Month: April 2024
FanDuel Acquisition Could Be Needed for Nevada Entry
Despite increased competition from other states, Nevada remains one of the US meccas of sports wagering, but two of the industry’s largest operators — DraftKings (NASDAQ: DKNG) and FanDuel — still don’t offer their services in the state. The FanDuel Sportsbook logo. It could take an acquisition for the company to enter Nevada. (Image: FanDuel…
Read More
Richmond Legally Barred From Conducting Third Casino Referendum
The Richmond City Council and its mayor, Levar Stoney, desperately sought to become home to a commercial casino. Voters in the Virginia capital city, however, twice voted against the local government’s proposed casino project. Now, the city is legally prohibited from putting forward another ballot question about a casino. Richmond voters rejected two casino resort…
Read More
Casino Shooting Suspects Caught After High-Speed Chase
Three fleeing suspects wanted for the shooting of two victims at Washington State’s Little Creek Casino were nabbed by cops on Wednesday afternoon. Washington State’s Little Creek Casino, pictured above. Two victims were shot at the casino’s garage. (Image: TripAdvisor) After shots were fired in the Shelton, Wash. gaming property’s parking garage just before 3…
Read More
DraftKings, MGM, Hard Rock Mull Entering Brazil’s Online Betting Market
Last year, Brazil established regulatory guidelines for its online wagering market — a move that’s expected to lure some of the industry’s biggest players to Latin America’s largest economies. The Brazilian flag flying against a backdrop of the sun. DraftKings and MGM are among the US companies that could pursue online wagering licenses there. (Image:…
Read More
Louisiana Becomes the Latest State to Ban College Player Prop Bets
Louisiana has joined more than 30 other states where sports betting is allowed in banning player props involving college student-athletes. Tight end Nick Storz celebrates during an LSU Tigers football game. Sports bettors in Louisiana will soon be barred from legally betting on a college player’s individual performance after the state agreed to the NCAA’s…
Read More
UFC Parent Endeavor Going Private in $13B Deal with Silver Lake
Endeavor Group Holdings, Inc. (NYSE: EDR) is being taken private by venture capital firm Silver Lake in a transaction valuing the target at $27.50 a share, or an equity value of $13 billion. Endeavor CEO Ari Emanuel. The company is going private in a deal with Silver Lake. (Image: Getty) Silver Lake, which owns 71%…
Read More
Bally’s Investor Urges Against Takeover Bid, Suggests Alternatives for Chicago Casino
K&F Growth Capital, which is one of the largest Bally’s (NYSE: BALY) shareholders, sent a letter to the company’s board of directors on Tuesday urging it to reject a recently proposed takeover bid and to mull alternatives for large-scale projects, including a Chicago casino hotel. Bally’s on the Atlantic City Boardwalk. An investor is urging…
Read More
Illinois Lawmaker Wants to Legalize Video Gaming Machines in Chicago
Legislation introduced to the Illinois House of Representatives by state Rep. Kam Buckner (D-Chicago) would allow small businesses in Chicago to seek a video gaming terminal (VGT) license regardless of whether they currently offer illegal sweepstakes machines. Video gaming terminals are seen inside an Illinois bar. A state lawmaker wants to lift Chicago’s ban on…
Read MoreBally’s Hit with Another Credit Rating Downgrade
Bally’s (NYSE: BALY) accomplished a dubious trifecta as its credit rating has been lowered by a third major ratings agency. Bally’s on the Atlantic City Boardwalk. The operator saw its credit rating downgraded by a third ratings agency on Monday. (Image: Bloomberg) On Monday, Fitch Ratings downgraded the regional casino operator’s credit grade to “B”…
Read More