5215 stories by Todd Shriber
William Hill Confirms Receiving Apollo, Caesars Takeover Overtures
Shares of William Hill (OTC:WIMHY) are higher by 40 percent in midday trading Friday. That's after the sportsbook operator confirmed private equity firm Apollo Global Management (NYSE:APO) and Caesars Entertainment (NASDAQ:CZR) each approached the UK-based company about a potential takeover. That comes...
Las Vegas Sands Lender Relaxes Covenant Requirement, But There’s Dividend Dilemma
Las Vegas Sands (NYSE:LVS) has reached an agreement with a creditor on looser covenant requirements. But that extra breathing room could weigh on the gaming company's efforts to restore its dividend. In a filing with the Securities and Exchange Commission (SEC), the...
DraftKings Could Use Amazon, Netflix Playbook to Garner Dominant Market Share, Says Analyst
DraftKings (NASDAQ:DKNG) could use templates set forth by other well-known growth companies in their early stages as it moves to garner top-two positioning in the burgeoning iGaming and sports betting markets, according to an analyst that initiated coverage of the stock today....
Penn National Capitalizing on Hot Stock with Secondary Offering, Investors Balk
Penn National Gaming (NASDAQ:PENN) slumped Thursday after the company said it's selling 14 million shares of equity. It's a move that will raise capital, but also dilute current investors. On the news, the stock is lower by more than three percent in...
Colorado Sports Betting Continues Hot Streak, August Handle More Than Doubles
August was just the fourth month in which sports wagering was live and legal in Colorado. But the Centennial State is showing it's a force to be reckoned with in the West, as its total handle for the eighth month of the...
DraftKings, Penn National Chasten Bearish Traders
Broadly speaking, gaming equities are profitable for short sellers this year, owing in large part to first-quarter slumps prompted by the coronavirus pandemic. But DraftKings (NASDAQ:DKNG) and Penn National Gaming (NASDAQ:PENN) are among the names making life uncomfortable for bearish traders. Short...
Macau Recovery Depends on Mass Market, VIPs ‘Under Pressure,’ Says Credit Suisse
Rebound hopes for Macau's still ailing gaming industry lie squarely with mass market players, as tighter regulatory controls potentially crimp VIPs, according to Credit Suisse. Beijing is cracking down on junkets and money transfer channels often used by high-end gamblers looking to...
Barstool Sportsbook Trounces App Download Marks Held by DraftKings, FanDuel
Despite just a single state launch, Penn National Gaming's (NASDAQ:PENN) Barstool Sportsbook app throttled records previously held by rivals DraftKings and FanDuel. The much-ballyhooed sports betting platform, a collaboration between Penn National and Barstool Sports, had a three-day soft launch in Pennsylvania last...
Caesars Offers ‘Transformational Value’, Sports Betting Spinoff Possible Before Year End
Caesars Entertainment (NASDAQ:CZR) is likely in advanced talks with William Hill (OTC: WIMHY) on a joint venture that would see the operators spin off a combined online casinos and sports wagering business, perhaps as soon as this year, according to an analyst....
Bank of America Bullish on Barstool App, Lifts Penn National Target to $85
Penn National Gaming's (NASDAQ:PENN) first test of its relationship with Barstool Sports, that being the Barstool Sportsbook mobile application, appears to be going well. Wall Street is taking note. The gaming company launched the highly anticipated sports wagering app across its home...
