4975 stories by Todd Shriber
Blackstone May Be Mulling Star Entertainment Buy — With a Catch
Private equity behemoth Blackstone (NYSE: BX) is reportedly considering a run at ailing Star Entertainment, but the US investor could wait until the Australian casino operator is put into administration. The mention of Blackstone, which has a long track record in the...
Super Bowl to Generate $1.7 Billion in Legal Bets, Says Macquarie
The Super Bowl will drive $1.7 billion in legally placed bets this year with DraftKings (NASDAQ: DKNG) named the gaming stock with the most downside or upside leverage to the big game. That's according to a new report by Macquarie analyst Chad...
Robinhood Nixes Super Bowl Bets, Complies with CFTC Request
A day after saying it would offer event contracts on the Super Bowl, Robinhood (NASDAQ: HOOD) said it’s canceling that plan for the time being in order to comply with a request from the Commodities Futures Trading Commission (CFTC). The brokerage firm...
Sports Bettors Eye Income, but Some Take on Debt to Fund Wagers
A scant percentage of sports bettors are consistently profitable and a smaller number are proficient enough to make a living wagering on sports, but those long odds aren’t preventing some bettors from giving it a try. Data from NerdWallet indicate nearly two-thirds...
BetMGM Forecasts 2025 Profitability, Sees Future EBITDA of $500M
BetMGM said Tuesday it expects earnings before interest, taxes, depreciation, and amortization (EBITDA) to be positive this year as it looks toward reaching $500 million in EBITDA in the years ahead. The 50/50 joint venture of MGM Resorts International (NYSE: MGM) and...
Las Vegas Casino Operator Earnings Unlikely to Thrill
Fourth-quarter earnings season is in full swing and when Las Vegas casino operators start reporting this month, investors shouldn’t expect much in the way of big upside surprises. In a note to clients today, Macquarie analyst Chad Beynon said that over the...
Robinhood Partners with Kalshi on Super Bowl Betting Contracts
In advance of the Super Bowl, Robinhood (NASDAQ: HOOD) announced today that it is offering event contracts on the game to customers of its Robinhood Derivatives platform. The brokerage, which entered the fast-growing event contracts space prior to the 2024 presidential election,...
Sphere Entertainment’s MSG Could Be Rescued by Amazon
Sphere Entertainment (NYSE: SPHR) could find relief from the albatross of MSG Networks’ debt should rumors that the regional sports network (RSN) is holding talks with Amazon (NASDAQ: AMZN) prove true. Citing unidentified sources familiar with the matter, The New York Post...
Vora Nominees to Penn Board Viable, Says Analyst
Earlier this week, hedge fund HG Vora nominated three candidates to Penn Entertainment’s (NASDAQ: PENN) board of directors, signaling it’s ready for a proxy fight with the regional casino operator. Those nominees are viewed as valid in the eyes of at least...
VICI Could Eye Acquisition of Caesars Forum, Says Analyst
VICI Properties (NYSE: VICI) could consider purchasing the Caesars Forum convention center on the Las Vegas Strip, which the real estate investment trust (REIT) has an option to buy. That’s the take of Deutsche Bank analyst Carlo Santarelli who recently met with...
