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High-net-worth sports fans can now invest in an index of companies tied to their favorite league. AdvertisementSports fans with money to spare can now reap returns from their favorite leagues thanks to a new investment offering from Morgan Stanley. The Parametric Custom Core Sports League strategy is a portfolio that allows high-net-worth fans to invest a minimum of $250,000 in an index of companies tied to major sports leagues. The offering involves 13 of the biggest sports leagues, from the NFL and NBA to the US Open and Formula 1. Last year, Goldman Sachs unveiled a new unit of dealmakers to pitch investments in teams and stadiums to wealthy clients.
Persons: Morgan Stanley, , Sandra Richards, Morgan Stanley's, Richards, Marc Lasry, Steve Cohen, Goldman Sachs Organizations: Wall, Service, League, NFL, NBA, US, Women's, Morgan Stanley's Global Sports, Entertainment Division, CNBC, Nielsen Sports, Sports, PGA, Yankees, Citi, JPMorgan
Betting markets are booming ahead of the US Presidential election. Kalshi has attracted $100M in election bets this month and is the top free finance app in Apple's app store. Robinhood is getting in on the action, announcing its own election betting platform on Monday. Earlier this month, a US federal appeals court cleared Kalshi to open its election betting platform for US citizens. Interactive Brokers also launched a slew of election betting contracts earlier this month following the court decision to allow Kalshi to operate.
Persons: Kalshi, , we're gunning, Tarek Mansour, it's, Donald Trump, Mansour, TikTok Organizations: Service, Apple, PayPal, CNBC, Interactive, Kalshi
The space has exploded in the US as dozens of states have legalized online gambling. Just as quant traders have changed equity markets forever, sports betting might be next. AdvertisementThrough the second quarter of this year, online gambling site FanDuel averaged 3.3 million bettors each month. AdvertisementAlready, the smartest Novig users are sanding away the easiest returns. There's demand from Novig users for the exchange to release software that would allow traders to program a bot to trade for them.
Persons: , Ed Thorp, Jim Simons, Ken Griffin, AQR's Cliff Asness, PDT's Peter Muller, Bill Bentley, Kelechi Ukah, Jacek Dmochowski, Paddy, Dmochowski, Jane, Ukah, sportsbooks Organizations: Service, Renaissance Technologies, MIT, Business, City College of New, Sports, UCLA, Paddy Power, MGM Locations: Dublin, City College of New York, Vegas
The Dodgers and Yankees will face off in the MLB 2024 World Series. AdvertisementWhen the Dodgers and Yankees take the field to battle it out for the 120th World Series championship, the players won't be the only ones with trophies on the line. The financier is worth $6 billion, according to Forbes. Now, the team is owned by George's kids, Hank Steinbrenner, Jessica Steinbrenner, Hal Steinbrenner, and Jennifer Steinbrenner Swindal. Related storiesThe bulk of the Steinbrenners' fortune is tied up in the Yankees, which is MLB's most valuable franchise, worth $7.93 billion, according to Sportico.
Persons: Mark Walter, Steinbrenner, , Walter, Magic Johnson, Stan Kasten, I'm, Johnson, George Steinbrenner, Hank Steinbrenner, Jessica Steinbrenner, Hal Steinbrenner, Jennifer Steinbrenner Swindal, Forbes, I've, Marc Lasry, Sportico, Banks, Goldman Sachs, Ivo Voynov Organizations: Dodgers, Yankees, Sports, Service, Guggenheim Partners, Forbes, Atlanta Braves, Los Angeles, MLB, Los Angeles Times, CBS, franchise's YES, Major League Soccer's New, Major League Soccer's New York City FC, Legends Hospitality, Italian soccer, AC Milan, Professional, Yankee, Milwaukee Bucks, Citi Private Bank Locations: Major League Soccer's New York, Italian
A World Series matchup for the ages is set to begin. The teams haven’t met in the World Series since 1981, and there are a host of other benchmarks that make this series extra exciting. Sports reporter Rohan Nadkarni explains the significance of this year’s Fall Classic and what to watch for:⚾ What makes the 2024 World Series so exciting? “Nevada” by YoungBoy Never Broke AgainRead more about the 2024 World Series. The report coincidentally comes on the eve of the World Series, one of the biggest sporting events in the U.S.
Persons: Donald Trump, Trump, Chelsea Stahl, Jeff Vega, Brandy Zadrozny, ➡️ Trump, Hitler, Jack Smith, Gen, Harris, Kamala Harris, Barack Obama, Bruce Springsteen, Beyoncé, ➡️ Harris, Harris ’, ➡️ Tim Sheehy, It’ll, Mike Johnson, , haven’t, Rohan Nadkarni, It’s, Ohtani, Aaron Judge, Mookie Betts, Freddie Freeman, Juan Soto, Giancarlo Stanton, ostseason, ames, S. Organizations: NBC, Trump, Election, Republicans, ➡️, Republican, Navy, Los Angeles Dodgers, New York Yankees, American League, National League, Dodgers, Yankees, New, Los Angeles Locations: Michigan, Wisconsin, U.S, Arizona, Nevada, Trump’s, Atlanta, Houston, Montana, New York, ely
The rise of online betting has led the commercial gambling industry to balloon worldwide, posing a significant threat to public health, according to a new report. The report, published Thursday, comes from a public health commission on gambling convened by the medical journal The Lancet. The report highlighted the role online gambling has played in the rising availability of commercial gambling as a whole. Belgium, the Netherlands and Ontario, for example, have varying restrictions on gambling advertising, including online gambling. A 2015 paper found that online gambling could lead to the emergence or aggravation of gambling problems.
Persons: “ We’re, , Louisa Degenhardt, Heather Wardle, , FanDuel, Alan Feldman, Feldman, Wardle Organizations: University of New, D.C, American Gaming Association, Pew, University of Glasgow, University of Nevada, Las Vegas, Gaming Institute, MGM, Council for Responsible Gaming Locations: University of New South Wales, Sydney, U.S, Washington, Scotland, Belgium, Netherlands, Ontario, Germany, Spain, Sweden, Norway, Massachusetts , Illinois, Virginia, Pennsylvania, Las
Hey sports fans: Harris and Trump want your voteBy Adam WollnerOctober is a sports fan's paradise. Rebecca Shabad and Peter Alexander report that Harris’ campaign launched ads Friday that will appear on websites dealing with sports news, sports betting, fantasy sports and video games, including DraftKings, Yahoo Sports and IGN. And the Harris campaign said it’s placing ads on sports talk radio and is taking advantage of major NFL, MLB and college football games. The ads end with the tag line: “Kamala is for they/them; President Trump is for you.”These efforts come amid the backdrop of a massive gender gap between the two candidates. The latest national NBC News poll shows Harris leading among women by a 14-point margin (55%-41%), while Trump is ahead with men by 16 points (56%-40%).
Persons: Adam Wollner, Kamala Harris, Donald Trump, Kristen Welker, , Harris, Trump, It’s, Rebecca Shabad, Peter Alexander, Magic Johnson, Ben Stiller, ’ ” Tim Walz, Rich, Jonathan Allen, Allan Smith, Olympia Sonnier, Ben Kamisar, Kamala, Joe Biden, won’t, don’t, Mike Pence, ” Harris, , Sen, Lindsey Graham, Josh Shapiro, alo, lea Organizations: NBC, White House, Capitol, MLB, NHL, NBA, Yahoo Sports, IGN, , Minnesota Vikings, NFL, NBC News, Voters, Republicans, House, Fox News, Pennsylvania Democratic Gov Locations: Michigan
WASHINGTON — Kamala Harris' presidential campaign is ramping up efforts to court male voters two weeks before Election Day with ads on platforms frequented by men who like fantasy sports, sports betting, sports news and video game websites. Kamala Harris is the average Joe underdog and … Ha No, this isn’t a time for jokes," he said. Since she jumped into the race, Harris has been trying to attract men to support her, but Trump continues to perform better among male voters. NBC News’ recent poll found that 56% of male registered voters support Trump, while 40% of them support Harris. According to the Harris campaign, it's also trying to break through and reach men on platforms such as TikTok and live-streaming site Twitch.
Persons: WASHINGTON — Kamala Harris, Harris, Donald Trump, Magic Johnson, Johnson, He’s, Kamala, Ben Stiller, Kamala Harris, , Trump, it's, It's Organizations: Yahoo Sports, IGN, America, NBC, Trump, MLB
Mounting geopolitical tensions and a tight presidential election may intensify market volatility in coming weeks, but high-quality growth stocks may prove a useful way for investors to hedge against any future uncertainty, according to Trivariate Research. October is a historically volatile month for stocks , and this week alone has seen the market seesaw. "It now seems the market has come full circle," Trivariate Research founder and CEO Adam Parker wrote in a recent research note to clients. "It is much easier to buy and hold growth stocks, and it requires less arrogance in predicting the unknown than it used to. Wholesale retailer Costco and hotel giant Hilton are two other growth names that Parker listed.
Persons: Adam Parker, Parker, Morgan Stanley, Eli Lilly, Lilly Organizations: Research, Dow Jones, Dow, Adobe, Wholesale, Costco, Hilton Locations: U.K, Wednesday's
As a condition of that deal, EverPass included the right to build its own commercial streaming connection for "Sunday Ticket," bypassing third-party licensing. 1) Some commercial establishments are switching to EverPass's internet product. 2) Some commercial establishments are cutting the cord on pay-TV in general. 3) Certain commercial establishments are using YouTube's "Sunday Ticket" and paying residential prices (about $500 per year) instead of the higher business rates. 3) Certain commercial establishments are using YouTube's "Sunday Ticket" and paying residential prices (about $500 per year) instead of the higher business rates.
Persons: Alex Sherman, DirecTV's, What's, EverPass, Lillian Rizzo, , Everpass, It's, Craig Kilborn, Val Ackerman, Ackerman, that's, We're, Alex, you've, they're, Jeff Shell, Tom Brady, Tom Wagner, CNBC's Michael Ozanian, Jessica Golden, Brady, He'll, Wagner, Warner, Jake Piazza, CNBC's Rizzo, Nielsen, That's, — Ian Charles, Arctos, Charles, NBC's Peacock, Christian Miller, Miller, Adam Silver doesn't, Jim Dolan, Abu, Greg Norman, Norman, Rory McIlroy, Tiger Woods, Chiney Ogwumike Organizations: CNBC, NFL, Google, YouTube, DirecTV, EverPass Media, RedBird Capital Partners, Amazon Prime, ESPN, Dish Network, Big East Conference, WNBA, Big, CNBC Sport, Skydance, Paramount Global, Shell, Paramount, Las Vegas Raiders, Knighthead, Raiders, Fox Sports, NBA, Warner Bros, Discovery, TNT, MLB, Los Angeles Dodgers, New York Mets, Mets, Revenue, League, Golden State Warriors, Boston Celtics, Philadelphia Phillies, Wall Street, Comcast, Puma, NBC News, U.S, SEC, New York Times, Sphere Entertainment, Saudi Arabia's Public Investment Fund, Sports Business, PGA, Chiney, Continent Foundation, Philadelphia Eagles, Kansas City Chiefs, Visual China, Getty, Big East Locations: Apple, New York, American, Boston , Philadelphia, Northern California, U.S, Abu Dhabi, Vegas, Queens, Africa, Newport Beach , California
ATLANTIC CITY, N.J. (AP) — New Jersey's red-hot internet gambling market set another record in September with Atlantic City's casinos and their technical and online partners winning over $208 million. “The ongoing success of internet gaming helped push Atlantic City’s total gaming revenue to its highest figure for the month of September in over a decade,” said James Plousis, chairman of the New Jersey Casino Control Commission. “For the third consecutive month, total gaming revenue surpassed $500 million. In terms of in-person winnings, Borgata won $62.4 million in September, up 15%; Hard Rock won $44.6 million, down 4.7%; Ocean won $28.4 million, down 28%; Caesars won $20.5 million, down 4.1%; Harrah's won $18.6 million, down 16.3%; Tropicana won $17.9 million, down 16.3%; Resorts won $14.3 million, down 3.9%; Bally's won $12.5 million, down 4.4%, and Golden Nugget won $11 million, down 12.5%. When internet and sports betting revenue is included, Borgata won $120.2 million, up 12%; Resorts won $106.5 million, down 3.4%; Golden Nugget won $72.8 million, up 25.8%; Hard Rock won $64.4 million, up 10.8%; Ocean won $33.9 million, down 24%; Bally's won $24.1 million, up 19.2%; Caesars won $20.6 million, down 3.4%; Harrah's won $18.7 million, down 16.6%; and Tropicana won $18.1 million, down 16%.
Persons: , James Plousis, ” Jane Bokunewicz, Lloyd Levenson, Borgata, Harrah's, Bally's, Wayne Parry Organizations: CITY, Atlantic, of Gaming Enforcement, New Jersey Casino Control, , Stockton University, Atlantic City, Ocean, Caesars, Tropicana, Resorts, Golden Nugget, Golden, Associated Press Locations: N.J, New Jersey, Atlantic City, Atlantic
More change is coming to Diamond Sports' regional sports networks. Diamond Sports said in the filing that if it is able to emerge from bankruptcy protection, FanDuel will be a "long-term naming rights partner." The new naming rights agreement would also give FanDuel the right to buy up to 5% of equity in the reorganized company and get performance warrants for up to 5% of equity. A naming rights deal was later signed with gaming company Bally's Corp . Some NBA teams that have left the regional sports networks have turned to local broadcast stations to air local games.
Persons: Diamond, FanDuel, Sinclair Organizations: Diamond Sports, Bally Sports, National Hockey League, National Basketball, NBA, NHL, Fox Corp, Disney, Fox Sports, Bally's Corp, Sinclair, Major League Baseball, MLB, Atlanta Braves, San Diego Padres, Arizona Diamondbacks, Milwaukee Brewers, Cleveland Guardians, Minnesota Twins, Dallas Stars, Anaheim Ducks, Parent Locations: Canada
Investors should snatch up shares of Flutter Entertainment following a recent sell-off, according to Wells Fargo. Analyst Daniel Politzer upgraded shares of the online sports betting company to overweight from equal weight. The change comes after the stock sold off 8.8% on Friday following reports that the U.K. is weighing higher taxes on the gambling industry. Wells Fargo isn't the only firm turning more bullish on Flutter. "Despite similar-to-better business and financial characteristics, Flutter trades at a 35% discount to its "new peers", highlighting strong re-rating potential."
Persons: Daniel Politzer, Politzer, Wells, Adrien de Saint Hilaire Organizations: of America Locations: Wells Fargo, U.S, Friday's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA New York Subway World Series could mean $35 million in added revenueCNBC’s Mike Ozanian, joins 'Power Lunch' to discuss the impact on sports betting a potential MLB New York World Series could have.
Persons: Mike Ozanian Organizations: York
Charania begins his ESPN TV work today. "It's definitely going to be a lot of TV," Charania said. They worked together at Yahoo Sports before becoming rivals, only for Charania to eventually take over for Wojnarowski at ESPN. Charania begins his ESPN TV work today. "It's definitely going to be a lot of TV," Charania said.
Persons: Alex Sherman, Shams, Adrian Wojnarowski, Charania, FanDuel, Jimmy Pitaro, It's, Pat McAfee, Wojnarowski, I'm, Jim Rome, I've, he's, that's, He'll, I'd, Adam Silver, Bob Kraft, Jessica Berman, CNBC's Jessica Golden, Craig Kilborn, Colin Neville, Jim Ratcliffe, Joe Tsai, Colin, Neville, dealmaking, We've, CNBC's Contessa Brewer, Jim Allen, Adam Greenblatt, isn't, Tiger Woods, Tigeraire, Woods, CNBC's Lillian Rizzo, Rudy, Rudy Ruettiger, Kevin Mayer, Tom Staggs, Read, Yahoo's Ross Dellenger, we've, Woody Johnson, Woody Johnson —, Johnson, Robert Saleh, Derek Jeter, Shams Charania, Raine Organizations: CNBC, ESPN, FanDuel TV, The, ESPN TV, Worldwide, Sports, NBA, Yahoo Sports, Wojnarowski, Yahoo, I'm, NFL, Miami Dolphins, Buffalo Bills, Los Angeles Chargers, Dolphins, New England Patriots, National Women's Soccer League, Chelsea Football Club, Manchester United, Brooklyn Nets, Premier Lacrosse League, Youth, NCAA, UFC, CNBC Sport, Rock, Seminole Gaming, U.S . Patent, Sun, QVC, Notre Dame, Disney, Candle Media, SEC, Big Ten, ACC, Jets, Apple, Hollywood, Diamond Sports Group, Bally Sports, Wildcats, College Football, Sinclair, Raine Group Locations: Raine, DraftKings, U.S, Las Vegas, Florida, Tigeraire, Northwestern
Hard Rock has the monopoly on sports betting in the state, winning the exclusive tribal gaming compact following a hard-fought battle against Flutter -owned FanDuel, DraftKings and Penn Entertainment. When asked about comments made by FanDuel CEO Amy Howe on trying again to get into the Florida market, Hard Rock International Chairman and Seminole Gaming CEO Jim Allen said he's open to it. FanDuel and DraftKings declined to comment on the possibility of entering into a deal with Hard Rock. Last December at Seminole Hard Rock, the company marked what it called "a new chapter in Florida gaming," when it launched sports betting and expanded the casino table games across six Seminole Casinos in Florida. Allen declined to give specifics on sports gaming revenue in Florida on the basis that the tribe is a sovereign nation.
Persons: Hard, Amy Howe, Jim Allen, we've, Allen, he's, Howe, she's Organizations: Penn Entertainment, Rock, Seminole Gaming, CNBC, Global, Hard, Sunshine State, American Gaming Association, Division, Seminole, Seminole Casinos Locations: DraftKings, Florida, Las Vegas, California, New York
In 2024, the small-cap benchmark Russell 2000 's 8% rise still lags the S & P 500's roughly 19% gain. However, Oppenheimer thinks there is further upside ahead for these names. The stock offers a 5% dividend yield and healthy — albeit "lumpy" — free cash flow growth, the analyst added. CCOI YTD mountain Cogent Communications in 2024 Health-care services stock Chemed is another one of Oppenheimer's favorites. The online sports-betting (OSB) data provider could surge more than 37%, based on the $10 price target Oppenheimer holds on shares.
Persons: Oppenheimer, Russell, Timothy Horan, " Horan, Horan, Chemed, Michael Wiederhorn, Wiederhorn, Jed Kelly, — CNBC's Michael Bloom Organizations: Federal Reserve, Genius Sports, National Football League, Football, Professional
Aristocrat Gaming CEO Hector Fernandez told CNBC that digital opportunities are key to the company's future — as is ensuring its intellectual property is protected. The District Court of Nevada agreed and issued a preliminary injunction against Light & Wonder in late September. Light & Wonder said it disagrees with the ruling — but dismissed one of the designers who worked on the game. Light & Wonder told CNBC it has complied with the court's order and plans to modify Dragon Train and relaunch it in the future. Fernandez also told CNBC that the company is focused on digital opportunities as part of its overall strategy.
Persons: Hector Fernandez, Fernandez, It's Organizations: CNBC, Nevada, Wonder, American Gaming Association, FanDuel Locations: Australia, United States, iGaming
But investing in the stock market should be boring rather than exciting. While some hands-on traders approach betting on the stock market similarly to betting money on sports, the truth is they should have very little in common. Compared to sports betting, investing in the stock market should be "non-adrenaline focused," Egan said. While an explosion of confetti might make trading stocks more entertaining, investing in the stock market should be boring. Historically, the average stock market return is about 10% each year.
Persons: , Dan Egan, Egan, Robinhood, doesn't, you'll, Ally Invest Organizations: Sports, Service, University of California, University of Southern, SoFi, Ally Locations: Massachusetts, Los Angeles, University of Southern California
Rose was one of baseball’s greats – a winning-obsessed sparkplug who topped MLB’s all-time hit list with 4,256 over a 24-season career. It wasn’t until 2004 that Rose publicly admitted betting on baseball and the Reds, though he denied ever betting against his own team. Sometimes, on the weekend of baseball Hall of Fame inductions in Cooperstown, New York, he also would hold autograph sessions at a nearby bookstore. While Cooperstown didn’t admit him into its Hall of Fame, the Reds got him into theirs with the commissioner’s permission. That was the perfect way to capture Rose, said Johnny Bench, the Hall of Fame catcher.
Persons: Pete Rose, League Baseball’s, Rose, , “ Charlie Hustle, , John Dowd’s, Bartlett Giamatti, he’d, ” “, Giamatti, Dowd, Rose didn’t, Murray Chass, Rob Manfred, ” Manfred, , I’m, , Peter Edward Rose, LaVerne, Harry Francis “ Pete ” Rose, ” Rose, Hank Aaron, Willie Mays, Koufax, Don, Drysdale, Marichal, Bob, Gibson, Charlie Hustle, Whitey Ford, Ray Fosse, Fosse, of Famers Joe Morgan, Johnny Bench, Tony Perez –, Ty Cobb’s, Pete Rose Jr, Pete Rose’s, Pete, Bench, Rose Jr Organizations: CNN, League, Cincinnati Reds, National Baseball Hall of Fame, Clark, Office, Medical, , Reds, Philadelphia Phillies, National League, MLB, Baseball Hall of Fame, ESPN Radio, ESPN2, , New York Times, of Fame, Yankees, Cincinnati, Major, Defense, Major League, American League, of Famers, Phillies, Montreal Expos, Ty Cobb’s Major League, San Diego Padres, Cooperstown, The Reds Locations: Nevada, ,, Cincinnati, Las Vegas, Cooperstown , New York
Oppenheimer's top stock ideas heading into October
  + stars: | 2024-09-26 | by ( Sean Conlon | ) www.cnbc.com   time to read: +4 min
This comes after all three major averages recovered from the Aug. 5 global sell-off to close out last month higher. DKNG YTD mountain DKNG, year-to-date Biotechnology stock Viking Therapeutics also made the list. The stock has already surged more than 239% this year as its experimental obesity treatment advances through clinical trials. Telecommunications stock AT & T was another best idea, with its target of $23 implying more than 6% upside. Other names that made the list include Cigna , whose target implies more than 14% upside, and chip giant Broadcom .
Persons: Oppenheimer, Goldman Sachs, Jed Kelly, DKNG, Jay Olson, NASH, Timothy Horan, Horan isn't Organizations: Nasdaq, Dow Jones, Biotechnology, Viking Therapeutics, Telecommunications, AT, JPMorgan, Broadcom
Check out the companies making headlines in midday trading: Flutter Entertainment — The sports betting stock rose more than 6% after the FanDuel parent announced a share buyback program of up to $5 billion. Hewlett Packard Enterprise — The tech stock jumped more than 5% after Barclays upgraded the firm to overweight from equal weight. KB Home reported $2.04 in earnings per share, or 2 cents short of consensus estimates, according to analysts surveyed by LSEG. Analysts had expected $1.14 in earnings per share on revenue of $176.2 million, according to FactSet. The workplace uniform company sees revenue of $10.22 billion to $10.32 billion for fiscal 2025, compared to its prior guidance of $10.16 billion to $10.31 billion.
Persons: HPE, Morgan Stanley downgrades, Adam Jonas, Ford, Bilibili, Warren Buffett's Berkshire Hathaway, Cintas, — CNBC's Sean Conlon, Yun Li, Alex Harring, Hakyung Kim, Lisa Han, Pia Singh Organizations: Hewlett Packard Enterprise, Barclays, Juniper Networks, General Motors, Ford —, JPMorgan, . Bank of America, LSEG, Trump Media & Technology Locations: Bilibili —
Check out the companies making headlines in midday trading: Hewlett Packard Enterprise — The tech hardware stock jumped 6% after Bank of America upgraded the stock to a buy rating from neutral. Shopify — The e-commerce stock advanced nearly 2% after receiving an upgrade to buy from neutral at Redburn Atlantic. AppLovin — The mobile software stock advanced about 6% following a UBS upgrade to buy from neutral. Gannett — Shares soared 16% after Citi upgraded the newspaper stock to a neutral rating from sell. GE Vernova — The energy stock rallied nearly 4% after Bank of America upgraded the stock to buy from neutral.
Persons: Marie Myers, Biden, Shopify, FanDuel, Michael McGovern, Andrew Obin, Philip Morris, — CNBC's Sean Conlon, Yun Li, Sarah Min, Samantha Subin Organizations: Hewlett Packard Enterprise, Bank of America, Microsoft, Intel, UBS, Gannett —, Citi, Gannett, GE, Vectura Group, Molex Asia Holdings, Vectura, Accenture —, Bloomberg Locations: U.S
Microsoft — Shares were up about 2% after the tech giant increased its quarterly dividend by 10.7% to 83 cents per share. Shopify — Shares of the e-commerce stock gained 2.6% after Redburn Atlantic upgraded Shopify to buy from neutral. Shopify should continue gaining market share as the U.S. social e-commerce market appears poised for explosive growth over the next few years. AppLovin — The mobile software company rose more than 2% after UBS upgraded shares to buy from neutral. Gannett — Citi upgraded the newspaper company to neutral from sell, sending shares higher by 4%.
Persons: Jefferies, Dell, AppLovin, Gannett, , Fred Imbert, Sarah Min, Sean Conlon, Michelle Fox Theobald Organizations: Microsoft, Intel, Dell Technologies, Mizuho Securities, UBS, Gannett — Citi Locations: 4Q24
Six years later, sports betting has exploded across the United States, as 38 states have legalized it. The bill addresses three key areas tied to sports betting: advertising, affordability and artificial intelligence. It would mandate gambling operators ensure customers who wager more than $1,000 can afford to do so. "The gambling industry is following a playbook developed by the tobacco industry and this is a direct threat to public health," said Richard Daynard, a law professor and president of the Public Health Advocacy Group at Northwestern. The sports betting operators, meanwhile, are fighting back and saying the industry has brought benefits.
Persons: Sen, Richard Blumenthal, Paul Tonko, Conn, Tonko, It's, Gordon Douglas, he's, Andrew Douglas, Douglas, Blumenthal, Richard Daynard, Chris Cylke, Clyke, Dina Titus, — CNBC's Contessa Brewer Organizations: U.S, Capitol, Sports, American Gaming Association, National Institutes of Health, National Council, Public Health, Northwestern, American Gaming Association's Locations: Washington ,, United States, U.S
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