3978 stories by Todd Shriber
Penn Registers 1.25M Shares Portnoy Can Sell, He Says He Won’t
In a regulatory filing with the Securities and Exchange Commission (SEC), Penn Entertainment (NASDAQ: PENN) registered just over 1.25 million shares that Barstool Sports founder David Portnoy can sell in the future. The filing arrived three days after Penn announced it sold...
WynnBet Latest Sports Wagering Quasi-Casualty, Will Depart Eight States
It’s not a death in the traditional sense, but Wynn Resorts (NASDAQ: WYNN) is dramatically reducing the scope of its WynnBet sports wagering unit, announcing the business will halt operations as soon as possible in eight states in which it currently books...
Underdog Fantasy Says DraftKings, FanDuel Fear Competition
Underdog Sports, a provider of paid fantasy sports contests, claims DraftKings (NASDAQ: DKNG) and FanDuel are waging “back room” campaigns aimed at maintaining their duopoly and stifling innovation in the daily fantasy sports (DFS) arena. In their early days, DraftKings and FanDuel...
Hard Rock Lake Tahoe Could Become Golden Nugget in September
On Wednesday, the Nevada Gaming Control Board (NGCB) approved the previously announced sale of the Hard Rock Hotel & Casino Lake Tahoe by Paragon Gaming to Tilman Fertitta’s Fertitta Entertainment Inc. Clearing that regulatory hurdle paves the way for the transaction, announced...
Penn Reportedly ESPN’s Third Choice, Analysts Not Enthusiastic on Partnership
On Tuesday, Penn Entertainment (NASDAQ: PENN) shook the sports wagering space, unveiling a 10-year, $1.5 billion partnership with Walt Disney’s (NYSE: DIS) ESPN to use ESPN Bet branding on its online and brick-and-mortar sportsbooks. Penn also announced it sold Barstool Sports back...
Fox Optimistic on Reviving FOX Bet, Has Held Talks with Gaming Companies
Just days after the plug was pulled on FOX Bet, Fox Corp. (NASDAQ: FOXA) CEO Lachlan Murdoch sounded an optimistic tone regarding the company’s future sports wagering prospects, noting the media giant has already had some discussions with unidentified gaming operators. On...
FanDuel Profitable in First Half, Flutter Still Eyeing US Stock Listing
Flutter Entertainment (OTC: PDYPY), the world’s largest online gaming company, reported first-half results Wednesday, noting that its FanDuel unit was profitable in the January through June period. The largest sportsbook operator in the US generated adjusted earnings before interest, taxes, depreciation, and...
Penn/ESPN Could Boost Caesars, DraftKings Margins, Says Analyst
It’s hard to tell given the declines experienced by the stocks on Wednesday, but Caesars Entertainment (NASDAQ: CZR) and DraftKings (NASDAQ: DKNG) could benefit from Penn Entertainment’s (NASDAQ: PENN) newly announced sports wagering pact with ESPN. That’s the take of B. Riley...
David Portnoy: Regulators Denied Penn Licenses Because of Me, Won’t Sell Barstool Again
The concept of media and sports wagering partnerships entered a new phase Tuesday, when ESPN and Penn Entertainment (NASDAQ: PENN) announced an agreement under which the casino operator will pay a hefty sum to use the ESPN Bet brand. Barstool Sports was...
Penn Entertainment Sheds Barstool, Unveils $1.5B ESPN Deal
In news that rocked the US sports wagering landscape, Penn Entertainment (NASDAQ: PENN) announced it will divest Barstool Sports and sign a $1.5 billion deal with Walt Disney’s (NYSE: DIS) ESPN to use the ESPN Bet trademark. Under the terms of the...
