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Business News and Headlines
Business
November 10, 2020
CVC Capital, Apax Partners Bid for William Hill non-US Assets
Two entities are reportedly preparing a bid for William Hill’s non-US assets with CVC Capital Partners and Apax Partners putting a £1.5 billion each on the table, The Sunday Telegraph reported. CVC Capital and Apax Partners Potentially Bidding for William Hill In a mad scramble to the top, CVC Capital Partners and private equity firm […]

Business
November 10, 2020
NV Casinos’ Stock Rallies on News of Pfizer Covid Vaccine Breakthrough
A new preliminary data by Pfizer Inc. has revealed a new vaccine that shows 90% success in protecting against COVID-19, sending Nevada casino operators’ stock up. News of Vaccine Send Casino Stock up in Nevada Just like any other asset, casino operators’ stocks have been prone to jump on good news and slump at the […]

Business
November 9, 2020
MGM Springfield Makes Good on $2.3 Million Debt to City Despite Pandemic Impact
MGM Springfield has repaid an outstanding debt of close to $2.3 million to the City of Springfield, Massachusetts, despite having suffered significant losses due to the coronavirus pandemic, the Springfield Republican reports. The complex had owed the sum since April when it paid about $5.5 million, an initial payment from a total of $7,780,376.32 agreed […]

Business
November 8, 2020
Betting Polls Lack Liquidity, Prone to Wild Swings
Election night was an example of how illiquid markets can cause wild swings to the price movement, a Bloomberg analysis of the events on the night and afterwards reports. And it all started with bettors who did not know what they were doing. Wild Swing on Betting Markets Misled by the early counts in several […]

Business
November 7, 2020
Wynn Resorts Absorbes BetBull into $80M Wynn Interactive
Wynn Resorts and UK social sports betting operator BetBull expanded on their partnership by creating an $80 million joint venture company, as the casino operator is looking to diversify its portfolio of online gaming. As part of the deal, Wynn has also acquired the BetBull business for an undisclosed price. Wynn Acquires BetBull Wynn Resorts […]

Business
November 7, 2020
DraftKings Denied Verbal Authorization for Proxy Betting
Boston-based daily fantasy sports (DFS) and sports betting operator DraftKings responded to reports related to a recent case of proxy betting. A spokesperson for the operator denied claims DraftKings director of sports book Johnny Avello had some kind of a verbal agreement with the Florida resident to engage in proxy betting. $3 Million Parlay Bets […]

Business
November 6, 2020
Influencers to Help Casinos Recover from COVID-19 Pandemic
Influencer marketing is a present-day form of marketing and advertising which oftentimes involves testimonial advertising by organizations or individuals via social media channels. For the last 10 years, the popularity of this activity has increased hundreds of times and currently, the people conducting it are known as influencers. While some people might call this activity […]

Business
November 6, 2020
Wynn Resorts Reports $758.1 Million Loss in Q3, Focuses On iGaming Venture
On November 5, Wynn Resorts reported a net loss of $758.1 million in Q3, a 53.3% decline year-on-year. Despite huge falls in revenue at its two Macau resorts, positive trends have been emerging on the local market. Positive Trends Emerge in Macau High-end hotel and casino developer Wynn Resorts reported yesterday a $758.1 million loss […]

Business
November 6, 2020
Kindred’s Diversified Model Helped Shrug off Disruptions
Nasdaq Stockholm-traded gaming operator Kindred Group released an interim report today, informing investors about its third quarter and January-September financial performances, outlining it managed to shrug off the ongoing disruption in the industry for the third quarter due to its diversified model. Gross Winning Revenues Rise Kindred Group issued a trading update in October, ahead […]

Business
November 6, 2020
Century Casinos Posts Higher Q3, 2020 Results despite Pandemic
In the latest earnings call, Century Casinos has reported a strong recovery in the third quarter of 2020. Despite the record-high results, overall results are down year-over-year, and recovery may continue well into 2021. Third-Quarter Results Beat Year-over-Year Benchmarks Century Casinos, Inc. has revealed its financial results covering the third quarter, and the entire nine […]
