5083 stories by Todd Shriber
E*TRADE to Portnoy: ‘Hit the Road, Davey,’ Broker Boots Barstool Boss
Barstool Sports founder David Portnoy is day trading his way into being a cult leader of a youthful rebellion against financial market norms. But his business will no longer be welcome at brokerage firm E*TRADE. With offerings for sports bettors still slim,...
Gaming and Leisure Properties Approved for St. Louis Casino Real Estate Monopoly
The Missouri Gaming Commission (MGC) is reversing its stance from two years ago, making Gaming and Leisure Properties, Inc. (GLPI) the lone landlord for the six casinos in the St. Louis area. On Wednesday, the commission voted 4-1 in favor of allowing...
Mandalay Bay Draws Ire of Religious Leaders Over Foundation Room Statues
UPDATE: The Foundation Room issued a statement after publication of this article, saying it will be “removing the statue Mahavira from our premises” and that it's “ working diligently to ensure such insensitive depictions don’t happen again.” __________________________________________________________________________________________________________________________ Religious leaders from five...
DraftKings Analyst Boosts Estimates, Sees Favorable Legislative Landscape Despite California Setback
In a note to clients today, Canaccord Genuity analyst Michael Graham lifted his second-quarter revenue estimate on DraftKings (NASDAQ:DKNG). He cited better-than-expected stability during the coronavirus economic shutdown and the company's recent capital raise. Last week, the daily fantasy sports (DFS) firm...
Morgan Stanley Anoints Online Casinos, Sports Betting as Prime Post-Virus Investment Themes
Morgan Stanley is out with a list of investment ideas poised to benefit in a post-coronavirus world, and internet casinos and sports wagering make the cut. The bank says the pandemic is causing dramatic alterations in consumer consumption and spending, and that...
Macau Casinos Unlikely to See Uptick in Mainland Chinese Visitors in July, Says Research Firm
The halt on the individual visit scheme (IVS) — a vital source of visas for mainland Chinese citizens looking to enter Macau — probably won't be lifted next month, according to brokerage house Bernstein. Beijing initially froze IVS issuance late last year...
DraftKings Plants Seeds in the Garden State, as NJ Sport Calendar Remains Sparse
Fantasy sports leader DraftKings (NASDAQ:DKNG) is entering the online fray in New Jersey, as the US sports slate still isn't close to being back from pre-coronavirus shutdown heights. Currently, New Jersey and Pennsylvania are the only states permitting internet casinos. But that...
Penn National Powers Higher Fueled by Analyst Comments, Portnoy Chatter
Shares of Penn National Gaming (NASDAQ:PENN) are higher by nearly 15 percent in midday trading on volume that's already exceeded the daily average. That's after Barstool Sports founder David Portnoy said his company, which is 36 percent owned by Penn, has a...
Chanos, Famed Short Seller, Sees Macau Concession Risk for Las Vegas Sands, Wynn Resorts
Kynikos Associates founder Jim Chanos, one of Wall Street's most noted short sellers, believes Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN) are facing Macau concession renewal risk that's not being adequately reflected in current share prices. Chanos made the comments Monday...
California Tribes Flex Political Muscle, Sports Betting Bill Yanked Days Before Vote
California tribal gaming operators are wielding their political clout in the largest US state, potentially prompting state Sen. Bill Dodd (D-Napa) to pull legislation to legalize sports betting that was to be voted on later this week. With news of the proposal...
