Activist investor urges Kindred sale
Summary: Kindred has said it looks forward to “continuing a constructive dialogue with all our shareholders going forward” after it emerged that New York-based hedge fund and activist investor Corvex has taken a 10% stake in the company and is urging the company to look at a potential sale to realize value. Why it matters: […]
Caesars CEO Tom Reeg on hitting ‘peak’ losses on online activities
Caesars CEO Tom Reeg on hitting ‘peak’ losses on online activities “The first quarter is our peak EBITDA loss. Of the $554m of EBITDA loss in the quarter, a little over $400m is attributable to the launches in New York and Louisiana with New York, the lion’s share of that. We got to our handle […]
Caesars records digital losses of $554m in Q1
Summary: Caesars Entertainment announced losses $554m in first quarter losses, CEO Tom Reeg said the group had hit ‘peak losses’ and it expects to reach profitability at the end of 2023. Why it matters: Caesars is a major US gambling brand and it wants to compete with the likes of BetMGM and FanDuel, which it […]
From the Wall Street Journal
@cmaiduc: A tribes-backed measure that would legalize only sports bets placed in-person at tribal casinos has already qualified for the ballot. This could be one of the most expensive ballot battles in CA state history. More on why: https://t.co/6SYrgySVRN
Flutter revenue tweet from Daniel Stone at Vixio
@DanielStoneGC: Flutter’s UK & Ireland online business yielded 15.7% lower NGR in the year to March 2022 versus the overlapping 12 months to September 2021. The U.S. business (chiefly FanDuel) is set to become the group’s single largest segment this year. pic.twitter.com/D1LEnIU4zf