5402 stories by Todd Shriber
Prediction Markets Could Face Liability if Deemed Addictive, Says Law Firm
Prediction markets could contend with legal liability if courts view the industry as pushing an addictive product Getting there requires courts to make judgments on whether the industry is operating in the realm of finance or as gaming enterprises Plaintiffs face significant...
Kalshi Launches Market on Caesars Takeover Odds as Buyout Speculation Builds
Prediction market operator will hang a market on Caesars potentially being acquired Rumors to that effect emerged last week There’s talk of a management-led buyout and Tilman Fertitta being involved Thanks to Kalshi, the Caesars Entertainment (NASDAQ: CZR) takeover rumor got a...
DraftKings Forecasts 30% EBITDA Margins, Unveils Super App Plans
DraftKings forecasts long-term adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 30% Sees potential upside to that projection Company sees $55 billion to $80 billion industry “gross revenue opportunity” In advance of its investor day, which is taking place...
DraftKings Investor Day Could Spark the Stock, Says Analyst
DraftKings holds its investor day on Monday The stock is down 44.22% over the past year and 30.82% year-to-date Analyst says prediction markets commentary could be a catalyst for shares With the stock down nearly 31% since the start of the year,...
Bally’s Acquires Bronx Casino Land for $156.6 Million
Bally’s buys 16 acres on which a casino hotel will be built The land is part of acreage currently occupied by a golf course Company plans to spend $4 billion on Bronx casino project Bally’s reportedly now has control of 16 acres...
Churchill Downs Won’t Allow Prediction Markets Access to Kentucky Derby
Company says prediction markets need its consent to offer Derby event contracts Gaming firm hasn’t agreed to provide that authorization and doesn’t appear willing to When the Kentucky Derby takes place on Saturday, May 2, don’t expect to see event contracts tied...
Caesars Considering Buyout Bids, Including One From Tilman Fertitta
Caesars stock surged late Thursday amid reports multiple bidders are eyeing the company One of the prospective buyers is rumored to be Tilman Fertitta Other Las Vegas casino stocks moved higher in sympathy On the back of a late-day rally, shares of...
VICI Properties Mum on Caesars Regional Casino Negotiations
Casino REIT didn’t have much to say regarding talks with tenant Caesars VICI CEO says company is looking for “win-win” solution Weakness at Caesar regional casinos has been a problem for VICI stock Perhaps disappointing investors in both companies, VICI Properties’ (NYSE:...
Louisiana Purchase: Bally’s Buys Boyd Shreveport Casino
Boyd is selling Sam's Town Hotel & Casino in Shreveport, to Bally’s Financial terms not disclosed Deal expected to close in third quarter Boyd Gaming (NYSE: BYD) said today it reached an agreement to sell the Sam's Town Hotel & Casino in...
DriveWealth Adding Kalshi Event Contracts to Brokerage Platform
DriveWealth operates a business-to-business brokerage platform It’s integrating Kalshi event contracts so users of its platform can offer those derivatives to clients Prediction market behemoth Kalshi and brokerage firm DriveWealth are teaming up to bring Kalshi event contracts to the financial technology...
