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Wynn UAE Casino to Benefit from Demographics, Taxes, Says JPMorgan
Wynn Resorts’ (NASDAQ: WYNN) integrated resort in the United Arab Emirates (UAE) is poised to benefit from attractive demographics and a favorable tax regime, according to JPMorgan analysts. Al-Marjan...
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Macau Casino Stocks Could Be Boosted by More China Stimulus
Late last month, Macau casino stocks surged after the People’s Bank of China (PBOC) cut interest rates and Beijing announced a new round of stimulus measures targeting select segments of the Chinese...
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Sports Betting M&A to Be Driven by New Products, Tech, Says Expert
Mergers and acquisitions activity in the North American sports betting industry has been brisk this year with operators making buys to add technology and exposure to new arenas. The famous charging...
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Caesars New Orleans Could Feel Taylor Swift Effect
Caesars Entertainment’s (NASDAQ: CZR) fourth-quarter financial results could derive benefit with some help from pop star Taylor Swift. Taylor Swift performs live. Her upcoming New Orleans concerts...
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UK Gambling Shares Tumble on Fears of Government Tax Grab
Shares of UK-based betting companies took a big hit in early trading Monday as investors reacted to reports that the British government was planning a “tax raid” on the industry. UK Chancellor Rachel...
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Genius Sports to Provide Next Gen Stats for Rams Home Games
Genius Sports (NYSE: GENI) announced today it reached an agreement with the Los Angeles Rams under which it will provide highlights supported by Next Gen Stats (NGS) during the team’s home games at...
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Sphere Stock Rallies on Plans for Abu Dhabi Venue
Shares of Sphere Entertainment (NYSE: SPHR) rallied late Monday after the company confirmed its second venue will be located in Abu Dhabi, United Arab Emirates (UAE). The Las Vegas Sphere lit up on...
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Flutter CEO Says States Need to Be Careful About Sports Betting Taxes
Flutter Entertainment (NYSE: FLUT) CEO Peter Jackson says states need to be measured in how they apply and potentially raise online sports betting taxes because pushing those levies too high could...
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Miriam Adelson Contributes $95 Million to Trump PAC
During the third quarter, Dr. Miriam Adelson donated $95 million to a super political action committee (PAC) focusing on former President Donald Trump’s 2024 bid. Dr. Miriam Adelson embraces Donald...
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Caesars Among Most Shorted S&P 500 Stocks
Caesars Entertainment (NASDAQ: CZR) was one of the most heavily shorted stocks in the S&P 500 in September, according to new data. Visitors entering Caesars Palace Las Vegas. Short interest in the...
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Sands Cash Flow Could Support Dividend, Says Moody’s
Las Vegas Sands’ (NYSE: LVS) rising free cash flow could support the casino giant’s ability to maintain and raise its quarterly dividend and repurchase shares. Sands China’s Parisian Macau on the Cotai...
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Diamond Sports Pushing for Fast FanDuel Rebrand on RSNs
Diamond Sports Group, the bankrupt operator of regional sports networks (RSNs) currently bearing the Bally’s Sports name, is asking a court to allow it to rebrand to FanDuel as soon as possible. A map...
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Entain Reports Strong Q3 After UK ‘Tax Raid’ Scare
Online gambling giant Entain [LON: ENT] upped its earnings guidance following a better-than-expected Q3. It’s a silver lining in a week when the company’s shares took a big hit over news that the UK...
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Golden Entertainment Could Mull Sale-Leaseback on Unidentified Casino
Golden Entertainment (NASDAQ: GDEN) could consider selling and leasing back one of its casinos as an avenue for raising cash. Golden Entertainment’s Strat Las Vegas. An analyst says the operator could...
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MGM Makes Cut in Goldman Sachs ‘Buyback Basket’
MGM Resorts International’s (NYSE: MGM) long-standing commitment to repurchasing its shares is well-known on Wall Street. Bellagio Las Vegas. Operator MGM is featured in the Goldman Sachs buyback...
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CFTC Promises Scrutiny of Election Wagering Sites
The Commodities and Futures Trading Commission (CFTC) is pledging to diligently monitor platforms offering financial contracts tied to political outcomes as Election Day nears. The headquarters of the...
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Oakland A’s Mulling Stake Sale at $2B Valuation
Ahead of the team’s move to Las Vegas, the soon-to-be former Oakland Athletics (A’s) are rumored to be considering the sale of a minority interest in the franchise. The exterior of the Oakland...
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Las Vegas Sands Raises Dividend, Will Repurchase $2B in Stock
Las Vegas Sands (NYSE: LVS) is elevating its shareholder rewards, announcing an increase to its quarterly dividend while unveiling a large share repurchase program. Marina Bay Sands in Singapore....
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Boyd Gaming Stock Hits New High as Las Vegas, Norfolk Underpin Growth
Shares of Boyd Gaming (NYSE: BYD) rallied Friday, a day after the casino operator delivered third-quarter results — a report that highlighted growth opportunities in Las Vegas and Norfolk, Va. Boyd...
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Gateway Casinos Could Tap Private Credit Market for $1.8 Billion
Canada’s Gateway Casinos is reportedly mulling the issuance of $1.8 billion in private credit to trim existing liabilities and pay its owners a dividend. Gateway Casinos London is one of 14 casinos in...
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GLPI Waiting on Bally’s for Stadium Casino Financing Updates
Gaming and Leisure Properties (NASDAQ: GLPI) said it’s waiting on Bally’s (NYSE: BALY) to provide updates on potential financing needs for a planned casino hotel at the site formerly occupied by the...
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California Casino Fined $900K by FinCEN for Anti-Money Laundering Failures
A California casino has been hit with a massive fine to settle allegations brought against the commercial card room by the Financial Crimes Enforcement Network (FinCEN). The Lake Elsinore Hotel and...
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Camrose Casino Receivership Jeopardizes Edmonton Move
The company that owns the Camrose Casino in Alberta, Canada, has been ordered into receivership by the province’s superior court, the Court of King’s Bench. The Camrose Casino in the small city of...
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Genting Singapore Credit Rating Supported by RWS, Says Moody’s
Momentum at Resorts World Sentosa (RWS) is supportive of Genting Singapore’s solid credit rating, according to Moody’s Investors Service. Resorts World Sentosa. Operator Genting Singapore has a strong...
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Robinhood Investing App Enters Election Betting Arena
With Election Day about a week away, Robinhood announced it’s the latest investing platform to throw its hat into the political wagering ring. Sample images of the Robinhood investing app on...
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Trump Media Stock Punishing Short Sellers
With shares of Trump Media & Technology Group (NASDAQ: DJT) — the Republican presidential candidate’s social media company — responding to positive news for the former president in betting market,...
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Las Vegas Q4 GGR Unlikely to Surprise to Upside Amid Tough Comps
Following a tepid September reading of Nevada gross gaming revenue (GGR), some analysts believe there’s limited potential for Las Vegas Strip casino operators to materially surprise to the upside in...
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Caesars Unloading LINQ Promenade for $275 Million
Caesars Entertainment (NASDAQ: CZR) announced that it is selling the LINQ Promenade on the Las Vegas Strip for $275 million as part of the gaming company’s ongoing debt reduction efforts. Caesars’ LINQ...
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Jim Chanos, Short Seller and Democrat Donor, Rips Election Betting Markets
Jim Chanos, one of the most accomplished short sellers in the history of US financial markets, has a bone to pick with election betting platforms and his political leanings might be why. Kynikos...
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MGM Continues Buying Back Shares as BetMGM Revenue Soars
MGM Resorts International (NYSE: MGM) delivered third-quarter results today, highlighting to investors its ongoing share repurchase efforts and revenue growth at its BetMGM unit. The Cosmopolitan Las...
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Rush Street Interactive Rallies on Upped Guidance, Buyback Plan
Shares of Rush Street Interactive (NYSE: RSI) surged in Wednesday’s after-hours trading session after the gaming company boosted its 2024 earnings guidance while announcing a $50 million share buyback...
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DraftKings Earnings: Expect Another Beat, Increased Guidance
DraftKings (NASDAQ: DKNG) steps into the earnings confessional on November 7 and when the sportsbook operator delivers third-quarter results, some analysts expect it will extend its precedent of...
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VICI Properties Again Lifts AFFO Guidance
VICI Properties (NYSE: VICI), the largest owner of casino real estate, slightly increased its 2024 its 2024 adjusted funds from operations (AFFO) guidance for the second time this year. Caesars Palace...
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Bally’s Selling Asia Digital Gaming Operations
Bally’s (NYSE: BALY) said it is selling its Asian interactive gaming business, which also operates in other markets, to a group comprised of executives from the to-be-divested entity. Bally’s on the...
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Wynn Lifts Buyback Plan to $1B as Q3 Earnings Miss Estimates
Shares of Wynn Resorts (NASDAQ: WYNN) dipped in Monday’s after-hours session despite the casino operator announcing it boosted its share repurchase program to $1 billion. Disappointing third-quarter...
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Dotty’s Operator Wins $3 Million Tax Refund from Nevada Regulator
The Nevada Gaming Commission (NGC) unanimously voted in favor of refunding $3.12 million in overpaid taxes to Nevada Restaurant Services Inc., the operator of the ubiquitous Dotty’s gaming taverns. A...
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MGM Investor Barry Diller Criticizes WaPo Over Endorsement Flap
The chairman of IAC/InterActiveCorp (NASDAQ: IAC), the company that’s the largest shareholder of MGM Resorts International (NYSE: MGM), wasn’t pleased with The Washington Post’s decision to not endorse...
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Century Casinos Extends Rally as Analysts See Room for 2025 Upside
After soaring nearly 12% Monday on the back of a solid third-quarter earnings report, Century Casinos (NASDAQ: CNTY) extended that rally on Tuesday, at one point trading at its highest levels since...
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Polymarket Paid Influencers to Drive Election Betting
Polymarket, the popular cryptocurrency-based political betting platform, paid social media influencers to drive engagement ahead of this year’s presidential election. Vice President Kamala Harris...
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Missouri Vote Stokes Sports Betting Stock Rally
Sports betting stocks rallied Wednesday after voters in Missouri passed an amendment to legalize regulated sports wagering in the state. A billboard promoting the Missouri sports betting amendment....
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