Cricket and sports betting came up multiple times during Walt Disney’s earnings call on Thursday. It was a knuckleball for Disney analysts who normally focus on theme parks and movies. They failed to predict the impact of Disney’s newest revenue streams. Disney’s parks can’t operate at full capacity, due to […]
Wynn Resorts and Penn National Gaming announced worse-than-expected earnings last week. Yet, nearly every casino stock rose on the news. Sports betting may be one reason why investors are ignoring the present and looking to the future. Wynn’s stock price jumped 7.7% on Friday, following the casino company’s lackluster earnings […]
By now, most people have heard about the recent battle over a videogame retailer’s stock. But, few understand how the GameStop stock saga impacted sports and gaming. An MLB owner, a casino company — and even the Super Bowl — all became part of the drama. It all started with […]
Anheuser-Busch announced it won’t be placing any Budweiser ads in Super Bowl 55. But don’t worry, the Clydesdale horses aren’t out of work. Instead, Sam Adams will feature the iconic breed in an East Coast ad campaign. Budweiser isn’t the first brand to drop out of this year’s Super Bowl. […]
In the wake of the pandemic, more states are pushing through online sports betting bills. Connecticut, which had a number of bills fail in previous sessions, may finally have a winner. Even gambling-averse Texas recently filed an online sports betting bill. A number of states rushed to legalize sports betting […]
The WNBA confirmed on Tuesday that the Atlanta Dream will soon have a new owner. The pending sale, first reported by the Atlanta Journal-Constitution, will likely displace Kelly Loeffler, providing leadership more in step with the league and its players. Loeffler wedged herself between a rock and a hard place. […]
Last year, advertisers spent a record-breaking $435 million on Super Bowl ads, according to Kantar Media. This year probably won’t break any records, however, now that Coca-Cola, Pepsi, and Hyundai have decided to pass. A number of factors contributed to last year’s record Super Bowl ad spend. The NFL’s regular-season […]
Las Vegas Sands founder Sheldon Adelson died on Jan. 11 at age 87. He died within days of taking a leave of absence as the company’s CEO to restart cancer treatments. Adelson successfully built a casino empire and amassed billions, but his political and online gaming legacy may prove as […]
A new set of NFL futures contracts could help sportsbooks and stadium owners offload unwanted risk. If approved, Eris Exchange, LLC (ErisX), will offer moneyline, point spread, and over/under futures contracts for every NFL game. While sports bettors won’t be able to trade these contracts, they could benefit from better […]
After 15 years, Adidas is throwing in the towel and putting Reebok up for sale. Hip-hop entrepreneur Perry “Master P” Miller and former NBA star Baron Davis think they can turn the iconic company around. Success won’t be a slam dunk, however, given Reebok’s hefty $2.4 billion price tag. Reebok […]
Expansion would allow the NBA to pocket billions of dollars that it won’t have to share with players. That’s a tempting option for the cash-strapped league. It’s so tempting, in fact, that NBA Commissioner Adam Silver has changed his tune about keeping the league’s team count at 30. The NBA […]
Athletic superstars — or GOATs — share certain traits, according to a recent study. Knowing what they are may help you raise one, or more importantly, draft one. When drafting a player, it may be as important to know if they have an older brother than their average yards per […]
Nike beat earnings expectations for the quarter ended Nov. 30. The athletic apparel company was able to boost revenues by 9%, even in the midst of the pandemic. Meanwhile, Under Armour is hoping its new “Curry Brand” will guide it back toward growth. Predictably, most retail companies have struggled this […]
Wayne Gretzky’s O-Pee-Chee rookie card recently sold for $1.29 million, setting a new record for collectible hockey cards. Sports memorabilia collectors have come to expect record-breaking sales in 2020, but this year’s collectibles market is so hot, even Wall Street is starting to notice. There have been a number of […]
Major League Cricket has permission to redevelop a former independent league baseball stadium near Dallas, making way for the second cricket stadium in the US. Once converted, the former AirHogs Stadium will become the home of USA Cricket, the governing body of cricket in the United States. The renovated stadium […]
MLB announced the addition of three new minor leagues in 2021. But, the two new college leagues and a new independent league won’t be enough to offset the more than 40 teams the MLB eliminated last year. MLB officially invited only120 of its existing 162 professional minor league teams to join […]
When the Texas Legislature kicks off its January session, it will be greeted by a bevy of top-notch casino lobbyists. Sheldon Adelson is sending his best and brightest to the Lone Star State, with the goal to legalize gambling. Texas has been a gambling holdout. But the pandemic’s toll on […]
After 32 long seconds engulfed in flames, Romain Grosjean emerged from a horrific first-lap crash. After hitting the ArmCo barrier in turn three of the Bahrain Grand Prix, Grosjean’s car broke apart and the fuel tank exploded. Miraculously, he emerged with minor injuries. Veteran F1 fans described it as “bone-chilling” […]
Bally’s Corporation, formerly Twin River Worldwide Holdings, acquired the sportsbook and iGaming technology company, Bet.Works. But that wasn’t Bally’s only mega-deal this week. Bally’s also announced a strategic partnership with Sinclair Broadcast Group, which sent both their stocks soaring. Bally’s recent deals should boost its sports betting profits. At least […]
Two sports-related sectors have thrived this year, even in the midst of the pandemic. In many cases, investing in sports betting and esports companies produced outsized gains. Picking individual winners, however, can be tricky. But that’s where exchange-traded funds (ETFs) can help. ETFs are listed on major stock exchanges and […]
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