4982 stories by Todd Shriber
Bally’s Brand Heading to Sinclair Sports Networks, Gaming Company Buying Bet.Works for $125 Million
In another sign of rejuvenation for the Bally's brand, the gaming company will reportedly attach its name to 21 regional sports networks (RSNs) owned by Sinclair Broadcast Group. That marks perhaps the boldest tie-up to date between a casino operator and a...
GAN Buying Coolbet for $175 Million, Adds Online Sportsbook Platform
Gaming technology provider GAN Ltd. (NASDAQ:GAN) is bolstering its business-to-business (B2B) offerings. The company says it will acquire Vincent Group Plc, also known as Coolbet, for $175 million in cash and equity. UK-based GAN said the transaction will be funded with $95...
DraftKings Jumps as Loop Capital Reveals $100 Target, Highest on Wall Street
DraftKings (NASDAQ:DKNG) is off to a strong start Tuesday. Loop Capital initiated coverage of the daily fantasy sports (DFS) and sportsbook operator with a “buy” rating and $100 price forecast. Since going public in late April, DraftKings frequently garners praise from the...
Druckenmiller Dumps DraftKings, Boosts Penn National Stake
Stanley Druckenmiller's Duquesne Family Office was active with gaming equities in the third quarter. That includes a sizable addition to a previously existing position in Penn National Gaming (NASDAQ: PENN). During the July through September time frame, the investment vehicle, which has...
Macau Stocks Rally as Moderna Says COVID-19 Vaccine Has 94.5 Percent Efficacy Rate
Gaming operators with exposure to Macau are among the best-performing industry names Monday. That's after biotechnology company Moderna, Inc. (NASDAQ:MRNA) revealed encouraging late-stage trial results for its coronavirus vaccine. In midday trading, most US-based casino operators are trading even as COVID-19 case...
DraftKings Sailing Rising Tide, Has Multiple Advantages, Says Needham Analyst
Despite recent struggles, DraftKings (NASDAQ:DKNG) stock remains a Wall Street favorite. That sentiment is on display Monday, as Needham analyst Brad Erickson voiced enthusiasm for the name. In a note to clients, Erickson reiterates a “buy” rating and a $70 price target...
Genting Joins Rivals with Japan Jitters
Genting Singapore has long been one of the major gaming companies pursuing an integrated resort license in Japan. But the operator is appearing less devoted to the Land of the Rising Sun than it was in previous months. In reporting third-quarter results...
Loeb’s Third Point Makes Big Bet on Caesars, Buys One Million Shares
Count Third Point LLC among the hedge funds embracing Caesars Entertainment (NASDAQ:CZR). The New York-based money manager added one million shares of the gaming giant during the third quarter in a position valued at $56.06 million, according to a Form 13F filing...
Wynn Resorts Executives Use Vaccine Rally to Unload Stock
A pair of Wynn Resorts (NASDAQ:WYNN) executives took advantage of a big pop in the stock earlier this week to reduce exposure to their employer's shares. On Monday, gaming equities, with Wynn acting as one of the leaders, vaulted higher. That's after...
Red Rock Resorts Rallies as JPMorgan Praises Management, Las Vegas Locals Segment
Red Rock Resorts (NASDAQ:RRR) is one of the today's best-performing gaming stocks, surging more than six percent. That's after JPMorgan analyst Joseph Greff reiterated an “overweight” rating on the parent company of Station Casinos. Joining some of his sell-side colleagues in doing...
