5315 stories by Todd Shriber
Vora Says Penn Destroyed $11 Billion in Value with Sour OSB Deals
Vora says Penn fumbled online gaming opportunity by focusing on sports betting Vora estimates Penn destroyed $11 billion in shareholder value with bad sports wagering transactions Calls Penn a sports betting “laggard” In its latest salvo aimed at Penn Entertainment (NASDAQ: PENN),...
Cohen’s $8 Billion Queens Casino Plan Gets Nod from Senate Leader
Momentum building for Metropolitan Park plan News arrived a day after Wynn bowed out of NYC casino competition While other contenders are dropping out of the New York City casino fray, an $8 billion proposal to bring a gaming venue to Queens...
Penn Interactive Revenue Could Double by 2029, Says Analyst
Analyst includes some positive remarks on ESPN Bet Says Penn’s interactive sales could double by 2029 Among the most bullish comments to date on Penn’s digital unit Penn Entertainment’s (NASDAQ: PENN) interactive segment, which includes the flailing ESPN Bet online sportsbook, has...
MGM, Wynn Held Talks with Officials on Thailand Casinos
Deputy Finance Minister Amornvivat confirms talks with US casino giants Says discussions with two other gaming companies are on deck Reading of gaming bill in parliament scheduled for July 9 A high-ranking Thai official confirmed recent discussions with MGM Resorts International and...
Vora Says Penn Plan to Refresh Board Lacks Accountability
Hedge fund calls plan to possibly add a director after annual meeting “an assault” on investor rights Claims Penn is manipulating board electoral process HG Vora, the activist investor that’s waging a proxy fight against Penn Entertainment (NASDAQ: PENN), called the possibility...
Wynn Drops New York Casino Bid, Cites ‘Persistent Opposition’
Company says recent rezoning process highlights more effective uses of capital Mentions lingering opposition despite pledge to create 5,000 jobs The New York City casino competition is chewing up bidders and spitting them out with Wynn Resorts (NASDAQ: WYNN) becoming the latest...
IGT Stock Dips After Company Pays $2.6 Billion to Renew Italian Lottery Deal
There’s some talk that IGT overpaid to renew an important contract Analysts say overhang on stock has been removed In premarket trading, the stock appeared poised for a Monday rally on news that it renewed its Italian lottery contract, but International Game...
DraftKings Top-Rated Sports Betting App, Caesars Rising
DraftKings takes top spot among OSB apps, according to research firm Caesars, Fanatics making strides, too DraftKings was again the highest-rated online sports betting (OSB) mobile application in a survey conducted by Eilers & Krejcik Gaming (EKG). The research firm recently released...
Eminence Capital Feasts on Sports Betting Stocks, Dumps MGM
Hedge fund was already a large investor in Entain Sandler’s firm starts new Flutter position, adds to DraftKings stake in Q1 Despite already being a large shareholder of Entain Plc (OTC: GMVHF), which owns half of BetMGM, Ricky Sandler’s Eminence Capital boosted...
Einhorn Lifts Penn Entertainment Stake Amid Board Controversy
DME Capital lifted stake in Penn in first quarter Increased Penn position as another hedge fund ramped up attacks on board, CEO In the first quarter, David Einhorn's DME Capital Management increased its investment in Penn Entertainment (NASDAQ: PENN) as another hedge...
