DraftKings finalizes Golden Nugget Online Gaming deal
Summary: DraftKings has finalized its deal to acquire Golden Nugget Online Gaming, the two groups announced Thursday. Why it matters: DraftKings sees the deal as a way to expand its online casino gaming product, which is far more lucrative per customer than online sports betting.The combined deal could save $300 million in business synergies, DraftKings […]
Bally’s to remain public company
Summary: Bally’s will reject a takeover offer and remain publicly traded, the company announced Thursday. Why it matters: Standard General, the company’s largest shareholder, had offered to buy all shares it didn’t already own and take the company private; that offer was rejected by the Bally’s board, the company announced Thursday.Bally’s, the former Twin Rivers […]
Missouri online sports betting bill debate again falls short
Summary: Missouri lawmakers early Thursday morning again debated online sports betting legislation without any affirmative vote. Why it matters: Missouri seemed like a safe bet to approve legal wagering after lawmakers separated a more contentious conversation around unregulated video lottery terminal machines; that debate re-emerged last week as lawmakers combined the VLT legislation back into […]
Bally’s rejects buyout proposal
Soo Kim on Bally’s board rejection of Standard General’s acquisition offer”While we are of course disappointed with the outcome of the discussions of our proposal, as we said from the outset, we intend to remain a supportive, long-term investor in the Company.” – Soo Kim, Managing Partner, Standard General (Source Link)
Penn transitioning to in-house tech stack
@ButlerBets: $PENN expects to transition theScore Bet in Ontario to theScore’s proprietary risk and trading platform by Q3 2022 and remains on track to transition the Barstool Sportsbook to theScore’s trading platform in Q3 2023, CEO Jay Snowden said in a statement announcing Q1 2022 results