Las Vegas Sands is considering selling its casino properties on the vaunted Las Vegas Strip. According to sources, Sheldon Adelson’s company is in talks to sell the Venetian, the Palazzo, and its convention center. Once Adelson’s crown jewels, the Venetian and Palazzo casinos are now but a small piece of […]
Billy Beane’s SPAC could acquire both the Boston Red Sox and the Liverpool Football Club. RedBall, a blank-check investment company, has been looking to buy a professional sports team. Instead of one team, however, the SPAC could end up with two world-class franchises — if it can raise more cash […]
Apollo Management International and Caesars Entertainment are each courting William Hill. William Hill has received proposals from both companies in what could be the first steps of a takeover. Shares of the sportsbook soared more than 40% on the news. On Friday, William Hill issued a statement confirming it received […]
Steve Cohen needed $2.45 billion to buy the NY Mets. But with a SPAC, you don’t need to be a billionaire to own a professional sports team. Special purpose acquisition companies are a hot stock market trend, and they offer individuals an opportunity to own everything from a European football […]
The hedge fund HG Vora now owns a 5.1% stake in the sportsbook William Hill. The fund’s manager, Parag Vora, has a history of instigating gaming sector deals and, as a result, William Hill could be in play. The hedge fund’s $149 million William Hill investment was disclosed in a […]
Justin Timberlake is joining a high-profile group, trying to score a MLB team for Nashville. Timberlake, a Grammy Award winner and Memphis Grizzlies minority owner, is a pitch-perfect addition to the Music City Baseball investment group. Timberlake, a Memphis native, is excited by the prospect of a Nashville MLB team. […]
NBA icon Michael Jordan will receive an equity stake in the sports betting company DraftKings. In exchange, Jordan will become a special advisor to the company’s board of directors. News of the deal, announced Wednesday, sent DraftKings’ stock soaring. This isn’t Jordan’s first investment in the sports betting sector. In […]
There might be light at the end of the tunnel for NY Mets fans. On Friday, the beleaguered team won a double-header against the Yankees. On Saturday, fans discovered that billionaire Steve Cohen is in exclusive talks — again — to buy the Mets. In a subway series for the […]
A one-of-a-kind Mike Trout rookie card broke a record on Saturday when it sold for $3.84 million at auction. Including the buyer’s premium, the card sold for $3.94 million. Honus Wagner’s 1909 T206 card, which fetched $3.1 at auction back in 2016, was the previous record holder. While the buyer’s […]
Sportsbook deals continue to heat up, even as major league sports continue to struggle. In a new multi-year deal, International Gaming Technologies will provide the technology for all of FanDuel’s retail sportsbooks. Meanwhile, FanDuel rival, DraftKings, sees opportunity in the Premier Lacrosse League. Restarting sports in 2020 has been challenging, […]
Massachusetts may be the first state to allow online sports betting that isn’t tied to a brick and mortar casino. The Massachusetts House plans to add its unique sports betting proposal to an economic development bill currently making its way through the legislature. More than 20 states have successfully passed […]
Formula 1 officially canceled the US Grand Prix, set for Austin’s Circuit of the Americas in October. Citing health concerns, F1 canceled all four of its races in the Americas, opting to add more European stops instead. F1 was one of the first sports to grapple with the coronavirus. Back […]
Longtime owner Glen Taylor is looking to sell the Minnesota Timberwolves for $1.2 billion. Current bidders include the Wilf family, owners of the NFL’s Minnesota Vikings, while another bidding group features Kevin Garnett, the former power forward who led the T-Wolves to eight consecutive playoff berths. The 79-year old Taylor […]
The National Women’s Soccer League (NWSL) awarded its Los Angeles expansion team rights to an owners group, replete with women actors, entrepreneurs and athletes. The star-studded group includes actor Natalie Portman, tennis pro Serena Williams, and 14 former USWNT players. Last month, The Athletic revealed that an LA expansion team was […]
The WNBA 2020 regular season schedule gets underway on July 25 and runs through Sept. 12. The players are already bubbled (or wubbled) at the IMG Academy in Florida. Fortunately, fans won’t have to wait long for Sabrina Ionescu’s professional debut, scheduled for opening day. The players are already at […]
New Jersey gave its approval for the Eldorado Resorts and Caesars Entertainment merger on Friday, but with one surprising condition. Given the current environment, however, the casino companies are lucky they made it through the lengthy approval process. The New Jersey Casino Control Commission was the last regulator to review […]
Multiple claims of sexual harassment are upstaging the Washington Redskins’ team renaming saga. The disturbing revelations, detailed by The Washington Post on Thursday, could shake up the NFL team’s ownership ranks. According to the paper, 15 women are alleging widespread sexual harassment while working for the Washington Redskins. Although Dan […]
Billionaire hedge fund manager Steve Cohen is apparently taking another stab at buying the New York Mets. According to rumors, Cohen is a last-minute participant in the first round of bidding for the MLB team. If the rumors are true, this would be Cohen’s second attempt to pry the Mets […]
Citing family health concerns, MLB pitcher David Price has opted out of the 2020 season. It’s a tough break for the Dodgers, who traded for Price in February. Meanwhile, the Red Sox could get a little CBT buffer due to the pitcher’s hiatus. One of the biggest trades leading into […]
Under Armour is trying to ditch its long-term contracts with two of California’s best-known college sports programs. This appears to be yet another desperate attempt by the fading apparel company to stem its mounting losses. Under Armour was struggling even before the global pandemic. Since then, things have only gotten […]
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