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Business
January 6, 2025
Deutsche Bank Analyst Shares Favorable Projections for Caesars Digital
Caesars Entertainment might take action to reinforce its digital gaming business followed continued suboptimal growth, a Deutsche Bank analyst believes. He also projected a property EBITDAR decline of 2% despite a variety of opportunities within the land-based sector. The Company Is Likely to Bolster Its Digital Business In an investor note, Deutsche Bank analyst Carlo […]
Business
January 3, 2025
Codere Online in Peril amid Possible Lawsuit, Delisting
Codere Online is in peril amid various threats to its business. In addition to a possible class action lawsuit, a potential Nasdaq delisting seems to be inching closer. Codere Parted Ways with Its Auditor On December 27, Codere Online parted ways with its auditor Marcum. The latter was unable to complete the audit procedures Codere […]
Business
January 2, 2025
DraftKings Shares Underperform amid Insider Selling
DraftKings Inc. had a tough December, with its shares falling 10.62% over the last month. This underperformance contrasts the broader market, with the Consumer Discretionary sector down just 0.11% and the S&P 500 Index up 0.4%. Retail investors are also unhappy due to 2024’s significant insider stock selling, which did not help DraftKinds’ shares. DraftKings […]
Business
December 30, 2024
Congressman Bid on Wynn Before Fertitta’s Stake Was Announced
Texas Rep. Dan Crenshaw had invested in gambling giant Wynn Resorts before Tilman Fertitta’s initial stake became public. As reported by casino.org, Crenshaw made his purchases several days after Fertitta’s stake and several days before the latter was made public. Crenshaw Bought Shares Shortly After Fertitta According to the report, Crenshaw spent between $1,001 and […]
Business
November 15, 2024
Tilman Fertitta Bolsters His Influence Within Wynn Resorts
Billionaire entrepreneur Tilman Fertitta, known for his ventures in hospitality and gaming, has increased his ownership stake in Wynn Resorts to 9.9%, according to a filing with the US Securities and Exchange Commission (SEC). The filing currently designates Fertitta’s position as “passive,” but industry insiders have reportedly hinted that the Houston billionaire may soon push […]
Industry
November 15, 2024
Everi Shareholders Give the Thumbs Up to Apollo Merger
Everi Holdings, a premier provider of content, products, fintech, player retention and bingo to the land-based and digital casino industries, announced that its shareholders have approved the company’s takeover by Apollo Global Management. Shareholders Favored the Deal At a special meeting of Everi stakeholders, investors voted in favor of the pending simultaneous acquisition of Everi […]
Business
November 13, 2024
Flutter Publishes Q3 Results, Prepares for Share Buyback
Gambling and betting giant Flutter Entertainment has published its Q3 report, highlighting significant increases across multiple metrics. As a result, the company updated its guidance, introducing a small raise, and announced the launch of the first tranche of its new share buyback program. Flutter Continued to Excel In the three months ended September 30, Flutter […]
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 […]
Sports
September 6, 2024
Casino Mogul Ira Lubert Donates $10M to Beaver Stadium Renovation
Ira Lubert, a prominent Penn State alumnus, trustee, and successful casino owner, has donated $10 million toward ongoing renovations at Beaver Stadium, Penn State’s iconic football field. The university announced the generous gift that will give Lubert and his family naming rights, honoring them through the planned Lubert Family Welcome Center. A Centerpiece Project Will […]
Business
August 28, 2024
Co-Founders Liberman and Robins Sell Over $10M of DraftKings Shares
DraftKings co-founders Paul Liberman and Jason Robins have collectively sold over $10 million worth of the company’s shares in the last few days. Liberman and Robins Sold Thousands of Shares Liberman, who serves as DraftKings’ president of global tech and product, sold 78,466 shares on Monday for approximately $3.15 million. The shares were sold in […]
