5081 stories by Todd Shriber
Penn Entertainment Has ‘Unrecognized Value,’ Says Analyst
Shares of Penn Entertainment (NASDAQ: PENN) are on a wild ride as highlighted by a 26% year-to-date drop and a 20.7% surge over the past 90 days -- the latter indicating the potential is there for a durable resurgence. Some analysts remain...
Some Bettors Sell Stocks to Fund Sports Wagering Habit, Says Study
It’s often quipped that “the stock market is a casino,” but some bettors are taking that faulty phrase to heart and selling investments to fund sports wagering habits. That's according to the recently published working paper, "Gambling Away Stability: Sports Betting’s Impact...
Long Island Lawyer Pushes Hochul to Expedite NYC Casino Process
A Long Island attorney that supports Las Vegas Sands’ efforts to build a $6 billion integrated resort at the site of Nassau Coliseum encouraged Gov. Kathy Hochul (D-NY) to approve legislation that would accelerate the bidding process for three downstate casino licenses...
MGM Partnering with Grupo Globo for Brazil Sports Betting Permit
MGM Resorts International said today it is partnering with Latin American media conglomerate Grupo Globo to pursue a sports wagering and iGaming license in Brazil. Should MGM win the permit, which could happen before the end of this year, it would debut...
Icahn Reveals Caesars Stake Is 2.44 Million Shares
Shares of Caesars Entertainment (NASDAQ: CZR) rallied Thursday after Carl Icahn’s Icahn Enterprises (NASDAQ: IEP) revealed its recently initiated stake in the casino operator is 2.44 million shares. To be precise, Icahn owns 2,440,109 shares of the gaming stock, according to a...
DraftKings Surcharge Gambit Was ‘Head Fake,’ Says Analyst
Shares of DraftKings (NASDAQ: DKNG) closed higher by almost 2% Wednesday on volume that was more than double the daily average after the company reversed course on a previously announced plan to tax winning sports bets in four high-tax states. In a...
Flutter Mulls Acquisition of Playtech’s Snaitech Unit
Flutter Entertainment (NYSE: FLUT) is reportedly in talks to acquire Playtech’s (LSE: PTEC) Snaitech business, news that sent shares of the target’s parent soaring in London trading. Media reports indicated FanDuel could pay as much as $2.56 billion for Snaitech, which represents...
FanDuel Deals Blow to DraftKings, Says No to Surcharge
***UPDATE: Soon after Flutter said it will not proceed with a surcharge, DraftKings announced it is reversing course and will not tax winning sports bets in Illinois, New York, Pennsylvania, and Vermont. DraftKings said the move was made in response to listening...
Intralot Could Face Washington, DC Investigation
Intralot, the Greek gaming company that previously ran the mobile sports betting application in Washington, DC, could face an investigation in the city regarding its management of the app. DC Attorney General Brian Schwalb has requested documents from Intralot pertaining to its...
Times Square Casino Plan Wins Support of 17 Labor Unions
A plan to bring a casino hotel to Times Square has the support of 17 New York-area labor unions. In a letter to Manhattan Borough President Mark Levine, State Assemblymember Tony Simone, and City Councilmember Erik Bottcher, whose areas of representation include...
