4481 stories by Todd Shriber
DraftKings Stock Spikes Following ESPN Partnership Rumor
DraftKings (NASDAQ:DKNG) is one of Thursday’s after-hours winners, trading higher by almost 11% on speculation the sportsbook operator is nearing an exclusive arrangement with ESPN. Bloomberg broke the story earlier this afternoon, citing unidentified sources familiar with the matter. This very likely...
Big Three Loom Large in iGaming
The internet casino space is still in its infancy. But as is the case with many older industries, the cream is already rising to the top in terms of market share. Four iGaming operators -- BetMGM, DraftKings, FanDuel, and BetRivers -- command...
Tekkorp Digital Latest Gaming SPAC to Call it Quits
Tekkorp Digital Acquisition (NASDAQ: TEKK) has scrapped plans to seek an extension to its business combination timeline. It becomes the latest gaming-focused special purpose acquisition company (SPAC) to fall victim to a blank-check thaw in the industry. Earlier this week, the Las...
Tilman Fertitta Unveils Plans for New Las Vegas Strip Casino Resort
Tilman Fertitta has revealed plans for a new casino hotel on the Las Vegas Strip -- the billionaire’s first on the most prime stretch of US gaming real estate. In a filing with the Clark County Commission, Fertitta Entertainment indicates the venue...
Caesars Trims Interest Expenses with $3B in Fresh Credit Facilities
Caesars Entertainment (NASDAQ: CZR) is making moves to reduce one of the gaming industry’s largest debt burdens, announcing today it procured $3 billion in new senior secured credit facilities maturing in 2028. Those fresh financing avenues consist of a $750 million senior...
Bally’s Traffic Study for Temp Casino Skewered by Chicago Alderman
Chicago Alderman Brendan Reilly is blasting a traffic study paid for by Bally’s Corp., claiming the survey doesn’t account for rising crime in the neighborhood where a temporary casino would be staged. The Ballys examination paves the way for the gaming company...
MGM Unlikely to Bid Anew for Entain as Economy Crimps Financing
The deteriorating global macroeconomic environment is crimping financing avenues, indicating a pause in large-scale mergers and acquisitions could be a result. Some analysts believe that’s relevant to suitors considering gaming industry targets, including MGM Resorts International (NYSE: MGM), potentially revisiting a takeover...
Regional Casino Q3 Earnings Could Impress, Analyst Has Penn Concerns
Third-quarter earnings season starts in earnest next week, and downtrodden shares of regional casino operators could give investors something to talk about. Gross gaming revenue (GGR) trends in the group remain sturdy. That, despite expectations to the contrary, prompted analysts earlier this...
Bill Foley Shuttering Two SPACs, Including One Involved in Scrapped WynnBET Merger
Las Vegas Golden Knights owner Bill Foley is closing two special purpose acquisition companies (SPACs), one of which was involved in a now-defunct gaming industry reverse merger. In the latest sign of a significant cooling down period in the blank-check space, Foley...
SPAC 26 Capital Delays Okada Manila Merger by a Year
Amid an ongoing ownership rift between founder Kazuo Okada and Universal Entertainment, Okada Manila and Jason Ader’s special purpose acquisition company (SPAC) 26 Capital Acquisition Corp. (NASDAQ: ADER) is delaying previously announced merger plans by a year. The news emerged just over...
