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NEW YORK, June 6 (Reuters) - Subway reached an agreement with a master franchisee to open nearly 4,000 new sandwich shops across mainland China over the next 20 years, it said on Tuesday. Other companies are also beefing up their presence in China, including Starbucks, which plans to open 3,000 new stores there by 2025. Subway's deal with master franchisee Shanghai Fu-Rui-Shi Corporate Development Co Ltd (FRS) is the largest such agreement in Subway's history. FRS will get exclusive rights to manage and develop all Subway locations in China. "China is a key market with significant long-term growth opportunity, and we look forward to bringing the Subway experience to even more guests in the region," Subway Chief Executive John Chidsey said in a statement.

Persons: John Chidsey, Hilary Russ, Lincoln Organizations: YORK, Starbucks, Shanghai Fu, Corporate Development Co, Asia Investment Capital, Thomson Locations: China, U.S

That month, it announced five new agreements with multi-unit operators to condense and transfer more than 230 existing restaurants. "There is strong interest in growth opportunities with Subway from multi-unit operators," Subway said in a statement to Reuters for this story. Klein, the franchise attorney, said that since 2022, his firm examined three multi-unit Subway deals on behalf of clients interested in investing in the chain for the first time. Of the 100 largest multi-unit U.S. restaurant franchisees by revenue in 2022, none had a Subway in their portfolio, according to a ranking by Franchise Times magazine. Instead, top franchisees owned hundreds of Wendy's (WEN.O), Yum Brands' (YUM.N) Pizza Hut and Taco Bell, Restaurant Brands' Burger King, Dine Brands' (DIN.N) Applebee's and other chains.

Persons: Justin Klein, John Gordon, Klein, it's, Gordon, Burger, Alicia Miller, Hilary Russ, Matthew Lewis Organizations: YORK, Subway, Reuters, QSR Magazine, Restaurant Brands International Inc, Times, Yum Brands, Bell, Restaurant Brands, Catalyst Insight, Thomson Locations: United States, U.S, Miami, Jersey, New York, Nevada, New Mexico

☆ Betting expert talks how to make the most of the upcoming NBA and NHL finals
▼ + stars: | 2023-06-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBetting expert talks how to make the most of the upcoming NBA and NHL finalsKelly Stewart, Barstool Sports betting analyst, joins 'Last Call' to discuss how to make the most out of your money in the upcoming NHL and NBA finals.

Persons: Kelly Stewart Organizations: NBA, NHL, Barstool Sports

☆ DraftKings and FanDuel are dominating sports betting
▼ + stars: | 2023-05-31 | by ( Contessa Brewer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDraftKings and FanDuel are dominating sports bettingCNBC's Contessa Brewer joins 'Squawk on the Street' to report on DraftKings' outperformance and dominance in the sports betting sector.

Persons: Contessa Brewer

Sandra Douglass Morgan has seen a lot of changes in the five years since she was named to the Nevada Gaming Commission. The same year she became a gaming regulator, the Supreme Court cleared the path for legalized sports betting. During that time, Douglass Morgan went from gaming regulator to chair of the Nevada Gaming Control Board to the corporate board of directors for casino giant Caesars Entertainment . I'm incredibly blessed that I've been given these opportunities, you know, based on my skill set and my experience," Douglass Morgan told CNBC. Douglass Morgan said.

☆ Stocks making the biggest premarket moves: Apple, Meta, Micron, PacWest and more
▼ + stars: | 2023-05-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading:Apple — Shares of the iPhone maker fell about 1% premarket after Loop Capital downgraded Apple's stock to hold from buy. Nike , Foot Locker — Shares of Nike and Foot Locker declined 1.5% and 2.4%, respectively, in premarket trading. Foot Locker missed on the top and bottom lines in its first fiscal quarter, and lowered its guidance. UBS upgraded shares to a buy from neutral rating, saying that expansion into new markets should fuel growth. Norfolk Southern , CSX — Shares of the railroads added 1.8% and 1.5%, respectively, in premarket trading.

☆ Here are Monday's biggest analyst calls: Apple, Nvidia, Amazon, DraftKings, Nike, Snowflake & more
▼ + stars: | 2023-05-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Piper Sandler names Microsoft, Snowflake and Oracle top AI picks Piper said that Microsoft, Snowflake and Oracle are the next "all-stars" in AI. Citi adds a negative catalyst watch on Nike Citi said Foot Locker's negative earnings report last week does not portend well for Nike. Citi downgrades Foot Locker to neutral from buy Citi downgraded Foot Locker after its disappointing earnings report last week and says shares are not fully de-risked. Deutsche Bank reiterates Snowflake as buy Deutsche says it's "constructive" heading into Snowflake earnings on Wednesday. Bank of America reiterates Alphabet as buy Bank of America says the internet search giant is "well positioned for mobile."

In this photo illustration, the American daily fantasy sports contest and sports betting company DraftKings logo is displayed on a smartphone screen. Law enforcement authorities searched Garrison's home in Wisconsin on Feb. 23, and recovered his computer and cellphone, according to the complaint. The messages included ones where Garrison wrote, "fraud is fun . CNBC also found the same images on a website that purportedly sells compromised accounts on DraftKings and Fanduel, among others. Garrison is charged with conspiracy to commit computer intrusions, unauthorized access to a protected computer to further intended fraud, unauthorized access to a protected computer, wire fraud conspiracy, wire fraud and aggravated identity theft.

☆ Fanatics' first big sports-betting acquisition could reignite M&A in the sector, as rumors fly and buyers 'smell blood in the water'
▼ + stars: | 2023-05-18 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +7 min

Fanatics' first big sports-betting acquisition could be the spark that reignites M&A in the sector. Industry insiders speculate on what deals could come next. It's go time for M&A in sports betting as newcomer Fanatics makes its first big acquisition in the sector and rumors fly about who will be snapped up next. On Sunday, Australia's PointsBet announced it had agreed to sell its US operations to Fanatics' betting and gaming division for about $150 million in cash. "I think Fanatics smells blood in the water," said one industry consultant who had been following Fanatics closely.

☆ European gambling company Entain is nearing a deal to buy a sports pricing and analytics firm for about $200 million, sources say
▼ + stars: | 2023-05-18 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +2 min

Entain is nearing a deal to buy pricing and analytics company Angstrom Sports, sources say. Pricing and analytics companies are attracting M&A buzz in sports betting. European gambling operator Entain is nearing a deal to buy the London-based pricing and analytics company Angstrom Sports, three people familiar with the discussions told Insider. The deal could be worth around $200 million, though the terms have not yet been agreed upon, the people said. Pricing and analytics companies are among several smaller pockets of the sports-betting industry where M&A is heating up.

BRASILIA, May 16 (Reuters) - Brazil's Finance Ministry is preparing a new set of initiatives to increase tax revenue, including a review of deductions and exemptions for income tax on individuals, according to three sources familiar with the matter. Previous administrations have tried - and failed - to restrict income tax deductions, which allow taxpayers to use proof of certain expenses, such as medical and educational costs, to reduce their tax bills. The government estimates it is set to lose 51.1 billion reais ($10.2 billion) from exemptions, along with 31.3 billion reais from deductions in its 2024 budget bill. The finance ministry's revenue chief Robinson Barreirinhas said last month that the government was working on additional revenue measures to be announced in the second half of this year. He mentioned "very solid and consistent" studies regarding the potential to boost annual revenue by 155 billion reais as a result of combined efforts.

☆ A pair of sports betting deals has the gaming industry asking, 'Who's next?'
▼ + stars: | 2023-05-15 | by ( Contessa Brewer | ) www.cnbc.com time to read: +1 min

Fanatics' splashy $150 million acquisition of PointsBet's U.S. business wasn't the only deal in gambling in recent days — and it could be a sign of more to come. Fanatics on Sunday announced it has agreed to buy PointsBet's U.S. assets, a long-rumored tie-up. Fanatics CEO Michael Rubin previously vowed to launch sports betting operations in every state where it's legal, except New York. For Fanatics, the deal really pays off when it comes to upfront licensing fees it would need to pay in new states. "We're really able to save tens of millions of dollars worth of upfront license fees by leveraging PointsBets footprint versus going at it with a new footprint," said Matt King, Fanatics CEO of Betting and Gaming, on Monday.

PointsBet forecast a loss of between $77 million and $82 million for the second half of the year. "This is a 10-year journey," Matt King, the CEO of Fanatics Betting, said at the SBC Conference earlier this month. You can kind of move slower, slightly slower today, in order to move fast later." Fanatics owns commerce assets, a sports trading card business, and is building out a sports betting division. The company acquired legendary trading card company Topps for $500 million last year.

☆ DraftKings CEO Jason Robins joins Jim Cramer after quarterly earnings beat
▼ + stars: | 2023-05-05 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

DraftKings CEO Jason Robins joins Jim Cramer after quarterly earnings beat'Mad Money' host Jim Cramer sits down with DraftKings Chairman and CEO Jason Robins to talk the state of sports betting, its quarterly earnings beat, and more.

☆ Stocks making the biggest moves premarket: Cigna, Apple, DraftKings, Lyft & more
▼ + stars: | 2023-05-05 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves premarket:Cigna — Cigna gained 3% in premarket trading after beating top- and bottom-line estimates for its latest quarter and raising its full-year forecast. Apple — Apple rose 2.7% in premarket trading after beating quarterly earnings and revenue estimates, with particularly upbeat results for its flagship iPhone. Bumble — Bumble posted higher than expected quarterly sales, as user demand for its dating app remained strong. Expedia did see its highest-ever first quarter revenue, in addition to a 20% leap in gross bookings. Coinbase — Coinbase posted better than expected quarterly results, leading to a 8.1% premarket rally for the cryptocurrency exchange's stock.

☆ Flutter Q1 revenues jump 29% as U.S. races ahead, UK bounces back
▼ + stars: | 2023-05-03 | by ( Padraic Halpin | ) www.reuters.com time to read: +2 min

Led by its Fanduel brand, Flutter maintained its leading 50% share of the U.S. sports betting market after revenue jumped 92% year-on-year on a constant currency basis. UKI revenue had fallen sharply in the same period last year, partly due to the impact of measures to curb gambling addiction. Chief Executive Peter Jackson put about half the growth down to product improvements and said competitors belatedly adopting safer gambling measures may also have helped Flutter outperform the market, which he estimated was flat year-on-year. Revenue also rose 69% on a constant currency basis in its international division, where Flutter said the recently acquired Italian gaming operator Sisal performed exceptionally well. The Dublin-based firm forecast in November that Fanduel's revenue would jump to around $15 billion over the long term - twice Flutter's entire revenue last year.

May 2 (Reuters) - Starbucks Corp (SBUX.O) beat Wall Street estimates on Tuesday for quarterly profits and comparable sales, powered by a sharp recovery in business in China and steady demand for its coffees and cold drinks in North America. Even so, some analysts expected China sales to remain in the red after tumbling 29% the previous quarter. Instead, the world's largest coffeehouse chain posted a 3% rise in China comparable sales in its second quarter ended April 2, boosting the company's international sales 7%, more than double the 2.94% increase of the average analyst's estimate, according to Refinitiv data. Globally, the Seattle-based chain's comparable sales climbed 11%, trouncing analysts' expectation of a 7.36% rise. Excluding one-time items, Starbucks earned 74 cents per share, beating estimates of 65 cents.

☆ Players union warns agents over mobile betting apps in memo
▼ + stars: | 2023-05-02 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

NEW YORK, May 2 (Reuters) - The National Football League Players Association (NFLPA) has sounded the alarm about the use of sports betting apps, warning agents that the mobile gambling platforms can track their clients' activity, leading to stiff penalties. "We have confirmed that some states monitor/audit FanDuel and the other gambling apps to ensure that the companies are in compliance with state law," the NFLPA said in a memo on Monday seen by Reuters. It was as part of that monitoring that the NFL learned of the players using the apps at work in violation of NFL rules," it said. In March, Jacksonville Jaguars wide receiver Calvin Ridley was reinstated after serving one year of an indefinite suspension for violating NFL rules on gambling. "At no time should players open or use any mobile gambling app while at work."

NEW YORK, May 1 (Reuters) - Subway, which is exploring a potential $10 billion sale, further shrank last year in the United States as franchisees closed 2.7% of the brand's sandwich shops, squeezing its royalties and fees. The chain shed another net 571 locations in 2022 after even steeper closings in previous years in the United States, its largest global market, according to the latest disclosure document it provides to franchisees who are interested in buying locations. Subway has closed thousands of U.S. locations in recent years due to over-expansion, outdated operations and decor, stale menus and $5 footlong deals that eroded franchisees' profits. Subway franchisees closed more than 1,000 net U.S. locations in 2021 and 1,609 in 2020. At the end of 2022, Subway had 20,576 shops in the United States.

☆ Fanatics moves one step closer to IPO, hiring Meta's head of investor relations
▼ + stars: | 2023-04-27 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

While an IPO is not on the immediate horizon, the company is taking a step in the direction of preparing for one, hiring Meta's investor relations head to further build out its engagement with current and future shareholders. Deborah Crawford, who has served as Meta 's vice president of investor relations for more than eight years, is being appointed as Fanatics' head of investor relations, a new position at the company. Prior to Meta, Crawford was head of investor relations for Netflix, where she helped initiate the streaming company's first formal investor relations function, according to Fanatics. Schiffman declined to comment on the potential timing of a Fanatics IPO but confirmed the company has a goal of going public. Fanatics has seen its valuation and investor roster drastically expand in recent years, which has also helped to fuel IPO chatter.

☆ NBA, NBPA ratify new collective bargaining agreement
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 - The NBA Board of Governors and NBA players ratified the new Collective Bargaining Agreement on Wednesday, a seven-year deal that will start on July 1 and run through the 2029-30 season. It features a number of major changes, including an in-season tournament where players on the winning team would each earn $500,000. Despite the plethora of changes, the CBA still requires players to be at least 19 years old to enter the league. But the sides never reached an agreement on that, keeping the "one-and-done" rule in place. Had the sides not reached an agreement on the CBA earlier this month, either party could have decided to opt out of the current agreement, which would have caused the first major NBA work stoppage since the 2011-12 season.

April 25 (Reuters) - Chipotle Mexican Grill Inc (CMG.N) topped Wall Street expectations for first-quarter profits and sales on Tuesday, helped by higher menu prices, 41 new restaurant openings and some recovery among lower-income customers. The company said it expects second quarter and full year comparable sales growth in the mid-to-high single digits. Even with inflation squeezing household budgets, restaurant chains are expected to post higher sales growth in the first quarter. Comparable sales at California-based Chipotle jumped about 11% in the first quarter, while analysts on average expected an 8.6% rise, according to Refinitiv data. Inflation in the second half is "really a wild card," Chief Financial Officer Jack Hartung said on the earnings call.

rushed to embrace a lucrative line of business it had denounced for decades as bad for the sport. The league on Friday handed down some of the strictest penalties it has ever issued, banning three players for at least the 2023 season for betting on N.F.L. games and suspending two others for six games for other violations of the league’s betting policy. The scale of the latest scandal and the terse verdict from the league rekindles questions about the precarious line the N.F.L. This week’s investigation ended with two more Lions players, receivers Stanley Berryhill and Jameson Williams, suspended for six games for lesser gambling violations that did not include betting on N.F.L.

☆ NFL Suspends Five Players for Sports Gambling
▼ + stars: | 2023-04-21 | by ( Andrew Beaton | ) www.wsj.com time to read: 1 min

Detroit Lions wide receiver Jameson Williams was a first-round pick in 2022. Photo: Paul Sancya/Associated PressThe NFL has suspended five players, including four on the Detroit Lions, for violating the league’s gambling policy in the league’s biggest crackdown since the widespread proliferation of legal sports betting across the U.S.Three players—the Lions’ Quintez Cephus and C.J. Moore, along with Shaka Toney of the Washington Commanders—were suspended indefinitely, through at least 2023, for betting on NFL games this past season. Detroit released Cephus and Moore when their suspensions were announced.

☆ Top pro leagues, media outlets team up to combat problematic sports-betting ads
▼ + stars: | 2023-04-19 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

The nation's top professional leagues are teaming up with some TV broadcasters to tackle irresponsible sports-betting advertising. The NFL, NBA, NHL, MLB, WNBA, NASCAR, and MLS have joined media companies NBCUniversal and Fox to form The Coalition for Responsible Sports Betting Advertising. The coalition, led by NFL vice president of public policy and government affairs, Jonathan Nabavi, aims to regulate sports-betting advertising as it floods television, internet and print media. The move comes as sports betting becomes legal in more states and opponents worry its advertising targets minors. The National Council on Problem Gambling has commended the coalition and promised to work in collaboration with it to "better mitigate problem gambling related harm."

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