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Business
September 30, 2024
Star Completes Treasury Brisbane Casino Sale, Shares Rise 18%
At the end of last week, we reported that Star Entertainment was forced to return to the negotiation table alongside creditors to deal with its reported AU$1.69 billion ($1.08 billion) annual loss and the overall shaky ground projected for the new financial year. Now, the group that recently sold its leasehold interest in the historic […]
Industry
September 30, 2024
US Tax Foundation Discusses the Disparity in State Betting Taxes
The Tax Foundation has published a report on the various states’ approach to how sports betting should be taxed. The foundation highlighted noticeable disparities between states with high taxes and ones in low taxes. The Tax Rates Vary from State to State The report pointed out that New York, New Hampshire and Rhode Island have […]
Industry
September 26, 2024
Flutter Entertainment Forecasts Stellar Growth in Brazil
Flutter Entertainment, the world’s largest sports betting and iGaming company, addressed investors today with ambitious growth forecasts while announcing a $5 billion share buyback scheme. The buyback, scheduled to start after Q3 in November and which is expected to extend over the next three to four years, reflects the company’s confidence in its projected financial […]
Business
September 26, 2024
Star Entertainment’s Financial Struggles Continued in FY 2024
The Star Entertainment Group published its financials for the fiscal year, reporting a continued decline amid business and regulatory headwinds. However, the company management remains focused on demonstrating its compliance and generating shareholder value. The Star’s Financials Were Suboptimal Star Entertainment reported FY 2024 revenue of almost AUD 1.7 billion ($1.17 billion). This figure represented […]
Business
September 26, 2024
Analyst Stays Positive on L&W Despite Dragon Link Litigation
Earlier this week, the leading global provider of gaming solutions and equipment, Aristocrat Technologies, seized the initiative in its legal battle against Light & Wonder (L&W). This, however, wasn’t a major hit for the latter, based on its estimates with the exception being a dip in its shares. Macquarie Analyst Keeps Outperform Rating Still, despite […]
Business
September 25, 2024
Flutter Sees Double Profit by 2027, Presents $5bn Share Buyback
The leading global betting and gaming company, Flutter Entertainment, is fairly optimistic about the future. Namely, the upcoming two years which the online betting company believes will bring it around $5 billion, which is more than double this year’s core profit expected to reach $2.5 billion. The bold projections were made on Wednesday when Flutter […]
Business
September 25, 2024
Polymarket Seeks $50M in Funding, Plans to Launch In-House Crypto Token
Crypto betting specialist Polymarket is reportedly seeking additional funding ahead of the US presidential election. The report further suggests that the company is considering launching its own crypto token. Polymarket Seeks to Enhance Its Business Ahead of the Election According to The Information, a technology news outlet, Polymarket hopes to acquire some $50 million in […]
Industry
September 20, 2024
Brazilian Banks Are Wary of the Rapid Rise of Betting
Brazil sports fans continue to bet hard as the country prepares to launch regulated betting in January. While this trend has attracted a lot of interest from international operators wishing to invest in Brazil, experts are concerned that it would divert funds from spending in other areas. People Are Spending More on Gambling Than Before […]
Business
September 19, 2024
MGM Resorts Financially Equipped for Big Projects, Analysts Suggest
Earlier this month, the leading hospitality, gaming and entertainment company, MGM Resorts, announced it raised debt sale from $675 million to $850 million. The announcement signaled the company’s intentions to raise more money through debt than it initially anticipated. That strategic move isn’t bad by any means, especially considering MGM Resorts’ solid performance and growth […]
Business
September 19, 2024
Playtika to Acquire Developer of Dice Dreams and Domino Dreams SuperPlay
Mobile games pioneer and interactive entertainment leader Playtika Holding Corp. announced it entered into a definitive agreement to acquire SuperPlay in a deal that may surpass $1 billion. On Wednesday, Playtika uncovered details regarding the acquisition of the leading creator of hit mobile games. Acquisition Expected to Close In Q4 2024 The company revealed that […]
