Business and Commerce

Mike Smith aboard Authentic captured the July 18 Haskell Stakes in front of a largely empty Monmouth Park. But the track enjoyed record handle that sparked July's boost in racing handle. (Image: Eclipse Sportswire)

Equibase Economic Indicators Show Uptick in July Betting Handle

The Equibase Economic Indicators in Thoroughbred Racing report for July revealed another year-over-year increase in wagering, with horseplayers putting down more than $1 billion during the month. That reflects a 16.6% increase over July 2019’s numbers. This increase happened because more tracks opened up during July, most notably Saratoga and […]

FanDuel's retail casinos will be powered by IGT through 2024. (Image: FanDuel)

FanDuel Expands IGT Partnership, DraftKings Tests Lacrosse

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, […]

Bettors collected on millions in outstanding football bets when Nevada casinos – and their sportsbooks – reopened in June. (Image: Getty)

Nevada Sportsbooks Post First Loss in Seven Years as Bettors Win $483K

Nevada sportsbooks proved that the house doesn’t always win, taking a monthly loss in June for the first time since 2013. Bettors came out ahead by about $483,000 for the month, according to information released by the Nevada Gaming Control Board. Bettors Cash in on Overdue Football Tickets That marks […]

The PGA Tour announced DraftKings as its first official betting operator, expanding on their fantasy sports partnership. (Image: David Berding/USA Today Sports)

PGA Tour Signs DraftKings as First Official Betting Operator

The PGA Tour further embraced legalized sports betting on Tuesday, announcing that DraftKings will become its first official betting operator. The move strengthens the ties between the PGA Tour and DraftKings, which became the tour’s first official fantasy game as of July 2019. Golf Betting Sets Records During COVID-19 Pandemic […]

After a 22-year career in the NBA, Kevin Garnett could return as the Timberwolves' new owner.

Timberwolves for Sale, Kevin Garnett and Wilf Family Among Bidders

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 […]

(Image: Robyn Beck/Getty)

Natalie Portman, Serena Williams Among NWSL LA Team Owners

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 […]

Atlantic City's Showboat could soon be a casino again, thanks to the conditions of the Eldorado and Caeasars merger. (Image: Timothy Clary/Getty)

Eldorado Caesars Merger Gets Final Approval After Surprise Concession

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 […]

The clock is ticking for  the Wilpons, who need to sell the Mets by year end.

Rumors Have Steve Cohen Back as First Round Mets Bidder

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 […]

Tom VanMeter is one of the most prominent owner/breeders in Thoroughbred racing. He apologized Tuesday for racist comments he made on social media last week. (Image: Keeneland)

Amid Industry Heat, Noted Horseman VanMeter Apologizes for Racial Slurs

In the face of fallout from across the racing world, Tom VanMeter, a prominent Kentucky horse owner and breeder, apologized Tuesday for racist remarks he made last week on social media. A well-known figure in the Kentucky horse industry, VanMeter owns Stockplace Farm, the birthplace of 2015 Triple Crown champion […]

(Image: Brad Penner/USA Today)

June’s Racing Economic Indicators Bring Some Welcome Good News

Equibase’s monthly report on Economic Indicators in Thoroughbred Racing for June revealed the first uptick in racing handle since February, before the COVID-19 pandemic wreaked havoc on the industry. June’s uptick is slight, 0.76% over June 2019. This result is due to tracks opening or re-opening throughout June. That said, […]

Some Las Vegas bettors took advantage of incorrect starting times on some Asian baseball games Sunday, including an NC Dinos game in the KBO League. (Image: Chung Sung-Jun/Getty)

Las Vegas Bettors Exploit BetMGM Error, Score Big on Asian Baseball

On Sunday, a bettor at the Bellagio in Las Vegas cashed a 10-leg parlay on Korean and Chinese baseball games, winning $137.107.38 off a $250 bet. By Tuesday, it was apparent that the big winner was just the biggest beneficiary of a flaw in how BetMGM had listed Asian baseball […]

Under Armour is trying to weasel out of its 10-year $86 million Cal deal (Image; Cal Sports)

Under Armour Wants to Back Out of UCLA and Cal Contracts

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 […]

The NFL has announced DraftKings as its first official daily fantasy partner. (Image:  David L. Ryan/Boston Globe/Getty)

Should You Gamble on DraftKings Stock? Experts Weigh In

DraftKings quickly became a stock market darling after its initial public offering in April, with shares more than doubling in less than two months. But after the fervor dies off, will the company – known for DFS, sports betting, and it’s growing online casino division – continue to be a […]

Allen Iverson receives interview during rehearsal for 2018 Double 11 Global Shopping Festival on November 10, 2018 in Shanghai, China. (Image: Getty)

Allen Iverson’s Reebok Retirement Plan Includes a $32M Bonus in 2030

Allen Iverson officially retired from the NBA in 2013 but thanks to Reebok, he’s still receiving $800,000 a year. Better yet, the 11-time All-Star can collect another $32 million bonus from the athletic shoe company in 10 years. Iverson celebrated his 45th birthday this week. That’s the earliest age at […]

Being Heard: Natasha Cloud’s Groundbreaking Converse Deal

Being Heard: Natasha Cloud’s Groundbreaking Converse Deal

Converse has signed Natasha Cloud, the first woman basketball player to endorse its shoes. In doing so, the WNBA Mystics guard follows in the footsteps of some of basketball’s legends — from Chuck Taylor to Julius Erving. But even before the groundbreaking announcement, Cloud made headlines with an important message, […]

The Arlington Park finish line won't have some of the world's top Thoroughbred horses sprint through it this year. Track officials and Illinois horsemen can't reach an agreement on 2020 racing. (Image: John J. Kim/Chicago Tribune

Arlington Million Becomes Latest Race Casualty, but Not Because of COVID-19

The Arlington Million, Illinois’ biggest horse race of the year, is the most prominent casualty of a deadlock between Arlington Park officials and the Illinois Thoroughbred Horsemen’s Association agreeing on a new contract. The two entities came to a tentative agreement on a daily purse structure for a 30-day meet […]