Blockchain
October 18, 2024
Buying Crypto and Meme Stocks Is Akin to Gambling, Says Strategist
Buying cryptocurrencies and meme stocks like Trump Media is akin to gambling, believes Fiduciary Trust International’s managing director, Doug Cohen. In an interview with Quartz for the “Smart Investing” video series, Cohen discussed why these types of assets are too speculative to be considered sound investments. Cohen explained that the behavior seen around meme stocks […]
Business
October 18, 2024
FDJ Posts YTD Results as Moody’s Reiterates Good ESG Rating
La Française des Jeux (FDJ) has published its official report for the first nine months of the year, reporting strong results in the wake of the merger with Kindred Group. The company’s recent acquisition cemented it as a “European champion” with a diversified and balanced profile. FDJ reported year-to-date revenue of EUR 2.01 billion ($2.18 […]
Business
October 18, 2024
Analyst Hints at Potential Golden Entertainment Casino Sale-Leaseback
On Wednesday, the American gaming company that operates gaming properties, slot routes and taverns, Golden Entertainment, confirmed that its third quarter 2024 financial results are going to be released after market close on November 7, 2024. Ahead of the release of the financial figures, analysts shared their forecast, discussed potential challenges and opportunities the company […]
Business
October 17, 2024
Kindred Publishes Financial Update as Part of FDJ’s Takeover
Online gaming operator Kindred Group, has published a new financial update as part of its tender offer by the French national lottery operator La Française des Jeux (FDJ). Kindred is set to publish its full report on October 25. The Results Are in Line with Earlier Projections Kindred noted that the publication of its unaudited […]
Business
October 17, 2024
Entain Posts Favorable Q3 Figures, Decides Against Crystalbet Sale
Gambling giant Entain has posted a trading update for the third quarter of the year, highlighting results that were ahead of the forecasts. At the same time, Entain decided to retain the Crystalbet brand. The Q3 Results Were Unexpectedly Strong In its official report, Entain highlighted an 8% increase in its total group net gaming […]
Business
October 17, 2024
J.P. Morgan Analyst Lowers MGM Resorts Projections for 2025
J.P. Morgan, an American multinational finance company, has lowered its projections for MGM Resorts International. In an investor note published on October 15, analyst Joseph Greff attributed the trimmed cash-flow projections to a variety of setbacks. The Analyst Expects the Company to Lose Market Share in Macau Greff cited uneven performance for MGM Resorts, sharing […]
Business
October 16, 2024
Codere Completes Global Recapitalization, Cuts Debt by €1BN
Spanish multinational operator founded in 1980 and listed on the national stock exchange, Codere, has announced the successful completion of its global recapitalization process. As a result of the worldwide corporate restructuring aimed to change the company’s capital structure, the operator, who was the pioneering gaming company to provide regulated brick-and-mortar-based sports betting in Spain, […]
Business
October 10, 2024
Netherlands Reports Gambling Revenue Increase and 95% Channelization
The Dutch licensed gambling market is recognized for its strict rules and monitoring. While robust, the regulations are not overly restrictive, which enables the country to channel more players toward the legal sector. Land-Based Gambling Sector Boosts GGR Newly released data from the country’s gambling regulator, Kansspelautoriteit (KSA), points to the growth of the gambling […]
Business
October 8, 2024
PENN Entertainment Unveils Preliminary Q3 Financial Results
Today, PENN Entertainment revealed its preliminary financial results for the third quarter ending 30 September 2024, highlighting stronger-than-expected results for its interactive unit, Penn Interactive, which includes the ESPN Bet platform. The company noted the digital segment was performing better than projected, expressing a stable outlook for its retail operations going into 2025. Overall Financials […]
Business
October 8, 2024
Rhode Island Market Is Shrinking Under Neighboring States’ Pressure
According to a report from the Rhode Island Office of the Auditor General, the Rhode Island Lottery transferred $426.4 million to the state’s General Fund for the fiscal year ending June 30, 2024. This represents a drop of 1.8% or $8.2 million, compared to the previous fiscal year. The report attributed Rhode Island’s decline to […]
