4982 stories by Todd Shriber
Macau October GGR Trending Higher, But Motorcycle Grand Prix Probably Canceled
JPMorgan analysts estimate gross gaming revenue (GGR) in Macau averaged $27.8 million on a daily basis through the first 18 days of October. That's a far cry from pre-coronavirus pandemic levels, but still a marked improvement over September's tally. The Golden Week...
IRS Rules Daily Fantasy Sports Is Gambling, Not Game of Skill
In a memo released last week, the IRS ruled the fees players pay to participate in daily fantasy sports (DFS) are indeed gambling expenses. As such, the endeavor itself should be treated as wagering, not a game of skill. In PLR 202042015,...
Barstool Sportsbook Quickly Grabs Pennsylvania Share, Analyst Sees Large National Footprint
In September, Pennsylvania notched a record sports betting handle of $462.8 million. This topped the previous high mark set just a month earlier by $100 million. The newest entrant to the state's online sports wagering fray, Barstool Sportsbook, quickly accumulated market share....
Macau Rebound Beset by Delays as ‘Friction’ Sets In
Hopes for an earnest fourth-quarter recovery in the gaming mecca of Macau are on hold. Hurdles continue impeding travelers seeking entry into the Chinese territory. That deals a blow to expectations that the last three months of 2020 would shape up better...
Caesars, Wynn Offer Perks, Including Sports Betting, for Investors, Say Analysts
Caesars Entertainment (NASDAQ:CZR) and Wynn Resorts (NASDAQ:WYNN) are among the gaming names offering investors stout upside potential. While sports betting is all the rage in the industry these days, analysts see more to the stories with the two operators. Caesars stock is...
Century Casinos Could Be Next Gaming Winner, Analysts Sees Double Potential
Regional gaming company Century Casinos is on a tear from its March lows, surging nearly 466 percent over that span. But at least one analyst believes the stock has much more upside ahead, particularly if a “transformative” acquisition comes to pass over...
BETSPERTS Lands Another Seven-Digit Funding Round, Eyes LinkedIn Status
BETSPERTS, a social media platform focusing on sports betting, said it recently closed its second round of seven-figure venture funding, bringing in several new investors in the process. The Chicago-based company didn't disclose how much it landed in the most recent seeding...
Playtika Inches Closer to US IPO Valuing Company at $10 Billion
Playtika Holding Corp., a provider of mobile games that was once controlled by Caesars Entertainment (NASDAQ:CZR), is moving closer to a US initial public offering (IPO). It filed related documents with the Securities and Exchange Commission (SEC) last week. The gaming company's...
Caesars, MGM Sports Betting Exposure Isn’t Fully Appreciated, Says Analyst
Caesars Entertainment (NASDAQ:CZR) and MGM Resorts International (NYSE:MGM) are increasing exposure to the rapidly growing domestic sports betting industry. But one analyst argues that the financial market doesn't yet fully appreciate the operators' growing footprints in this arena. Through its pursuit of...
Sportradar Earns Junk Credit Rating from Fitch, Outlook Stable
Sports data provider Sportradar landed a long-term issuer default rating of “B” with a “stable” outlook from Fitch Ratings after the privately held company sold $494.36 million in debt. That senior secured loan issue was graded “B+” by Fitch. Both marks are...
