iGaming

Michigan's highly anticipated launch of online sports betting is set to happen on Friday, Jan. 22. Nine companies have been approved to launch online sports betting offerings, according to Roundhill Investments. Penn National: The Barstool Sportsbook app from Penn National Gaming (NASDAQ:...

A KeyBanc analyst has initiated coverage on seven companies in the sports betting and casino space, offering a more conservative view of the total addressable market size opportunity. 4 Gaming Picks: KeyBanc analyst Brett Andress named four stocks in the gaming space that he said are...

Casino, gaming and sports betting stocks had a wild ride in 2020 with the COVID-19 pandemic and the cancellation of major sports seasons and events. Bank of America analyst Shaun Kelley shared his thoughts on the overall sector with a 2021 outlook called, “From shorts to sports.” Sports...

The state of New Jersey set a sports betting record for the fourth consecutive month and remains on pace to break the year record. What Happened: The state of New Jersey saw a total of $931.6 million bet on sports in the month of November, bringing its year-to-date total to $5.02 billion. New...

DraftKings Inc (NASDAQ: DKNG) gets a new rating initiation that calls out increased valuation and competition. The DraftKings Analyst: JPMorgan analyst Daniel Politzer initiated coverage on DraftKings with a Neural rating and a $48 price target. The DraftKings Thesis: Politzer said there's much...

One of the largest SPAC deals to date was announced Monday, with online payments company Paysafe going public. The Transaction: Paysafe is going public via SPAC Foley Transimene Acquisition Corp II (NYSE: BFT). The deal values Paysafe at an enterprise value of $9 billion. The deal includes a PIPE...

Flutter Entertainment (Pink: PDYPY) is making a big bet on the growth of the U.S. sports betting market. What Happened: On Thursday, Flutter announced it's increasing its ownership in FanDuel from 57.8% to 95%. The purchase by Flutter comes from Fastball Holdings, which will now own 7% of...

A year after Michigan Gov. Gretchen Whitmer signed legislation legalizing sports betting and iGaming, operators will soon be able to offer these services through online and mobile platforms. What Happened: The bipartisan Joint Committee on Administrative Rules waived the 15-day waiting period...

The Michigan Joint Committee on Administrative Rules is set to bless new regulations Tuesday, which could include online sports betting in the state. What To Know: One year after the state of Michigan legalized sports betting, the state has not allowed online sports betting or iGaming. Until last...

DraftKings Inc (NASDAQ: DKNG) has inked a number of partnerships with sports leagues and teams to gain access to fan bases and branded advertising opportunities. What Happened: In its latest move, the Detroit Pistons and DraftKings announced a partnership covering daily fantasy, sports betting...

Roundhill Investments CEO and co-founder Will Hershey joined Benzinga's "SPACs Attack" YouTube show this week to discuss the overall sports betting market. About The BETZ ETF: Roundhill launched the Roundhill Sports Betting & iGaming ETF (NYSE: BETZ) this year to tackle the...

A new deal between Bally’s Corporation (NYSE: BALY) and Sinclair Broadcast Group (NASDAQ: SBGI) positions both companies to be players in the massively growing U.S. online sports betting market. What Happened: Bally’s and Sinclair this week formed a long-term partnership...

DraftKings Inc (NASDAQ: DKNG) reported third-quarter earnings Friday before the market open. The company also issued fiscal 2021 revenue guidance for the first time. Q3 Earnings: Revenue grew 42% year-over-year to $133 million in the third quarter for DraftKings. The company beat the...

Further sports betting legalization and launches in additional states represents a major catalyst for a sector that has posted solid returns in 2020. The Next States To Launch: BofA Securities analyst Shaun Kelley shared takeaways in a note from a conversation with Chris Grove and...

Analysts defending the DraftKings Inc (NASDAQ: DKNG) share offering and the company's high marketing costs. DraftKings has lower customer acquisition costs than in the prior year, and additional state legalization in the online sports betting market in its favor, the analysts said. The...