Poker Stocks in the news
Flutter Entertainment, the owner of many of the industry’s top gaming products, will bring on new leadership soon. Current Chief Executive Officer Peter Jackson, who has been in his post since January 2018, is reportedly stepping down from his position, effective October 1. He is to be replaced by the current President of Flutter, Dan… Read more »
Greek gambling company Bally’s Intralot has agreed to acquire British bookmaker evoke plc in an all-stock deal for 52 pence per share. That represents a 30% premium over Thursday’s closing price, bringing the total purchase price to approximately £243 million ($326 million). Shares in evoke jumped 15% to 46p on Friday’s news. The industry has… Read more »
Just six years after it was bought in a $17.3 billion deal, Caesars might be on the move again. According to the Financial Times, the company has received acquisition offers and one name that is courting the gaming giant is Tilman Fertitta, owner of Landry’s, Inc. and the NBA’s Houston Rockets. As the FT noted,… Read more »
Australian casino company Star Entertainment has seen its stock price go on a roller coaster ride the last couple days, as rumors of a takeover have swirled. And the latest is not good. On Monday, Star said that it was involved in “non-substantive discussions” with a consortium led by Hard Rock Hotels & Resorts (Pacific)… Read more »
Markets react positively A consortium led by Hard Rock Hotels & Resorts (Pacific) has expressed interest in acquiring struggling Australian casino company Star Entertainment. According to Australian Financial Review, Star’s Board of Directors has received the group’s proposal, though no official offer announcement has been made. Hard Rock would rebrand Star and separate the casinos… Read more »
888 Holdings will soon change its name to evoke plc after shareholders nearly unanimously approved the rebranding. At the company’s Annual General Meeting on Monday, 99.79% of the total votes cast were in favor of the new name. Of the 18 resolutions, just three had a higher “for” percentage than the rename, and they were… Read more »
According to a gaming industry analyst, cash-strapped Bally’s Corporation could look to sell the land on which the Tropicana Las Vegas sits now that the casino is closed. CBRE Credit Research VP of Credit Research Colin Mansfield said in a Monday investor report that Bally’s could be willing to part with the land to fund… Read more »
K&F calls shenanigans Bally’s shareholder K&F Growth Capital has issued a letter to the company’s Board of Directors, urging it to reject the acquisition deal offered by Standard General, Bally’s largest shareholder In the letter, K&F accuses Soo Kim, Chairman of Bally’s and the founder of Standard General, of taking advantage of the drop in… Read more »
What’s in a name? In an interesting move that reeks of “corporate speak,” gambling company 888 Holdings announced this week that it intends to change its name to “evoke.” That’s the word evoke, all lowercase. The announcement was quiet – 888 didn’t send out a big press release about it or anything – simply mentioned… Read more »
Internet gaming company Entain is reportedly looking to sell online poker room PartyPoker, this according Sky News. Entain has retained the services of Oakvale Capital to work on a possible sale. Other than that, any details are few and far between, as it sounds like Entain is just in the preliminary stages of a prospective… Read more »
Hedge fund Standard General has made an offer to buy gambling Bally’s Corporation for $15 per share, equating to a company valuation of $648 million. Standard General is already the largest Bally’s shareholder, owning 23% of the company. Monday’s offer was a substantial 41% premium over Bally’s share price at Friday’s close. The offer is… Read more »
Big decision Flutter Entertainment, the parent company of PokerStars, FanDuel, and Betfair, among many other brands, began trading on the New York Stock Exchange (NYSE) on Monday. As of the writing of this article, shares in FLUT are at $207.00, up 0.98% on the day. Flutter doesn’t plan on stopping there, though. Currently listed on… Read more »
French gambling company La Française des Jeux SA (FDJ) has announced that it has made an offer to acquire Unibet parent Kindred Group. In a press release, FDJ stated that the offer is for SEK130 ($12.43) per share; Kindred said that the all-cash proposal totals SEK27.951 million ($2.7 billion). The offer is a 24% premium… Read more »
Sports apparel giant Fanatics announced Sunday night that it has agreed to acquire the US assets of sports betting company PointsBet for $150 million. PointsBet shareholders are expected to vote on the transaction in a late-June meeting. The Australia-based PointsBet will retain its other businesses around the world, including its proprietary software platforms. After the… Read more »
888 staggered The bottom dropped out of shares in gambling group 888 Holdings plc on Monday as CEO and Executive Director Itai Pazner has stepped down from both roles as an internal investigation into possible failures in the company’s anti-money laundering (AML) and know-your-customer (KYC) processes. 888’s shares opened down nearly 10% from Friday’s close… Read more »
We have seen it across the States of America. Areas that had never embraced gaming have moved forward with regulating online sports betting, daily fantasy sports (DFS), and even casino gaming (online poker, alas, lags far behind). Now states are beginning to eye areas of expansion for their “brick and mortar” operations, with the state… Read more »
Note: This article was originally published 8/23/22, but technical issues required it to be re-posted. A complete mess The end is likely near for Lottery.com, the lottery ticket management service that lets people play the lottery and keep track of their entries from their phones. On Monday, the Portnoy Law Firm announced that it has… Read more »
Deal could grow by hundreds of millions Entain plc, the parent company of partypoker, bwin, Ladbrokes, and many more gambling brands, has agreed to acquire BetEnt B.V., trading under the name BetCity.nl, from Sports Entertainment Media B.V. for up to €850 million. Entain will initially pay €300 million in cash when the deal is completed… Read more »
Looks like an offer will finally drop We may know within a month if another, significant offer is on the table to acquire online gambling software development company Playtech. On Friday, the gaming giant that powers the iPoker Network announced that it has given TTB Partners until June 17 to make a formal buyout offer… Read more »
Daily fantasy sports leader turned sports betting giant DraftKings may be one of the leaders in the US betting industry, but its stock has been sinking like a stone since the fall. On Monday, DraftKings’ share price closed below $11, its lowest point since the company went public in April 2020. Monday’s closing price was… Read more »
New name for a new direction In what makes it sound like a 1980’s toy company, gaming technology supplier Scientific Games is changing its name to Light & Wonder. In the Tuesday announcement, the company said, “Our new name and identity are born from our winning strategy to be the leading cross platform game company… Read more »
Not a pretty chart DraftKings, one of the top two names in daily fantasy sports, is also now one of the biggest brands in legal, regulated sports betting in the United States. But that name recognition has not helped its stock price lately, as the company has lost billions in market share. In terms of… Read more »
Couldn’t see eye to eye DraftKings’ pursuit of Entain is over. On Tuesday, the sports betting and daily fantasy sports leader said it has ended talks with Entain about acquiring the partypoker parent company. Neither company gave specifics as to way no deal could be agreed upon. According to UK law (Entain is headquartered in… Read more »
Parties need more time Today was the deadline for sports betting and daily fantasy sports leader DraftKings to officially make an offer to buy partypoker owner Entain, but an offer never materialized. That does not mean that the deal is dead, however, as Entain has extended what it calls the “put up or shut up”… Read more »
Apparently that wasn’t DraftKings’ best offer Late Tuesday, after partypoker’s parent company Entain confirmed that DraftKings had put forth an offer to buy the UK-based gambling company, Entain pulled back the curtain further, revealing that it was already considering a second offer from DraftKings. The original offer, according to CNBC, was for $20 billion. Entain… Read more »
