5081 stories by Todd Shriber
BetMGM Takes the Lead at MGM Sportsbooks
BetMGM is officially taking over as the operator of MGM Resorts International’s racebook and sportsbook operations at its land-based casinos across the US. Essentially what’s taking place is that BetMGM will become a “key employee” of MGM’s sportsbooks and will take on...
Nevada Tops for Per-Capita Sports Betting
In the post- Professional and Amateur Sports Protection Act (PASPA) era, Nevada has ceded its crown as the king of the US sports wagering market, but it still leads in one category: per-capita sports betting. A recent study by Gamdom Casino, a...
Codere Online Stock Plunges as Auditor Resigns
Shares of Codere Online Luxembourg (NASDAQ: CDRO) tumbled Monday after the gaming company said its auditor resigned on Dec. 20, which could jeopardize the operator’s ability to retain its listing on the Nasdaq Stock Market. In late trading, shares of the online...
Casino Mergers and Acquisitions Could Surge in 2025
Supported by declining interest rates and a more favorable regulatory regime, gaming industry, including casinos, mergers and acquisitions activity could perk up in 2025. That was one of the takeaways from Truist Securities’ recent Wicked Good 12th Annual GLLR Summit in Boston....
Rep. Crenshaw Bought Wynn Stock Before Tilman Fertitta Purchase Made Public
A Texas congressman bought shares of Wynn Resorts (NASDAQ: WYNN) just days before Tilman Fertitta’s stake in the casino operator was made public in October 2022. On Oct. 25, 2022, Rep. Dan Crenshaw (R-TX) purchased between $1,001 and $15K worth of the...
Fitch Affirms SJM Holdings Credit Rating at BB-
The credit rating of Macau casino operator SJM Holdings was affirmed at “BB-“ with a “stable” outlook by Fitch Ratings. That’s three notches into junk territory. While the research firm acknowledged that SJM’s credit grade is supported by an ongoing economic recovery...
JPMorgan Disposes of Star Entertainment Stake
JPMorgan Chase & Co. (NYSE: JPM) is no longer an investor in Australian casino operator Star Entertainment. A regulatory filing with the Australian Securities Exchange (ASX) confirmed that the New York-based bank recently liquidated its stake in Star, which the gaming confirmed...
Crypto.com Dives Into Sports Event Trading
Count Crypto.com as the latest financial services firm to delve into the world of sports event trading. The cryptocurrency brokerage firm said today it launched a sports event trading product that will allow “users of Crypto.com and the Crypto.com app nationwide to...
Churchill Downs Might Come Up Roses in Virginia
The Kentucky Derby -- the marquee event on Churchill Downs’ (NASDAQ: CHDN) annual slate -- is known as “the run for the roses,” but a different rose could be additive to the operators investment thesis. The operator’s recently opened Rose casino hotel...
Flutter Entertainment Refinances Loan, Cuts Interest Expenses
Flutter Entertainment (NYSE: FLUT) said it refinanced $3.885 billion of a term loan issued to the gaming company in November 2023. The move by the parent company of FanDuel -- the largest online sportsbook operator in the US -- results in a...
