5214 stories by Todd Shriber
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...
Caesars in Jeopardy of Losing License for Unfinished South Korea Integrated Resort
Caesars Entertainment is on the clock to complete its Midan City integrated resort project on Yeonjong Island in South Korea, or risk losing its license. Construction on the $700 million Caesars Korea project has been halted since February 2020 because of the...
Texas’s Tidy Finances Could Weigh on Casino Efforts
In the domestic casino industry, Texas is the golden goose. For operators yearning to develop gaming properties in the Lone Star State, problematic is the state's sturdy fiscal position. Like so many states, Texas is facing some budgetary issues stemming from the...
