Business and Commerce

Former ESPN media technology leader is making the jump into the gambling industry by signing on with BeetMGM. (Image: ESPN)

BetMGM Signals Shift to Content and Social with Key ESPN Hire

In a move that portends an emergence as a content and social media juggernaut, BetMGM Tuesday hired Ryan Spoon, ESPN’s senior vice president of digital and social content. Spoon will depart ESPN’s Bristol headquarters to step in as chief operating officer at BetMGM, the New Jersey-based sports gambling venture owned […]

The Circa Sportsbook opened on Wednesday, and is billed as one of the largest facilities in the world. (Image: Tony Paul)

Circa Sportsbook Grand Opening: See Las Vegas’ New High-Tech Betting Palace

Circa Sportsbook opened Wednesday with the goal of being the biggest facility in the world, and owner Derek Stevens certainly believes he has accomplished that objective. The avid sports bettor has reinvented downtown Las Vegas with his new facility. The Circa Sportsbook spans three stories and has a 78-million pixel […]

Derby City Gaming HHR machines in Louisville played their parts in fueling a $2.26 billion industry benefiting Kentucky racing and breeding. (Image: WDRB.com)

Kentucky Horse Racing Industry Goes on Offensive for HHR Machines

The Kentucky Thoroughbred Association petitioned to file an amicus brief this week, seeking a return of the historical horse racing (HHR) machines recently outlawed by the Kentucky Supreme Court. The petition comes on the heels of an amicus brief filed last week by the Kentucky Chamber of Commerce illustrating the […]

At least one bettor scored big when World Chess Champion Magnus Carlsen lost to Jan-Krzysztof Duda in Round 5 of Norway Chess. (Image: Lennart Ootes/Altibox Norway Chess)

Chess Betting Flourishes Alongside Online Events During COVID-19 Pandemic

When Jan-Krzysztof Duda defeated World Chess Champion Magnus Carlsen in the fifth round of the Altibox Norway Chess tournament on Oct. 10, it caused a sensation in the chess world. The victory ended Carlsen’s 125-game unbeaten run in classical play, the longest known streak in chess history. The result also […]

Undefeated Nadal Heading to Japan to Begin His Stallion Career

Undefeated 3-year-old multiple stakes winner Nadal will head to Japan for his stud career, Japanese breeding farm Shadai Stallion Station announced Wednesday. The announcement ended speculation on where the $700,000 Blame progeny would stand after his once-promising racing career prematurely ended in May. The one-time Kentucky Derby points leader, Nadal […]

Red Sox and Liverpool Could Go Public in SPAC Acquisition

Red Sox and Liverpool Could Go Public in SPAC Acquisition

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 […]

The playful Into Mischief is all business in the breeding shed. The sire of Kentucky Derby champion Authentic will command a $225,000 stud fee in 2021. (Image: Coyle Photo/Spendthrift Farm)

The Stud of Studs: Into Mischief’s Fee Raised to $225,000

One of the many byproducts of Authentic’s Kentucky Derby win came this week when Spendthrift Farm increased Into Mischief’s stud fee to $225,000 for the 2021 breeding season. The sire of Authentic, Into Mischief’s 2020 published stud fee was $175,000. To give you an idea of how sizzling hot Into […]

Authentic and John Velazquez's Kentucky Derby stretch duel with Tiz the Law came in front of an empty Churchill Downs. Yet, a September Derby boosted the month's and quarter's racing handle. (Image: Horsephotos/Getty)

September Derby Brings Bettors, Handle Boost to Racing Economic Totals

A September Kentucky Derby produced stronger third-quarter numbers in 2020 vs. 2019, according to the Equibase Economic Indicators in Thoroughbred Racing. Horseplayers wagered more than $3.2 billion in the third quarter. That represents a 12.7% bump from 2019’s figures of $2.92 billion. At the same time, America’s most wagered upon […]

Kentucky Downs Director of Marketing John Wholihan plays one of the facility's HHR machines. One type of machine was ruled illegal in a state Supreme Court ruling. (Image: Grace Ramey/Bowling Green Daily News)

Kentucky Supreme Court Rules Against Purse-Fueling HHR Machines

While horseplayers and horse connections from Santa Anita to Belmont Park were prepping for a huge weekend of stakes races, a decision by the Kentucky Supreme Court ruled some historical horse racing (HHR) machines are illegal, sending a chill through Kentucky racing. A chill that depressed Churchill Downs Inc. stock […]

Caesars Entertainment already owns 20 percent of William Hill US, but Apollo may have more cash. (Image: Robert Alexander/Getty)

Both Apollo and Caesars Revealed as Potential William Hill Buyers

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 […]

(Image: Bill Kostroun/AP)

SPACs: How to Own a Sports Team Without Being a Billionaire

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 […]

Caesars already owns 20% of William Hill US.

Activist Hedge Fund Investor Could Push for William Hill Sale

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 […]

The New York Giants are making DraftKings their official sports betting and daily fantasy sports partner. (Image: Robert Deutsch/USA Today Sports)

DraftKings Adds Another Betting Partner, Signs Exclusive Deal with New York Giants

DraftKings continued a busy week of deal-making on Wednesday, as the company announced a sports betting partnership with the New York Giants. Under the agreement, DraftKings becomes the official sports betting and daily fantasy sports partner of the Giants. DraftKings Expanding Pro Sports Presence The announcement comes just two days […]

New Jersey sportsbooks set a new monthly high for betting handle in the United States during August. (Image: Todd Prince/Las Vegas Review-Journal)

New Jersey Sportsbooks Set National Revenue Record with $66.7M August Haul

New Jersey sportsbooks took advantage of a loaded August schedule by collecting $667.9 million in bets during the month, setting a new all-time high for any state with legalized sports betting. Nevada set the previous record last November when its sportsbooks took $614.1 million in bets. New Jersey set its […]

ESPN extended its partnership with Caesars, which already included a studio at the LINQ in Las Vegas. (Image: Al Powers/ESPN)(Photo by Al Powers / ESPN Images)

ESPN Inks Deals with Caesars, DraftKings to Bolster Sports Betting Credentials

ESPN announced Monday that it reached separate, co-exclusive deals with Caesars Entertainment and DraftKings, both of which are designed to expand the sports media giant’s exposure to the sports betting industry. Under the agreements, Caesars will become ESPN’s exclusive odds partner while DraftKings becomes its exclusive daily fantasy sports provider. […]

Keeneland played host to the Breeders' Cup World Championships for the first time in 2015. It gets the 2022 Breeders' Cup along with this year's event Oct. 6-7. (Image: John Snell/Team Coyle)

Keeneland Gets 2022 Consolation After Breeders’ Cup Goes Fan-Free

The Breeders’ Cup became the latest major racing event going spectator-free, announcing it will go without fans for its upcoming event, Nov. 6-7 at Keeneland in Lexington, KY. At the same time, the Breeders’ Cup announced Keeneland will play host to the 2022 event. This means that all four major […]

Twenty years after the release of NSYNC's No Strings attached, Justin Timberlake (center) joins new group focused on bringing MLB to Nashville (Image: Time Roney/Getty)

Justin Timberlake Joins Group Luring MLB Team to Nashville

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. […]

Midnight Bisou's stellar career is dotted with victories, such as this one in the 2019 Grade 1 Ogden Phipps. She is one of four champion mares headed for Fasig-Tipton's November Sale. (Image: Joe Labozzetta/NYRA)

Midnight Bisou, Monomoy Girl Headline Fasig-Tipton’s November Sale

Four of the greatest distaff horses of the last five years go on the auction block this November when the owners of Monomoy Girl, Midnight Bisou, Uni, and Rushing Fall put their prize mares up for sale at the Fasig-Tipton November Sale. Held at Keeneland on Nov. 8, Fasig-Tipton’s November […]

The University of Colorado signed a five-year partnership with sports betting operator PointsBet, the first for a Power 5 conference school. (Image: Cliff Grassmick/Boulder Daily Camera)(photo by Cliff Grassmick/Staff Photographer)

University of Colorado Signs Five-Year Sponsorship Deal with PointsBet

The University of Colorado has entered into a five-year partnership with online sports betting operator PointsBet, marking one of the first deals between a major college athletics department and a gambling firm. Under the agreement, PointsBet will display signage at Colorado’s football stadium and basketball arena, and will place ads […]