5139 stories by Todd Shriber
Texas State Rep. Dutton Introduces Mobile-Only Sports Betting Bill, 6.25 Percent Tax Rate
Rep. Harold Dutton Jr. (D-Houston) recently introduced mobile-only sports wagering legislation in the Texas state House. The proposal limits the number of permits issued to five and features a favorable tax rate of 6.25 percent. Dutton is one of the longest-serving members...
Ader SPAC 26 Capital Upsizes IPO in Big Way, Prowls for Gaming Acquisitions
Jason Ader's special purpose acquisition company (SPAC) 26 Capital Acquisition Corp. (NASDAQ:ADERU) recently went public, boosting the size of its offering in a significant fashion. The Miami-based blank-check company initially planned to raise $200 million, selling 20 million units at $10 apiece....
BetMGM Winning Market Share, Analyst Bullish on Parent Company
Entain Plc (OTC:GMVHY) released its fourth-quarter trading update earlier today and there's good news for MGM Resorts International (NYSE:MGM). That's because the read-through on the data is that the companies' BetMGM unit is thriving. The UK-based firm tells investors that BetMGM's online...
Genius Sports SPAC Surges on Bullish Revenue Forecast, Fresh Analyst Coverage
Shares of dMY Technology Group, Inc. II (NYSE:DMYD) are soaring Wednesday after Genius Sports -- the special purpose acquisition company's merger partner -- issued an enthusiastic revenue forecast. Helping the cause is new analyst coverage of the sports betting data provider and...
DraftKings Upgraded by Morgan Stanley, Bank Sees 12 States Legalizing Sports Betting in 2021
DraftKings (NASDAQ:DKNG) stock got a jolt today, with Morgan Stanley analyst Thomas Allen upgrading the sportsbook operator based on a potential spate of state-level legalization this year. The widely followed gaming analyst lifted his grade on DraftKings to “overweight” from “equal weight.”...
Andrew Yang Floats New York City Casino Idea, Plan Faces Steep Odds at Proposed Site
Andrew Yang believes a casino on Governors Island in New York Harbor would be an important contributor to the city's post-pandemic economic recovery. But the idea faces long odds of moving beyond the concept phase. The 2020 Democratic presidential candidate turned New...
ARK Invest, Famed Tesla Supporter, Sees Online Sports Betting Handle Swelling to $180 Billion
Cathie Wood's ARK Investment Management is bullish on the growth trajectories of the esports, fantasy sports, and online sports wagering industries. For operators and investors alike, ARK's call is meaningful. This is because the New York-based asset manager and exchange-traded funds (ETFs)...
Entain Shares Plunge as MGM Says it Won’t Make Another Takeover Offer
Entain Plc's (OTC:GMVHY) US-listed shares are tumbling Tuesday. That's after MGM Resorts International (NYSE:MGM) said it won't revise its acquisition proposal for the British bookmaker. Earlier this month, the Mirage operator offered 0.6 shares for each share of its partner on the...
SJM Grand Lisboa Palace Could Be Swift EBITDA Driver
SJM Holdings' Grand Lisboa Palace is forecast to be a quick contributor to the operator's bottom line. Fitch Ratings projects the property will drive earnings before interest, taxes, depreciation and amortization (EBITDA) of $258 million in 2022, with that figure surging to...
JACK Management Team Acquires Two Ohio Casinos From Dan Gilbert
Billionaire businessman Dan Gilbert is out of the Ohio casino businesses. That's after reportedly selling his JACK Entertainment to the company's management team last month. JACK Chairman Matthew Cullen confirmed to the Cleveland Jewish News (CJN) that the gaming company no longer...
