5448 stories by Todd Shriber
BetMGM Lifts 2025 Guidance, Sees Revenue of at Least $2.75 Billion
BetMGM again boosts 2025 financial targets Expects 2025 revenue of at least $2.75 billion on EBITDA of $200 million Following a strong third quarter, BetMGM boosted its 2025 financial outlook, marking at least the third time this year the operator has done...
Robinhood Could Be on Prowl for Prediction Market Acquisitions
Company currently has prediction markets presence via Kalshi partnership Executive says Robinhood is open to prediction market acquisitions He also implied company could look inward on that front With prediction markets booming, one of the space’s most recognizable participants may be on...
Allwyn, OPAP Create Lottery Giant in $18.6 Billion Merger
Deal creates one of the world’s largest lottery companies Merger could result in buyer listing shares in London or New York Allwyn to control 78.5% of new company Lottery giant Allwyn and Greek gaming company OPAP are merging in an all-equity deal...
Polymarket Investment a Win for ICE, Says Moody’s
ICE’s $2 billion investment in Polymarket meshes with long-term goals Moody’s believes the deal will enhance ICE’s revenue stream Last week, Intercontinental Exchange (NYSE: ICE) invested $2 billion in prediction market operator Polymarket at a pre-money valuation of $8 billion -- a...
Casino M&A Likely Limited Until Interest Rates Decline Further, Says Analyst
Casino consolidation chatter is alive, but not as vibrant as in past years Still high interest rates weighing on Las Vegas Strip asset sales Bolt-on, not transformational deals expected The casino industry is often a hotbed of consolidation rumors, but if chatter...
Kalshi Funding Round Pushes Valuation to $5 Billion
Series D funding round of $300 million vaults Kalshi valuation to $5 billion Prediction markets operator will use capital for international expansion Says it’s the fastest growing non-AI tech company Prediction market Goliath Kalshi said today it finalized a Series D funding...
Sands Earnings Could Be Lifted by Singapore Casino Expansion
Marina Bay Sands’ $8 billion expansion could be accretive to operator’s earnings That would allow Las Vegas Sands to reduce leverage, says Moody’s Las Vegas Sands (NYSE: LVS) recently commenced an $8 billion expansion of its Marina Bay Sands casino resort in...
Flutter Branding Provides Buffer in Prediction Markets Fight
Flutter’s brand advantages, including FanDuel, “intact” amid rise of prediction markets Analyst cites international exposure, strong balance sheet as other favorable factors With investors fretting about the intersection of football and prediction markets, shares of Flutter Entertainment (NYSE: FLUT) are off 15.72%...
Polymarket Taking Bets on Possible DraftKings Prediction Markets Acquisition
Polymarket has a market on DraftKings potentially buying Railbird It calls for traders to wager on a deal being announced or not by October 31 DraftKings (NASDAQ: DKNG) is feeling prediction markets heat and Polymarket knows it. So much so that the...
Caesars an Undervalued Stock to Buy in Q4, Says Morningstar
Caesars stock has been drubbed this year and its Q4 start is ugly Morningstar says the shares are undervalued and worth owning in the fourth quarter Amid slumping Las Vegas Strip visitation, shares of Caesars Entertainment (NASDAQ: CZR) are off 26.24% year-to-date....
