5217 stories by Todd Shriber
California Sports Betting Gains Momentum as State Scrambles for Cash, Estimates Swell
Staring down a budget deficit of $54 billion that policymakers claim was forced by the coronavirus, California is scrambling for ways to raise revenue, breathing new life into efforts to legitimize sports betting there in the process. Last week, Sen. Bill Dodd...
Genting Berhad Hit With Lower Credit Rating as S&P Forecasts Slow Business, Rising Leverage
Standard & Poor's (S&P) has trimmed its credit rating on Asian gaming giant Genting Berhad, saying business will remain slow in some of the operator's crucial markets following the coronavirus pandemic. The service also said that corporate leverage could increase as a...
Macau Experiences May Showers as Gross Gaming Revenue Plunges 93 Percent
May was another brutal month for Macau, as gross gaming revenue (GGR) in the world's largest casino center plunged 93.2 percent. Strict travel controls continue to hamper the Special Administrative Region's (SAR) recovery efforts. Earlier today, the Gaming Inspection & Coordination Bureau...
Louisiana Voters Likely Getting Sports Wagering Say This Year, No Bets Until at Least 2021
Louisiana voters are likely getting the opportunity to decide the fate of sports betting, with the issue scheduled to appear on November ballots. But it will be 2021 at the earliest before legitimate wagers are accepted in the Pelican State. After sports...
Fox Ups Flutter Bet as FanDuel Parent Sells $1 Billion of New Equity
Fox Corp. (NASDAQ:FOXA) is boosting its stake in Betfair and Padd.yPower parent Flutter Entertainment. The world's largest online gaming company said earlier this week it's selling $1 billion worth of equity in a secondary offering. Flutter, which also owns FanDuel, among other...
Penn National Scores Price Target Hike, Analyst Gushes Over Barstool, iGaming
On a mostly lethargic day for gaming equities, shares of Penn National Gaming (NASDAQ:PENN) are standing out, thanks to a sell-side analyst boosting his price target on the stock in dramatic fashion, citing catalysts including Barstool Sports and online casinos. In a...
New Jersey Regulators Won’t Discuss Eldorado/Caesars Deal at June Meeting
The long-awaited discussion of Eldorado Resorts' (NASDAQ:ERI) $17.3 billion takeover of Caesars Entertainment (NASDAQ:CZR) by New Jersey regulators is being pushed back, potentially delaying efforts to wrap up the deal in June. The New Jersey Casino Control Commission (CCC) is scheduled to...
MGM China Dashes for Cash, Lands $503 Million Bank Credit Line
Looking to shore up its balance sheet as Macau visits and revenue remain in the dumps, MGM China said it gained access to a new $503 million credit facility. The operator of the MGM Cotai and MGM Macau said it's initially drawing...
DraftKings Deal With Sportradar Allows Bettors to Stream Bundesliga, Korean Baseball
DraftKings (NASDAQ:DKNG) is looking to capitalize on the dearth of domestic athletic competitions while positioning for the return of a fuller sports calendar. In an agreement announced today with Sportradar, they now can offer bettors access to streaming of some international leagues....
GAN Stock Explodes Higher on Pennsylvania iGaming Deal With Cordish
Shares of gaming software maker GAN Ltd. (NASDAQ:GAN) are soaring Thursday after the company said it inked a deal with Cordish Companies to provide iGaming services tied to two Pennsylvania casinos. Up more than 16 percent at this writing Thursday, GAN stock...
