5134 stories by Todd Shriber
Penn Credit Profile Weakening, ESPN Bet Problematic, Says Analyst
Penn Entertainment credit profile weakening as rent leverage increases ESPN Bet viewed as overhang Penn Entertainment’s (NASDAQ: PENN) credit profile is being pinched by rising rent-adjusted leverage -- a scenario expected to linger throught this year -- and the operator’s ESPN Bet...
DraftKings, FanDuel to Bear Brunt of New Jersey Online Betting Tax Hikes
Two largest operators would see taxes in the state increase by an estimated $126 million New Jersey hasn’t officially approved governor’s plan to boost iGaming, sports wagering taxes DraftKings and FanDuel, the two largest online sportsbook operators in the US, would bear...
Flutter Forecasts Up to $300 Million in Q2 Share Repurchases
Part of $5 billion buyback program announced last year Announcement arrives a day after FanDuel parent delivered quarterly results Flutter Entertainment (NYSE: FLUT) said Wednesday it plans to repurchase as much as $300 million worth of its shares in the second quarter...
Kalshi Kicked Out of Nevada by NGCB
Prediction market has until March 14 to exit Nevada Latest sign of state’s hostility to web-based wagering Prediction market operator Kalshi has been ordered by the Nevada Gaming Control Board (NGCB) to halt its activities in the state and exit by 5...
Flutter Issues Strong 2025 Guidance Backed by FanDuel Growth
Flutter forecasts sizable 2025 EBITDA, revenue growth US operations could represent close to half of 2025 sales Flutter Entertainment (NYSE: FLUT) announced impressive 2025 earnings before interest, taxes, depreciation, and amortization (EBITDA), and revenue guidance on Tuesday -- outlooks that accompanied the...
Genius Sports Rallies on Upped 2025 Revenue Guidance
Data provider unveils 2025 guidance Revenue outlook of $620 million easily beats Wall Street consensus On another rough day for domestic equities, Genius Sports (NYSE: GENI) stood out as shares of the sports betting data provider surged on the back of strong...
Wynn NYC Casino Could Threaten Small Businesses, Say Owners
Business owners worry about impact of casino in Hudson Yards Related Cos. and Wynn want license for Chelsea-area casino hotel Small business owners in New York City’s Hudson Yards area, which includes the tony Chelsea neighborhood, are fearful that a proposed casino...
Panda Interactive Sues Genius, Sportradar, Alleges Coercive Behavior
Company adds antitrust claims to patent infringement suit Panda claims rivals purposefully limit customer choice SportsCastr Inc., the sports betting data provider that does business as Panda Interactive, today announced that it amended a 2023 patent infringement suit against rivals Genius Sports...
DraftKings Reaches $10 Million Settlement in NFT Lawsuit
DraftKings settles 2023 class-action suit for $10 million Suit claimed non-fungible tokens (NFTs) were securities DraftKings (NASDAQ: DKNG) agreed to settle a 2023 class-action lawsuit brought by buyers of non-fungible tokens (NFTs) on the gaming company’s now defunct DraftKings Marketplace. Reached last...
Entain Upheaval Could Prompt Fresh MGM Bid
MGM could consider new bid for Entain following CEO exit US casino operator tried to acquire BetMGM partner four years ago Following the recent departures of three high-level executives, including now former CEO Gavin Isaacs, Entain Plc (OTC: GMVHY) could draw a...
