ESPN is officially getting into the sports betting game — in partnership with Penn Entertainment (NASDAQ:PENN) — who just landed what may be the most important sports betting deal in history. How important is ESPN in sports betting? Enough to send competitor DraftKings (NASDAQ:DKNG) down over 10% and Penn up nearly 9% yesterday. It’s been…
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Flutter Entertainment (FanDuel) Plans US IPO
There are two sports betting misconceptions: 1/ DraftKings is the largest US sports betting platform. Nope, that’s FanDuel. 2/ FanDuel is US-owned. Wrong again. Dublin-based Flutter Entertainment (LON:FLTR), the largest public gambling company, made a world-class biz move in 2018 — acquiring the majority of FanDuel. It was a multi-billion dollar move: FanDuel has become…
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NFL kicks off sports betting season, ESPN joins the draft
The Bills may have won Thursday’s NFL game opener, but sports betting firms may be the real winners. Data from GeoComply showed sports betting activity jumping 77% on Thursday compared to last year’s opening game. What’s the big deal? “NFL is the dominant driver of both wagering and user sign-ups,” per Analyst Edward Engel (SA)….
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Sports betting stocks are playing a dangerous game
Sports betting companies have a bigger addiction than its customers — one that could get investors in trouble. Behind the deceptive record Super Bowl numbers… Online sports betting stocks have recently fallen hard — despite launching in new states and total wagering reaching new highs: GeoComply saw 80M sports betting transactions over the Super Bowl…
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FuboTV gambles its future on interactive sports betting app
September is known for many things — back to school, the stock market’s worst month, plus being TV streaming providers’ strongest month. Streaming service sales spike during September — along with the start of the NFL season — with one platform capturing the majority of that growth… Sports slowly move towards streaming Founded in 2015,…
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Smaller sports betting stocks benefits from latest acquisitions
DraftKings (NASDAQ:DKNG) made an offer to acquire Entain, a European sports betting giant, for $20B. But investors don’t seem excited about the news — sending DKNG down 7.5%. What’s the big deal? Not another month goes by without announcements or rumors of a sports betting acquisition. Last month, it was Penn National Gaming buying Toronto-based…
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Sports betting companies have an acquisition addiction
Sports betting companies are getting bought up left and right — and there may be more coming. Yesterday, DraftKings announced plans to acquire sports betting player, Golden Nugget Online (NASDAQ:GNOG) for $1.6b — sending GNOG up 50%. What’s the big deal? Sports betting companies are in an acquisitive mode, as they look to take market…
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Sports betting stocks: Canadian single-sports betting approaches legalization
June 22 was Canadian single-sports betting’s final major step towards legalization — passing the Senate — and legalization could come as early as this summer. Canadian sports betting company, Score Media and Gaming (NASDAQ:SCR), jumped 10% on the news. What’s the big deal? In Canada, it’s estimated that $14b each year is spent on offshore…
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DraftKings stock falls on Hindenburg Research’s short report
On June 15, Hindenburg Research released a report accusing DraftKings of ties to the black market — sending its stock down as much as 12% before recovering most of its losses. What’s the big deal? DraftKings is the poster child of sports betting — and a top 20 holding of Cathie Wood’s ARK Innovation ETF….
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