5136 stories by Todd Shriber
IGT Stock Dips After Company Pays $2.6 Billion to Renew Italian Lottery Deal
There’s some talk that IGT overpaid to renew an important contract Analysts say overhang on stock has been removed In premarket trading, the stock appeared poised for a Monday rally on news that it renewed its Italian lottery contract, but International Game...
DraftKings Top-Rated Sports Betting App, Caesars Rising
DraftKings takes top spot among OSB apps, according to research firm Caesars, Fanatics making strides, too DraftKings was again the highest-rated online sports betting (OSB) mobile application in a survey conducted by Eilers & Krejcik Gaming (EKG). The research firm recently released...
Eminence Capital Feasts on Sports Betting Stocks, Dumps MGM
Hedge fund was already a large investor in Entain Sandler’s firm starts new Flutter position, adds to DraftKings stake in Q1 Despite already being a large shareholder of Entain Plc (OTC: GMVHF), which owns half of BetMGM, Ricky Sandler’s Eminence Capital boosted...
Einhorn Lifts Penn Entertainment Stake Amid Board Controversy
DME Capital lifted stake in Penn in first quarter Increased Penn position as another hedge fund ramped up attacks on board, CEO In the first quarter, David Einhorn's DME Capital Management increased its investment in Penn Entertainment (NASDAQ: PENN) as another hedge...
Penn Claps Back at Vora, Says Investor Violated State Gaming Laws
Penn board says HG Vora demanded massive buyback, pause on improvements at some regional casinos Board says hedge fund wanted strategic review of entire company Claims investor violated state gaming and federal securities laws In a wide-ranging letter to investors today, Penn...
US-Based Macau Operators Not in Crosshairs, Says Chief Executive
Macau Chief Executive Sam says US-based concessionaires won’t be targets of retaliation Comments come as the US and China make progress on trade The three US-based Macau concessionaires won't be targets of retaliation should US/China trade tensions flare up, according to the...
DraftKings Faces Microbetting Patent Infringement Suit
Suit brought by Micro-Gaming Ventures Plaintiff says DraftKings’ 2024 acquisition of Simplebet highlights importance of microbetting technology DraftKings is facing a patent lawsuit brought by a sports betting technology company that claims the sportsbook operator infringed upon five patents the plaintiff developed...
Queens Casino Plan Boosted by New York Assembly Vote
New York State Assembly votes to allow casino near Citi Field Gaming venue is part of $8 billion Metropolitan Park project pitched by Steve Cohen and Hard Rock International New York Mets owner Steve Cohen’s effort to bring a casino hotel to...
It’s On: Vora Initiates Proxy War Against Penn Entertainment
Hedge fund officially declares proxy war against casino company Vora urges investors to vote for its directors slate Says Penn has destroyed shareholder value In a widely expected move, HG Vora filed a definitive proxy statement against Penn Entertainment (NASDAQ: PENN), making...
Tariff Tumult: Casino Stocks Among Most Shorted S&P 500 Names in April
“Liberation Day” encouraged shorting of casino stocks Caesars, MGM among favorite targets Gaming equities now pinching bearish traders Immediately following “Liberation Day” on April 2, bearish traders laid into casino stocks, making several among the shorted names in the S&P 500. Now,...
