5218 stories by Todd Shriber
Penn Entertainment Admits ESPN Bet is Disappointing
CEO Jay Snowden admits to sports betting disappointment in letter to investors Company looking for ways to “unlock full value” of ESPN relationship Penn Entertainment’s (NASDAQ: PENN) ESPN Bet sports betting brand isn’t where the operator envisioned it would be when it...
Caesars CEO Says Monetization of Digital Unit Still on the Table
Caesars boss says digital unit performing well, but it’s not reflected in share price Options for monetization still possible, but he stopped short of saying “spin-off” Caesars Entertainment (NASDAQ: CZR) delivered first-quarter results late Tuesday with one of the eye-catching numbers being...
California Bookie to Pay $14 Million in Fines After Copping to Tax Evasion Charges
Christopher Scott King ran an illegal betting operation out of Los Angeles DOJ says he caused significant loss to IRS A California bookmaker pleaded guilty on Tuesday to charges of money laundering, running an illegal sports wagering business, and tax evasion, agreeing...
Queens Casino Plan Gets Another Boost Following Committee Vote
State Senate committee votes to allow Cohen to build on parking lot near Citi Field Vote seen as boost for Cohen/Hard Rock casino plan Steve Cohen’s plan to bring a casino hotel to Queens, NY landed another boost Tuesday when a state...
Vora Blasts Penn After Company Cuts Number of Director Nominations
Penn appeared poised to nominate three of investor's proposed directors, not just two Investor claims gaming company is violating shareholder voting rights HG Vora says it will proceed with proxy fight The soap opera between HG Vora and Penn Entertainment (NASDAQ: PENN)...
Thai Casino Bill on the Brink, Citizens Ambivalent
More than 46% of Thai citizens don’t see bill advancing, with or without casino component Similar percentage are apathetic about entertainment complex prospects Thailand’s much-anticipated entertainment complex legislation may not advance as hoped, with or without the inclusion of casinos, and that...
Sands is Out, Community Group Still Says No to Long Island Casino
Las Vegas Sands recently dropped Long Island casino effort Community group wants the plug pulled entirely Las Vegas Sands announced last week that it's dropping its plan to bid for a New York City casino license, but that’s not good enough for...
BetMGM Off to ‘Encouraging’ 2025 Start, Reiterates Positive EBITDA Forecast
iGaming, sportsbook revenue surge in first quarter Operator reiterates forecast of EBITDA positive for 2025 BetMGM said Monday that first-quarter revenue surged 34%, with the operator reiterating the view that it will be positive on the basis of earnings before, interest, taxes,...
US Ops Could Be Forced Out of Macau, Though Unlikely, Says Fitch
US-based Macau casino operators could be forced to sell assets or not renew licenses, says Fitch Ratings agency acknowledges those scenarios aren’t likely even as US/China trade war intensifies The three US-based Macau concessionaries could face dire, though unlikely outcomes in the...
Penn Bends Knee to Vora, Nominates Hedge Fund Picks to Board
Casino operator will nominate Hartnett, Ruisanchez to board Hedge fund previously bashed gaming company’s online betting missteps, board composition Penn Entertainment (NASDAQ: PENN) is acquiescing to HG Vora, telling investors Friday it will nominate two of the hedge fund’s candidates to its...
