5081 stories by Todd Shriber
Genius Sports Reaffirms 2024 Outlook, Stock Slides on Share Sale
Genius Sports (NYSE: GENI) reaffirmed its 2024 financial guidance on Wednesday, but the stock slumped on news the sports betting data provider is selling shares. In late trading, Genius was off 4% on volume that was double the daily average after telling...
Sands Downgraded as Analyst Sees Good News Priced In
Las Vegas Sands (NYSE: LVS) slipped Tuesday after the stock was downgraded on the basis that much of the positive news out of Macau is priced into the shares. The gaming stock fell 3.99% on volume that was about 50% above the...
HG Vora Readies Proxy Fight Against Penn Entertainment
Shares of Penn Entertainment (NASDAQ: PENN) rallied in late trading Tuesday following a regulatory filing by activist investor HG Vora indicating the hedge fund could be readying a proxy fight against the regional casino operator. In December 2023, it was revealed that...
Macau Investor Scooping Up Shares of Star Entertainment
Macau businessman Wang Xing Chun has been gobbling up shares of Star Entertainment, even as the Australian casino operator is pushed to the brink of insolvency. After recently acquiring AU$1.7 million worth of Star shares, Wang’s stake in the company reached 5.5%,...
IGT Stock Could Gain Clarity from Italian Lottery RFP
Shares of International Game Technology (NYSE: IGT) have shed a third of their value over the past year, but the sagging stock could benefit from some clarity from the Italian lottery, one of the company’s marquee clients. Last Friday, Italy’s gaming regulator...
CFTC Expected to Scrutinize Crypto.com Sports Contracts
The Commodities and Futures Trading Commission (CFTC) is said to be considering an examination of Crypto.com’s recently unveiled sports event contracts, but that’s unlikely to interfere with the brokerage firm’s plans to offer derivatives on the Super Bowl. Sources close to the...
Wynn Praised for Strategy of Crown London Buy
Last week, Wynn Resorts (NASDAQ: WYNN) announced the acquisition of the Crown London, a small, private casino in the Mayfair District, and while it’s not the typical property-level purchase executed by a US gaming value, the deal has merit. In a recent...
iGaming Legalization Won’t Resemble Sports Betting, Says Expert
A new year is here and with it comes optimism that more states will approve iGaming, but one industry expert believes the cadence of such approvals will not resemble what was seen with online sports betting. In a recent conversation with Deutsche...
Eli, Peyton Manning to Star in FanDuel ‘Kick of Destiny’ Commercials
Eli and Peyton Manning will be the stars of the third iteration of FanDuel’s “Kick of Destiny” advertising campaign, which allows the sportsbook’s clients to win an equal share of $10 million if they select the right Manning. The humor in the...
Star Entertainment Staring Down Liquidity Crisis
Shares of Star Entertainment Group tumbled to another all-time low on Thursday as the Australian casino operator faces a liquidity crunch and crisis of confidence among its lenders. In a report out Thursday, Morningstar analyst Angus Hewitt noted that Star has $AU79...
