4507 stories by Todd Shriber
Caesars, DraftKings Could See Big Savings Following ESPN/Penn Deal
Penn Entertainment’s (NASDAQ: PENN) 10-year, $1.5 billion sports betting partnership with ESPN could provide two rivals with near-term cost savings. The Penn/ESPN pact, which was announced last week, means the sports network will terminate similar deals with Caesars Entertainment (NASDAQ:CZR) and DraftKings...
San Francisco Should Embrace Downtown Casino Says Former Real Estate Executive
Wracked with problems, including rampant homelessness, departing retailers, and public narcotics abuse, downtown San Francisco could be revived with a casino. That’s the take of Stanford Horn, formerly a high-ranking commercial real estate executive with Coldwell Bank Commercial Real Estate Services and...
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...
