Business and Commerce

BetMGM Nabs Pittsburgh Steelers Partnership Prior to Launch in Pennsylvania

BetMGM Nabs Pittsburgh Steelers Partnership Prior to Launch in Pennsylvania

BetMGM’s pending arrival in Pennsylvania kicked off Tuesday with the announcement of a multi-year deal with the Pittsburgh Steelers. The online sportsbook has grown its media footprint steadily since hiring chief operating officer Ryan Spoon from ESPN last month. Parent company MGM touted BetMGM as the company’s 2020 bright spot […]

Into Mischief broke a 2016 Tapit record for highest progeny earnings in a calendar year. (Image: Spendthrift Farm)

Into Mischief Again Proves He’s a Breed Above the Rest

Into Mischief illustrated again why he is the most sought-after sire in North America when his suddenly hot 2-year-old, Life Is Good, won his Del Mar debut Sunday. With the victory, Into Mischief broke the North American single-season progeny earnings record. When Life Is Good romped home by 9-½ lengths […]

In April, Twin River Holdings -- now Bally's -- acquired Bally's Atlantic City for a song. (image: Bally's Atlantic City)

Bally’s Buys Bet.Works, Forges Sinclair Broadcast Partnership

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 […]

Crowded Field Yields Significant Sports Betting Uptick in the Rockies

Crowded Field Yields Significant Sports Betting Uptick in the Rockies

Like New Jersey, Illinois, and Indiana, Colorado has reported record increases in online gambling this fall as a bevy of sportsbook operators custom-tweak apps and websites to gain credibility among bettors. Online Wagering in Colorado Takes Hold in the Fall Sports betting went live in Colorado on May 1, after […]

DraftKings has launched the first retail sportsbook in New Hampshire at The Brook in Seabrook. (Image: DraftKings)

DraftKings Stock Soars Again After Analysts Set $100 Price Target

DraftKings stock continued to climb back toward its peak on Thursday, rising to nearly $50 a share after analysts said a likely boom in sports betting will greatly increase the profitability of the Boston-based company. The stock rose to nearly $65 a share in early October, but dropped to about […]

Expo Gold, in foal to multiple Grade 1 winner Catholic Boy, sold for $950,000. She is better known as the dam of Preakness Stakes champion Swiss Skydiver. (Image: Keeneland)

Keeneland November Sale Brings Stability, Slight Dip to Sales Market

One of the biggest horse sales in North America, the Keeneland November Breeding Stock Sale, ended its 10-day run Wednesday with a modest, COVID-19-related drop in sales from 2019. At the same time, nine horses sold for at least $1 million each. The Keeneland November Breeding Stock Sale is one […]

New Jersey Shatters Online Gambling Records in October, Nevada Lags Behind

New Jersey Shatters Online Gambling Records in October, Nevada Lags Behind

New Jersey’s online sports gambling totals went berserk in October, and officials say a billion-dollar handle month is possible by year’s end. Remarkably, officials also reported that online gambling is coming close to making up for all brick-and-mortar losses sustained during the COVID-19 pandemic. “Casino win was 92% of last […]

DraftKings’ Q3 Gains Create Stock Surge, But is Success Sustainable?

DraftKings’ Q3 Gains Create Stock Surge, But is Success Sustainable?

Buoyed by a trio of new states approving gambling on Election Day and continued progress with professional sports partnerships, DraftKings reported some big third quarter wins on Friday. As a result, shares of DraftKings stock jumped more than 10% to end the week after the company released blockbuster quarter-end totals, […]

Currently, North American horseplayers bet using the pari-mutuel system, which pays out based on money wagered in a common pool. New Jersey may be the first US state allowing fixed-odds wagering on horse races. (Image: Ryan Denver/Equi-Photo)

New Jersey Moves One Step Closer to Fixed-Odds Horseracing Wagering

A bill expanding and legalizing fixed-odds wagering on New Jersey horse races emerged from committees in that state’s senate – a little more than a week after being introduced in New Jersey’s state legislature. The bill, allowing permanent fixed odds on races, enjoys bipartisan support in the state legislature. The […]

WynnBET Expansion Lights Fiscal Path for Wynn Resorts

WynnBET Expansion Lights Fiscal Path for Wynn Resorts

An announcement that Wynn Resorts is in the process of investing heavily in its online gambling product, combined with the news that a COVID-19 vaccine may be in the offing, resulted in a mammoth win for the resort and entertainment giant (NASDAQ: WYNN) as its stock price surged more than 22% Monday […]

After Authentic and John Velazquez captured the Breeders' Cup Classic, the 3-year-old Kentucky Derby champion rides into retirement. He'll open the 2021 breeding season at Spendthrift Farm. (Image: Darron Cummings/AP)

After Breeders’ Cup Classic Win, Authentic Rides Off to Retirement

After watching his gate-to-wire victory in Saturday’s Breeders’ Cup Classic, it took Authentic’s owners barely 24 hours to retire the three-time Grade 1 winner at the end of his 3-year-old season. The Kentucky Derby champion heads to Spendthrift Farm, the large Kentucky breeding farm and majority owner of Authentic. He […]

ESPN Eliminates 500 Jobs, 300 Through Layoffs

ESPN Eliminates 500 Jobs, 300 Through Layoffs

ESPN’s financial woes, exacerbated by the COVID-19 pandemic, have resulted in a massive layoff of 300 staffers along with the elimination of 200 currently unfilled job openings.  The layoffs will be spread throughout the sports cable empire, with on-air personnel being spared initially, according to a memo from ESPN Chairman […]