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Business
September 12, 2024
Fox Reportedly Aims for FanDuel Stake at $2.2bn Below Value
Several years ago, in 2020, the leading gaming and entertainment company, Flutter Entertainment, purchased The Stars Group. This created a connection between the former and Fox Corporation, one of the world’s leading and most valued mass media companies in America. Through this legal connection, Fox secured an option to purchase a stake in FanDuel, Flutter’s […]
Business
September 12, 2024
Sega Sammy’s Acquisition of GAN Limited Approved by Nevada Regulator
The Nevada Gaming Control Board has given its first nod to Sega Sammy Creation’s buyout of GAN Limited, a big name in North American B2B online gaming. Sega Sammy’s $107.6 Million GAN Purchase to Go Before Nevada Gaming Commission The deal, which came to light in December 2023, will now go to the Nevada Gaming […]
Business
September 11, 2024
DraftKings Eyes Other Solutions to Deal with Taxes after Surcharge Failed
DraftKings recently gave up on its plans for a surcharge fee after it received а strong backlash from its customer base. Fans were not on board with the changes, which caused an immediate blow to the operator’s stock. The company might have given up on the surcharge but it is still looking for ways to […]
Business
September 11, 2024
Endeavor Putting OpenBet and IMG Arena for Sale
Endeavor, a talent and media holding form, has confirmed that it will be divesting OpenBet and IMG Arena, and is attempting to sell the assets. This process began during the second quarter and the search for a buyer is ongoing. Oakvale Capital, a top iGaming M&A firm, is facilitating the search for potential buyers. As […]
Business
September 11, 2024
Wynn Issues $800M Debt to Redeem Bonds, Pay DOJ Settlement
Last week, the leading gaming and hospitality operator, Wynn Resorts, announced that it has reached a settlement with the US Department of Justice (DOJ). Under the settlement, the company’s subsidiary, Wynn Las Vegas, agreed to forfeit a record $130 million to settle alleged financial offenses. Now, Wynn announced the pricing of $800 million in senior […]
Business
September 10, 2024
Palms Casino Resort Appoints Stephen Thayer as General Manager
Palms Casino Resort, one of Las Vegas’s biggest off-Strip properties and the first fully tribal property in the city, has announced the appointment of a seasoned casino and hospitality executive as its new general manager. The one up to the task is none other than Stephen Thayer, the Strat’s former general manager. Thayer Has Vast […]
Business
September 10, 2024
Las Vegas Sands Increases Stake in Sands China
Las Vegas Sands (LVS) aims to consolidate its majority ownership in its Macau affiliate, Sands China, with a new capital injection of up to HK$800 million ($102.6 million). This tactical move by the gaming powerhouse will extend its majority ownership to nearly 72%, thus tightening control over Sands China’s activities in a pivotal time for […]
Business
September 10, 2024
GiG Names HR Veteran Kevin Norville as Chief People Officer
Gaming Innovation Group (GiG) has tapped online casino veteran Kevin Norville as its new chief people officer. He will bring important experience to the team and will be tasked with overseeing the company’s overall human resources strategy. GiG Adds HR Powerhouse to C-Suite As mentioned, Norville is no stranger to the online gaming industry. His […]
Business
September 10, 2024
Penn CEO Snowden Purchases $850K Worth of Company Stock
Penn Entertainment CEO Jay Snowden remains confident in the company’s stock, despite its recent decline. To highlight his trust in the company, the executive expanded its stake in the operator, purchasing 54,200 more shares for approximately $1 million. Snowden Now Owns Almost a Million Shares The purchase was outlined in a recent Securities and Exchange […]
Business
September 9, 2024
Betsson May Fuel Strategic Realignment with Three €100M Bonds
Stockholm-listed operator Betsson AB announced it is considering issuing new EUR-denominated senior unsecured bonds with a three-year tenor. The potential issue, valued at EUR 100 million ($110.46 million) under a framework of EUR 250 million ($276.15 million), comes as part of the company’s broader financial strategy to refinance outstanding bonds and support general corporate purposes […]
