5218 stories by Todd Shriber
DraftKings Could Emerge in Thin Field of Bet365 Bidders
Neither company has commented about the possibility of a marriage Bet365 rumored to be shopping itself or positioning for IPO Private equity looms large Rumors are fresh that Bet365 is considering a potentially transformative transaction, including a full or partial sale or...
Kentucky Derby Betting Sets Record, EBITDA Slightly Off 2024 Pace
Churchill Downs said all-sources Kentucky Derby betting set another record TwinSpires’ handle also notched all-time highs Sovereignty won the 151st edition of the “run for the roses” Despite poor weather and what some analysts are describing as a modest dip in ticket...
NBA Tells CFTC Prediction Market Expansion Threatens Integrity
League tells regulator fast-growing prediction markets could weigh on game integrity NBA concerned about expanding menu of sports contracts offered by prediction market operators The NBA is concerned proliferation of sports event contracts on sites such as Kalshi and PredictIt could imperil...
Legal Group Touts Victory in Bally’s Chicago IPO Saga
Group sued Bally’s, Chicago over exclusion of white men from planned casino IPO Casino operator recently updated IPO prospectus to be race-neutral A conservative legal group representing the plaintiff in a suit against Bally’s (NYSE: BALY.T) and the city of Chicago declared...
Red Rock Details $120M Durango Expansion, Unveils Special Dividend
Says Durango on pace to be one of its “highest-margin properties” Expansion includes 25,000 square feet of new casino space Operator declared special dividend of $1 per share Shares of Red Rock Resorts (NASDAQ: RRR) gained Friday after the operator outlined plans...
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...
