5133 stories by Todd Shriber
Layup Looks to Combine Parlays with Saving Money
Company offers unique spin on parlay betting with a savings kicker Deposits are saved, not wagered Bettors love parlays, but the real winners in those long odds wagers are sportsbook operators. A financial technology (fintech) company is looking to make parlays more...
Sporttrade, with State Licenses in Tow, Asks CFTC for National Approval
Sports prediction market seeking permission to operate nationally It’s the first sports-only derivatives shop to seek such approval To avoid what it describes as potential “irreparable harm,” sports betting exchange operator Sporttrade is asking the Commodities Futures Trading Commission (CFTC) to grant...
Bet365 Reportedly in Talks on Sale at $12 Billion Valuation or IPO
Company is said to be holding talks with US bankers Options include an IPO or asset sales Bet365 is rumored to be holding talks with US investment bankers regarding a possible sale of the gaming company at a $12 billion valuation. The...
MGM to Repurchase $2 Billion in Stock After Feasting on Shares in Q1
Casino operator announces new $2 billion repurchase program Says it bought back 15 million shares in the first quarter MGM Resorts International (NYSE: MGM) will remain a dedicated buyer of its stock with the largest operator on the Las Vegas Strip announcing...
LVS Selling Notes to Refi $500M in Debt, Possibly Repurchase Stock
Casino operator will refinance $500 million of old debt Some proceeds could be used to buy back stock Offering not officially priced as of yet Las Vegas Sands (NYSE: LVS) filed a prospectus with the Securities and Exchange Commission (SEC) indicating it...
Penn Entertainment Admits ESPN Bet is Disappointing
CEO Jay Snowden admits to sports betting disappointment in letter to investors Company looking for ways to “unlock full value” of ESPN relationship Penn Entertainment’s (NASDAQ: PENN) ESPN Bet sports betting brand isn’t where the operator envisioned it would be when it...
Caesars CEO Says Monetization of Digital Unit Still on the Table
Caesars boss says digital unit performing well, but it’s not reflected in share price Options for monetization still possible, but he stopped short of saying “spin-off” Caesars Entertainment (NASDAQ: CZR) delivered first-quarter results late Tuesday with one of the eye-catching numbers being...
California Bookie to Pay $14 Million in Fines After Copping to Tax Evasion Charges
Christopher Scott King ran an illegal betting operation out of Los Angeles DOJ says he caused significant loss to IRS A California bookmaker pleaded guilty on Tuesday to charges of money laundering, running an illegal sports wagering business, and tax evasion, agreeing...
Queens Casino Plan Gets Another Boost Following Committee Vote
State Senate committee votes to allow Cohen to build on parking lot near Citi Field Vote seen as boost for Cohen/Hard Rock casino plan Steve Cohen’s plan to bring a casino hotel to Queens, NY landed another boost Tuesday when a state...
Vora Blasts Penn After Company Cuts Number of Director Nominations
Penn appeared poised to nominate three of investor's proposed directors, not just two Investor claims gaming company is violating shareholder voting rights HG Vora says it will proceed with proxy fight The soap opera between HG Vora and Penn Entertainment (NASDAQ: PENN)...
