As analysts salivate at the prospect of legalized sports betting in Kansas, officials say the wagers may not begin until after football season kicks off. Kansas Racing and Gaming Commission Director Todd Allen recently said that the commission hasn’t set a “go-live date†yet. He noted that “a lot of […]
Denny Hamlin scored the checkered flag at Pocono Raceway on Sunday, only to get DQ’d after the post-race inspection. But the NASCAR Cup Series win didn’t go to second-place finisher Kyle Busch, because he also failed inspection. And that created a lot of confusion — and in some cases — […]
Over the past month, two big sports betting deals have gone bust. DraftKings dropped its $22 billion offer for Entain while, meanwhile, Wynn Resorts called off the merger of WynnBet with Austerlitz Acquisition. And in the blink of an eye, the red-hot sports betting market has started to cool. Once […]
It was another busy week in gambling mergers. MGM Resorts will pay $1.63 billion to operate The Cosmopolitan. Meanwhile, Endeavor will buy sports betting platform OpenBet from Scientific Games for $1.2 billion. While most of the mergers in the gambling industry involve sports betting, there are still a handful of […]
DraftKings offered to acquire the UK-based sports betting and gambling company Entain. Entain has a 50% stake in BetMGM and operates the Ladbrokes, PartyPoker, bwin, Sportingbet and Coral brands. CNBC’s sources report the offer is for $20 billion in DraftKings’ stock and cash. Investors quickly reacted to the news. Entain’s […]
According to BetMGM, the Detroit Lions are everyone’s favorite long shot to make the NFL playoffs. Although the Lions are roughly +750 to make the playoffs, the sportsbook has received more bets on Detroit than on any other team. A number of studies have shown that people root for underdogs, […]
A bold sports bettor fired away with a $10,000 wager on the Washington Wizards to win the 2021 NBA Championship at 500/1 odds (or +50000), which would pay out $5 million. BetMGM reported that they accepted the moon-shot wager on the Wizards. There’s no word yet on the identity of […]
The first seven-figure bet on Super Bowl 55 is here. According to BetMGM, a bettor using their app fired away a $2.3 million bet to win $2 million on the Tampa Bay Buccaneers at +3.5 in the upcoming Super Bowl. This particular “mysterious” bettor had to lay a little extra […]
The wait is over for Michiganders as Richard Kalm, executive director of the Michigan Gaming Control Board (MGCB), said he expects the state to flip the switch for online sports betting within the next few days, and as soon as Tuesday night. Kalm noted Tuesday that final preparations in anticipation […]
After two failed attempts to acquire online gambling partner Entain, MGM Resorts International named Jonathan Halkyard as its new chief financial officer Thursday. He comes with experience handling complex mergers, instituting extreme cost-cutting measures, and dealing with private equity acquisitions, including several that preceded the biggest bankruptcy in gaming history. […]
In an about-face brought on by a projected $15 billion revenue shortfall, New York Gov. Andrew Cuomo is making swift legalization of online sports gambling in the state a centerpiece of his administration. Cuomo, formerly an opponent of online sports gambling in New York, hinted that the key to regaining […]
Bally’s Corporation this week picked up where it left off late last year as a young company attempting to grow quickly. Only this time, instead of increasing its digital and media footprint, Bally’s is going the brick-and-mortar route. Monday, Bally’s announced plans to build a mini-casino in Pennsylvania just as […]
Betting giant Entain, the Isle of Man-headquartered parent company of Ladbrokes, rejected an £8.1 billion ($11b) buyout offer from US partner MGM Resorts Monday, sparking a rally in its stock as MGM shares took a dip. Entain officials said the offer from MGM, owner of several high-end resorts and casinos […]
MGM Resorts International, the parent company of BetMGM, is looking to start the new year big as it’s reportedly on the cusp of acquiring Entain, the parent of one of the biggest and oldest sportsbooks in the world, London-based Ladbrokes. With the backing of billionaire Barry Diller’s IAC Group, Entain, […]
The Pennsylvania Gaming Control Board and Vancouver, BC-based GeoComply announced Monday that bettors in the Keystone State will be the first in the US to have access to a feature called PlayPause, a self-exclusion tool for online gamblers. GeoComply, a tech company that provides secure geolocation services, created a nonprofit […]
Less than a week after debuting in Pennsylvania on the NBA’s opening night, BetMGM and the Philadelphia 76ers announced a multi-year partnership agreement. Announced Tuesday, the deal gives BetMGM’s logo key placement inside the Wells Fargo Center, including on the pole pads on either side of the court during 76ers […]
BetMGM has had a busy fall in Pennsylvania, and they’re (literally) just getting started. Since Thanksgiving week, the online sports betting operator has signed a multi-year partnership with the Pittsburgh Steelers, fast-tracked their approval process, and launched their sports betting app a couple of weeks ahead of schedule in the […]
BetMGM’s pending arrival in Pennsylvania kicked off Tuesday with the announcement of a multi-year deal with the Pittsburgh Steelers. The online sportsbook has grown its media footprint steadily since hiring chief operating officer Ryan Spoon from ESPN last month. Parent company MGM touted BetMGM as the company’s 2020 bright spot […]
Buoyed by a trio of new states approving gambling on Election Day and continued progress with professional sports partnerships, DraftKings reported some big third quarter wins on Friday. As a result, shares of DraftKings stock jumped more than 10% to end the week after the company released blockbuster quarter-end totals, […]
An announcement that Wynn Resorts is in the process of investing heavily in its online gambling product, combined with the news that a COVID-19 vaccine may be in the offing, resulted in a mammoth win for the resort and entertainment giant (NASDAQ: WYNN) as its stock price surged more than 22% Monday […]
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