5082 stories by Todd Shriber
Colorado Sports Wagering Handle, Tax Receipts Notch Records in October
For the sixth consecutive month, Colorado's sports betting handle hit all-time highs in October, and tax revenue finally went along for the ride. In the tenth month of 2020, the total amount wagered on sports online and at the Centennial State's retail...
DraftKings Is Royal Idea as Canada Embraces Conventional Sports Wagering
DraftKings (NASDAQ:DKNG) is a gaming equity for investors to consider, as Canadian policymakers mull legislation that will allow betting on individual sporting events, according to one analyst. On Monday, Credit Suisse analyst Benjamin Chaiken highlighted the stock as a play based on...
Cubs Owner Ricketts, DraftKings Investor Raine Group Starting SPAC Targeting Sports Deals
Chicago Cubs owner Tom Ricketts and venture capital firm Raine Group are creating a special purpose acquisition company (SPAC) that will focus on transactions across the sports universe, including betting opportunities. In an S-1 filing with the Securities and Exchange Commission (SEC),...
Score Media, Penn Among Potential Winners as Canada Moves Toward Single-Game Betting
On Thursday, Canada's Liberal Party introduced legislation that would end the country's ban on single-game sports wagers. That sparked rallies in some equities with exposure to the country's betting market. Currently, Canadian gamblers can wager on parlays authorized by provincial lotteries. But...
Londoner Macau Slated to Open February 2021
Sands China's Londoner Macau is nearing completion and is on pace to open in February, potentially positioning the venue to capitalize on rebounding traffic next year in the world's largest casino center. Wilfred Wong, president of Sands China, commented to local media...
Golden Nugget Online Wins New Jersey Approval for Landcadia SPAC Marriage
The New Jersey Casino Control Commission (CCC) Wednesday approved a license for Tilman Fertitta's Golden Nugget Online Gaming (GNOG). It's a move that will allow the internet casino operator to merge with a blank-check company and become a publicly traded entity. In...
Caesars Downgraded by Morgan Stanley, Bank Cites Near-Term COVID-19 Shutdown Risks
Shares of Caesars Entertainment (NASDAQ:CZR) are lower in midday trading after Morgan Stanley downgraded the largest domestic gaming company by number of venues. In a note to clients Wednesday, analyst Thomas Allen points out that a new batch of coronavirus-related restrictions applied...
Burgundy Balking: Asset Manager Says Apollo Offer Undervalues Great Canadian Gaming
There's takeover drama north of the border. Burgundy Asset Management says it has no plans to vote in favor of Apollo Global Management's (NYSE:APO) $2.5 billion takeover offer for Great Canadian Gaming Corp. (GCGC). Private equity behemoth Apollo revealed its acquisition plans...
DraftKings Earns Surprisingly Tepid Review in New UBS Coverage
DraftKings (NASDAQ:DKNG) is usually on the receiving end of heaping amounts of praise from Wall Street. But not all analysts following the name are overly enthusiastic. For example, UBS analyst Eric Sheridan initiated coverage of the daily fantasy sports (DFS) provider and...
Macau Gaming Equities Poised for 2021 Rebound on Pent-Up Demand, Says Morgan Stanley
A rebounding Chinese economy and pent-up demand are among the catalysts that could hasten 2021 recoveries for Macau gaming stocks, Morgan Stanley analysts said today in a note to clients. Six concessionaires, including three US-based companies, operate in the special administrative region...
