4480 stories by Todd Shriber
DraftKings Endures Spate of Bearish Price Target Revisions
Monday was the first trading day following DraftKings’ (NASDAQ:DKNG) issuance of disappointing 2023 guidance. Sell-side analysts took the opportunity to slash price targets on the sportsbook operator. The week started with at least seven analyst paring price objectives on shares of the...
‘Mattress Mack’s’ $75M Astros Haul Seen Imperiling Q4 Sportsbook Profitability
Jim “Mattress Mack” McIngvale won a cool $75.7 million when the Houston Astros clinched the World Series last Saturday. That haul could ensure some sportsbook operators won’t be profitable in the fourth quarter. The Gallery Furniture founder was the largest single-event liability...
Pala Casino to Sponsor California NASCAR Race, Driver Buescher
Pala Casino Spa Resort -- a Southern California tribal gaming venue -- will serve as the title sponsor for the 2023 NASCAR Cup Series race at Auto Club Speedway in Fontana, Calif. That race will be held next February and will be...
Microsoft Acquisition of Activision on Brink Amid Regulatory Scrutiny
Microsoft’s (NASDAQ:MSFT) planned $68.7 billion acquisition of video game publisher Activision Blizzard (NASDAQ:ATVI), which was announced in January, could be on the brink of collapse from intensifying antitrust scrutiny. Unidentified sources close to the matter told the New York Post insiders at...
ARK Invest Loads Up On DraftKings as Stock Suffers Worst One-Day Loss Ever
Cathie Wood’s ARK Investment Management has added to its previously established stake in DraftKings (NASDAQ:DKNG) in significant fashion, as the stock was suffering its worst intraday loss on record last Friday. Shares of the sportsbook operator plunged 27.82% on volume that was...
Fox Scores Victory in FanDuel Litigation, Wins Right to Buy 18.6 Percent Stake for $3.72B
A ruling revealed earlier today by New York’s Judicial Arbitration and Mediation Services (JAMS) in Fox Corp.’s (NASDAQ:FOXA) favor paves the way for the media company to acquire 18.6% of FanDuel. The decision, which ends long-running litigation brought by Fox against FanDuel...
Golden Entertainment Seen as Defensive Play Among Casino Stocks
It’s been a volatile year for casino stocks, confirming the utility of equities with defensive traits. Some analysts believe Golden Entertainment (NASDAQ: GDEN) fits that bill. On Thursday, the Strat operator said it earned 45 cents a share on sales of $279...
Tropicana Las Vegas Still in Running to Be A’s Stadium Site
Tropicana Las Vegas is still in contention to possibly be the site of a Major League Baseball (MLB) stadium, according to Bally’s (NYSE: BALY) executives. On the company’s third-quarter earnings conference call earlier this week, CEO Lee Fenton said the company could...
DraftKings Dives on Weak 2023 Forecast, Lingering Losses
DraftKings (NASDAQ: DKNG) stock tumbled in early trading Friday after the sportsbook operator issued tepid 2023 guidance, including a larger-than-expected loss. While the gaming company lifted its 2022 guidance, its 2023 earnings before interest, taxes, depreciation and amortization (EBITDA) spooked Wall Street....
VICI Properties Selling Nearly 19M Shares, Could Use Cash for Acquisitions
VICI Properties (NYSE:VICI) announced today it’s selling up to 18.97 million shares of its common equity through forward purchase agreements, meaning the real estate investment trust (REIT) won’t initially receive cash proceeds. The largest gaming REIT said it’s selling 16.5 million shares...
