox recently sold about 56,000 shares of the company's stock. Maddox was taking some profits after a tumultuous year in which the gaming name sagged due to the coronavirus pandemic, then proceeded to more than triple from...
MGM Explains Entain Acquisition Offer, Analyst Calls it ‘Smart, Strategic’
MGM Resorts International (NYSE:MGM) has confirmed it made an $11.06 billion takeover bid for Entain Plc (OTC:GMVHY), its partner on the BetMGM venture, and that the British company turned back the proposal, saying it undervalues the company. On Sunday, news emerged that...
