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The future of ESPN's sports-betting app is now in question amid mounting losses and an activist investor push at partner Penn Entertainment that has prompted sale rumors. The app, ESPN Bet, made early strides in the first few months, gaining ground through promotions and marketing that leveraged ESPN's popular personalities. As of March, ESPN Bet had captured about 4% of the online-sports-betting market by gross gaming revenue, per Bank of America's analysis, though its share has been higher in states like Pennsylvania. "Testers liked ESPN Bet's UX and minty aesthetic but felt the app lacked depth (particularly more extensive features)," EKG wrote in May. "Product is one thing, and I would say having expertise in how to target users effectively to lower your acquisition costs and your retention costs" is key for the ESPN Bet app to compete, Wasiolek said.
Persons: , FanDuel, Dan Wasiolek, Will Wyatt, Penn's, Jay Snowden's, Boyd, Penn, ESPN Bet's, hasn't, it's, Barry Jonas, Scott Van Pelt, Stephen A . Smith, ESPN Bet, Penn doesn't, Jonas, EKG, Snowden, Wasiolek, they'll Organizations: Service, ESPN, Penn Entertainment, Business, ESPN Bet, Morningstar, Donerail Group, Barstool Sports, Penn, Reuters, Boyd Gaming, Truist Securities, Barstool, ESPN Bet's, NFL, Management Locations: Barstool, Penn, Pennsylvania, Eilers
Goldman Sachs initiated coverage of Disney with a buy rating and a price target that implies more than 20% upside. Elsewhere, Piper Sandler raised its price target on Uber, calling for nearly 25% upside. Analyst Jonna Kim simultaneously raised her price target to $30 from $28, citing a likelihood in earnings upside. As a catalyst, Kim cited "potential upside to FY24 Street estimates given solid topline momentum combined with margin expansion on continued inventory & expense management." — Lisa Kailai Han 5:41 a.m.: Goldman Sachs initiates Disney with a buy rating Disney has room for upside growth ahead, according to Goldman Sachs.
Persons: Goldman Sachs, Raymond James, Piper Sandler, TD Cowen, Jonna Kim, Kim, Lisa Kailai Han, Jeff Chung, Chung, — Lisa Kailai Han, Ranjan Sharma, Sharma, Uber, Thomas Champion's, AMZN, Michael Ng, Ng, Raymond James downgrades, RJ Milligan, Milligan, PENN, Fred Imbert Organizations: CNBC, Disney, Penn Entertainment, Navy, Citi, IHS, Volkswagen, JPMorgan, Google, Yahoo, Uber, ESPN, Netflix, Disneyland, Raymond James downgrades Penn Entertainment, NFL, Penn Locations: 2024E, 2025E, Singapore, TikTok, Indonesia, Philippines, Malaysia, Monday's
In today's big story, we're looking at how AI could completely upend venture capitalism amid a wider shakeup for the industry . The generative AI boom was a welcome change for a venture industry looking for a new trend to back (and hopefully profit from). Some of the adjustments aren't novel to the VC industry. ACME Capital; Getty Images, Chelsea Jia Feng/BIThe VC industry might be doomed with or without AI. AdvertisementScott Stanford, a cofounder and partner at early-stage VC firm ACME Capital, told BI's Blake Dodge that half of today's VC firms will shutter in the next decade .
Persons: , VCs zentilia, Jenny Chang, Rodriguez, Insider's Ben Bergman, Ben, Long, Scott Stanford, Chelsea Jia Feng, BI's Blake Dodge, Hany Nada, Jared Siskin, Bobby Jain's, Jonathan Barton, Jain, Rebecca Zisser, OpenAI, Apple, Elif, Jeff Bezos, Robert Winnett, Will Lewis, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Grace Lett, Amanda Yen Organizations: Service, Business, ACME, Getty, ACME Capital, Stanford, BI, Madison, Conservancy, Jain, EV, Ford, European, Regulators, Anadolu Agency, Getty Images, Washington, Harvard, Leagues Locations: today's, Wall, Saudi, Saudi Arabia, Europe, Brazil, Southeast Asia, London, American, Paris, New York, Chicago
While the expansion of legal sports betting has made gambling more accessible, it's also helped spot infractions like these. The MLB also said it was tipped off about Marcano's betting activity by a legal sports-betting operator, ESPN reported. There's little data available to show whether gambling violations like these occur more or less often in the age of legal gambling, in part because they weren't easily tracked before 2018. They could be college football players betting on the NFL, or NFL players betting on games their teams weren't playing in. As sports-betting continues to expand in more states and the industry evolves, there may be more gambling scandals to come.
Persons: , Jontay Porter, Tucupita Marcano, Lucas Paqueta, he's, It's, Shohei Ohtani, it's, Sara Slane, Pete Rose, sportsbooks, Matt Holt, Porter, Holt, that's, Slane, They're, Jim Brown, bettors, Brown, Sportradar, they're, IC360 Organizations: Service, NBA, Toronto Raptors, Raptors, San Diego Padres, Premier League, Football Association, Business, University of Alabama, Dodgers, Sports, Major League Baseball, MLB, ESPN, IC360, Alabama baseball, Iowa State University, Leagues, North America, NFL Locations: Slane, Ohio, sportsbooks, North, Sportradar, Colorado
While the expansion of legal sports betting has made gambling more accessible, it's also helped spot infractions like these. The MLB also said it was tipped off about Marcano's betting activity by a legal sports-betting operator, ESPN reported. "When you are operating in the dark, you have no idea what is actually happening — if refs are partaking in illegal betting or players are partaking in betting," Slane said. Many US states where sports betting is legal require gambling companies to work with a licensed independent integrity-monitoring service, like IC360 or Sportradar, to identify suspicious betting activity. They could be college football players betting on the NFL, or NFL players betting on games their teams weren't playing in.
Persons: , Jontay Porter, Tucupita Marcano, Lucas Paqueta, he's, It's, Shohei Ohtani, it's, Sara Slane, Pete Rose, sportsbooks, Matt Holt, Porter, Holt, that's, Slane, They're, Jim Brown, bettors, Brown, Sportradar, they're, IC360 Organizations: Service, NBA, Toronto Raptors, Raptors, San Diego Padres, Premier League, Football Association, Business, University of Alabama, Dodgers, Sports, Major League Baseball, MLB, ESPN, IC360, Alabama baseball, Iowa State University, Leagues, North America, NFL Locations: Slane, Ohio, sportsbooks, North, Sportradar, Colorado
Read previewSports has increasingly become the star of the show for big TV companies, and its ascent is sending a shiver down Hollywood's spine. AdvertisementSports media rights have never been more expensive, but media companies keep paying up. The number of TV shows across the industry has been declining since the 2022 end of the Peak TV era. Media companies have been aggressively pursuing other secondary sports to maintain their value to distributors and advertisers, as Warner Bros. AdvertisementRelationships with the top people in sports will likely be a bigger factor in leadership at media companies moving forward.
Persons: , Doug Shapiro, Shapiro, Seth Meyers, Spencer Wang, David Levy, — it's, Levy, it's, Jonathan Miller, WBD, Michael Kassan, Mark Lazarus, Media Group's, John Kosner, Ed Desser, Sports doesn't, David Zaslav, Alex Iosilevich Organizations: Service, NBA, Business, Turner Broadcasting, Apple, Google, Street Journal, NBC, ESPN, Amazon, Warner Bros, NFL, Comcast, Netflix, Nielsen, Turner Networks, Horizon, Entertainment, Marvel, Star, Integrated Media Co, Hollywood, Media, Warner Bros . Discovery, Sports, Cannes Lions, Turner, TNT, TBS, Premier League, WWE
Hollywood is facing a dire threat: sports
  + stars: | 2024-06-18 | by ( Lucia Moses | ) www.businessinsider.com   time to read: +9 min
AdvertisementSports media rights have never been more expensive, but media companies keep paying up. The number of TV shows across the industry has been declining since the 2022 end of the Peak TV era. Media companies have been aggressively pursuing other secondary sports to maintain their value to distributors and advertisers, as Warner Bros. All this has dire implications for entertainment budgets, which media companies have already been trimming after overspending to build streaming businesses. AdvertisementRelationships with the top people in sports will likely be a bigger factor in leadership at media companies moving forward.
Persons: , Doug Shapiro, Shapiro, Seth Meyers, Spencer Wang, David Levy, — it's, Levy, it's, Jonathan Miller, WBD, Michael Kassan, Mark Lazarus, Media Group's, John Kosner, Ed Desser, Sports doesn't, David Zaslav, Alex Iosilevich Organizations: Service, NBA, Business, Turner Broadcasting, Apple, Google, Street Journal, NBC, ESPN, Amazon, Warner Bros, NFL, Comcast, Netflix, Nielsen, Turner Networks, Horizon, Entertainment, Marvel, Star, Integrated Media Co, Hollywood, Media, Warner Bros . Discovery, Sports, Cannes Lions, Turner, TNT, TBS, Premier League, WWE
As pro athletes deal with the ramifications of betting on games, a growing number of people are also grappling with mental health issues associated with sports betting. Gambling addiction hotlines across the country have reported a huge surge in traffic in recent years. Texts and chats to the National Problem Gambling Helpline have increased around 800% since 2018 while call volume grew nearly 80%. The annual national social cost of problem gambling — including job loss and gambling-related criminal justice — amounts to around $14 billion, according to the National Council on Problem Gambling. In January, Sen. Richard Blumenthal and Rep. Andrea Salinas introduced the Gambling Addiction Recovery, Investment, and Treatment Act, which would use federal funding to treat and study problem gambling.
Persons: Tucupita, Jontay Porter, Robert Manfred, , There’s, LeBron James, , Charlie Baker —, National Collegiate Athletic Association —, Sen, Richard Blumenthal, Andrea Salinas Organizations: CNN, Major League Baseball, San Diego Padres, National Basketball Association, Toronto Raptors, MLB, US, State helplines, of Ohio, National Council, Sports, American Gaming Association, Leagues, NBA, ESPN, National Collegiate Athletic Association, Investment Locations: New Jersey, Nevada, Washington, DC, Massachusetts, Las Vegas
Major League Baseball said Friday night it has disciplined umpire Pat Hoberg for violating the league’s gambling rules, and that he is being held out of games during this season while an appeal is considered. Multiple players have been punished for gambling violations, including Tucupita Marcano, who got a lifetime ban for betting on baseball. Now, an umpire has been punished, with Hoberg becoming the only known umpire in recent history to have been disciplined for a matter related to gambling. “During this year’s Spring Training, Major League Baseball commenced an investigation regarding a potential violation of MLB’s sports betting policies by Umpire Pat Hoberg,” MLB said in a statement. AdvertisementThe most severe is that anyone found to have gambled on a baseball game they are directly tied to — “any baseball game in connection with which the bettor has a duty to perform,” as the rules formally put it — is to be banned permanently from the game.
Persons: Pat Hoberg, Tucupita Marcano, Shohei, Ippei Mizuhara, Hoberg, Glen Caplin, , ” Hoberg, “ Mr, Rob Manfred, David Fletcher, Mizuhara, Tim Donaghy, Steph Chambers Organizations: Major League Baseball, MLB, ESPN, Major League Baseball Umpires, Hoberg, North, Supreme, Baseball Locations: U.S
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewLegal sports betting is becoming more mainstream in the US, and regulators and leagues are starting to scrutinize it more closely. The industry's evolution is creating new challenges in areas like player protection, responsible gaming, and product innovation. "They're really trying to squeeze out as much profit and as much margin as they can, and it's starting to feel that way," Doctor told BI, describing what he considers one of the biggest challenges facing the industry. "When it comes to responsible gaming and responsible betting," she said.
Persons: , Tucupita Marcano, sportsbooks, Zach Doctor, They're, Joe Maloney, Ashley Cahill, Dave Foppert, DraftKings, Foppert, Christiana Yebra, Max, Yebra, we'll, Mark Nerenberg Organizations: Service, San Diego Padres, Major League Baseball, Business, PNC Bank VP, American Gaming Association, Sports, Netflix
The dominant e-commerce platform has a momentum score, measuring 12-month and one-month relative strength, of 53%, and its earnings estimates have risen 17% since the end of March. Footwear maker Deckers also made the cut, with a 73% momentum score and a 6% swing in upward earnings revisions. Sports betting stock DraftKings also appeared on the Wolfe screen, with a 73% momentum score and a 270% increase in earnings estimates since the end of March. The majority of analysts polled by LSEG have a buy rating with a price target suggesting shares can surge more than 38%. But he called those worries "overdone" while pointing to earnings upside as a catalyst for shares to continue rallying.
Persons: Chris Senyek, Russell, Joseph Civello, Wolfe, Morgan Stanley's Stephen Grambling Organizations: Wolfe Research, Wolfe, LSEG, Amazon, Truist Securities, Sports, Grambling Locations: California, Illinois
DraftKings — The sports betting stock added 1.8% after Morgan Stanley reiterated its overweight rating and said shares were again worthy of a top-pick designation. Morgan Stanley said the stock can rally despite concerns around Illinois' legalization of a sports betting tax. Nvidia — Shares were marginally lower ahead of the chipmaker stock's first day of trading after its 10-for-1 stock split . Planet Fitness — Stock in the fitness center chain advanced about 4% on the heels of an upgrade from Jefferies earlier on Monday. Analyst Randal Konik said "the stars have aligned" for Planet Fitness stock, adding that he expects strong franchise unit growth in 2025.
Persons: GoDaddy, Robert Half, Dow, Morgan Stanley, Joseph Moore, Randal Konik, — CNBC's Michelle Fox, Alex Harring, Jesse Pound Organizations: KKR, CrowdStrike, Comerica, Dow Jones, Dell Technologies, Palantir Technologies, AMD —, Nvidia —, Southwest Airlines —, Street Journal, Elliott Investment Management, Carvana, JPMorgan, Energy Global, Jefferies, Fitness Locations: Illinois
Analyst Stephen Grambling reiterated his overweight rating on shares, which he thinks should move higher based on potential earnings upside. Analyst Christopher Horvers upgraded the big-box retailer to overweight and hiked his price target by $15 to $81, which suggests 25.4% potential upside. Analyst Tom O'Malley's price target is now $145 per share, which implies 19.9% potential upside from Friday's close. Ramsey also attributed his new price target to the firm's latest data center modeling which estimates a software-based revenue breakout for Nvidia. He raised his price target to $150, which implies 40.8% upside from Friday's close.
Persons: Morgan Stanley, Stephen Grambling, Grambling, — Pia Singh, Christopher Horvers, Horvers, Tom, O'Malley, TD Cowen, Matthew Ramsey, Ramsey, Rajat Gupta, Gupta, CVNA, Joseph Moore, Moore, Fred Imbert Organizations: CNBC, Monday, JPMorgan, North America Gaming, Illinois Senate, Walmart, Nvidia, Barclays Barclays, Sovereign, Broadcom, AMD Locations: Illinois, North, IL
“But matters affecting the integrity of the game have a chilling effect across the board and governing bodies know this is their Achilles heel,” he warned. Fast forward to 2024 and the gambling industry is engrained in US sports culture with leagues, franchises, players and networks now partnering with betting organizations. “We need legislation to do things like prevent sports betting advertising, and to prevent prop betting. However, it can be often in leagues’ financial interest for betting to increase in popularity. “The sports leagues have turned to sports betting because it increases fan avidity.
Persons: Ippei Mizuhara, Shohei Ohtani, Tucupita Marcano, Jontay Porter, ” David Carter, , Paul Sancya, – it’s, Andrew Zimbalist, Zimbalist, ’ ”, , William Hill, Mike Segar, Porter, Long Phi Pham, Pham, Breon Peace, Victor Matheson, Matheson, Adam Silver, Robert D, Manfred , Jr, Wayne Gretzky, Bruce Bennett, ’ Zimbalist, LeBron James, Patrick Mahomes, Connor McDavid’s, ” Matheson, ” Carter, ” Zimbalist, CNN’s Thomas Schlachter Organizations: CNN, Los Angeles Dodgers, Major League Baseball, San Diego Padres, National Basketball Association, Toronto Raptors, NBA, USC Marshall School of Business, MGM Grand Detroit, DC, Super, American Gaming, Smith College, Monmouth, Reuters, Authorities, Supreme, College of, NFL, MLB, New York Rangers, Carolina Hurricanes, Madison, Garden, , NCAA, National Council Locations: Brooklyn, Michigan, Detroit, Washington, Oceanport , New Jersey, U.S, Porter , Brooklyn, New York City
OpenAI is facing controversy. Again.
  + stars: | 2024-06-05 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
In today's big story, we're looking at the latest controversy to embroil OpenAI amid a difficult few months for the startup . Their takeaway was simple: OpenAI wants to have it both ways regarding how it's perceived about safety and commercialization. It's structured as a "capped-profit" company governed by a nonprofit, and Altman doesn't hold equity directly in OpenAI. The result, the VC told me, is people feel OpenAI is talking out of both sides of its mouth. It doesn't help that some OpenAI employees joined when that split was closer to 80/20 and favored safety over business, they added.
Persons: , we've, OpenAI Justin Sullivan, Chelsea Jia Feng, Anthropic signees, Scarlett Johansson, Elon, Madeline Berg, Sam Altman, Altman, Justin Sullivan, OpenAI, It's, Patrick McMullan, Jenny Chang, Rodriguez, Izzy Englander's, Griffin's, Marko Kolanovic, ANDREW CABALLERO, REYNOLDS, youngs, Mark Zuckerberg, Elon Musk, Keith Enright, Alyssa Powell, They've, Shopify, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, George Glover, Annie Smith Organizations: Service, Business, Google, Millennium Management, Getty Images, Facebook, CNBC, BI, SpaceX Locations: OpenAI, Patrick, It's, Tesla, New York, London
The complaint refers to the player as “Player 1,” though after a review of court documents, CNN has determined the player is former Toronto Raptors big man Jontay Porter, who two months ago was banned for life from the NBA. As alleged, the defendant and his co-conspirators, as well as an NBA player, participated in a brazen, illegal betting scheme that had a corrupting influence on two games and numerous bets,” US Attorney Breon Peace said. Porter was banned by the NBA in mid-April, with the league saying an investigation found Porter had violated betting rules. NBA said it investigated unusual betting patterns around PorterThe NBA announced in March it had opened an investigation into anomalies involving bets pertaining to Porter after unusual betting patterns around the player emerged. Porter had “violated league rules by disclosing confidential information to sports bettors, limiting his own participation in one or more games for betting purposes, and betting on NBA games,” NBA officials said.
Persons: Long Phi Pham, Pham, Jontay Porter, Pham –, Australia –, Michael Soshnick, Porter, Breon Peace, , rico ”, Adam Silver, ” Silver Organizations: CNN, NBA, Toronto Raptors, of, rico, FBI Locations: Brooklyn, New York, Australia, Eastern, of New York
CNN —San Diego Padres infielder Tucupita Marcano has been banned for life by Major League Baseball for betting on baseball games. The MLB investigation found that 25 of those bets included Pirates games while Marcano was assigned to the Major League club. Those players are Oakland Athletics pitcher Michael Kelly, Padres minor league pitcher Jay Groome, Philadelphia Phillies minor league infielder José Rodríguez and Arizona Diamondbacks minor league pitcher Andrew Saalfrank. According to MLB rules, a player found guilty of betting on baseball games involving teams other than their own are subject to a one-year suspension. “The longstanding prohibition against betting on Major League Baseball games by those in the sport has been a bedrock principle for over a century.
Persons: Tucupita Marcano, Marcano, , Michael Kelly, Jay Groome, José Rodríguez, Andrew Saalfrank, Rob Manfred, Manfred, , Kelly, A’s, Michael, Rodríguez Organizations: CNN, San Diego Padres, Major League Baseball, MLB, Pittsburgh Pirates, Pirates, Major League, Marcano’s Pirates, Padres, Major League Baseball’s, , Players Association, Oakland Athletics, Philadelphia Phillies, Arizona Diamondbacks, “ MLB, Oakland, Phillies, Diamondbacks
Shares of Logitech are up 2% on the year and could rally another 17%, if Scemama's target price holds true. Analyst Kristine Liwag accompanied the move by raising her price target to $225 from $178. The bank reiterated its overweight rating on the credit card stock but lifted its price target to $275 from $265. International revs should run above the 10%+," the analyst added. Goldman analyst Tina Hou set a 12-month price target of $34, while Bank of America analyst Ming Hsun Lee set a price objective of $35.
Persons: Bernstein, Goldman Sachs, Goldman, TZE, Brian Lee, Lee, — Spencer Kimball, Didier Scemama, Scemama, — Lisa Kailai Han, Morgan Stanley, Kristine Liwag, Heico's, Liwag, Stanley Black, Decker, Julian Mitchell, Mitchell, Wells, Wells Fargo, Donald Fandetti, Fandetti, Canaccord, Kingsley Crane, Crane, Oppenheimer, Jed, Kelly foresees, FanDuel —, Kelly, Zeekr, Tina Hou, Ming Hsun Lee, Hou, Stacy Rasgon, Rasgon, Fred Imbert Organizations: CNBC, Broadcom, Bank of America, Investors, Technologies, Department of Energy, Logitech, Boeing, Barclays, Stanley, Nvidia, American, Express, American Express, U.S . American Express, Wall, Zeekr, China EV, China, Geely Automobile, AMD Locations: Monday's, EU, U.S, China, BofA
Bank of America reiterates Alphabet as buy Bank of America said it's sticking with its buy rating on the search giant. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's bullish heading into Apple's Worldwide Developers Conference. Morgan Stanley initiates Zeekr as overweight Morgan Stanley said it's bullish on shares of the electric vehicle company. Bank of America reiterates Nike as buy Bank of America said it's standing by its buy rating on shares of Nike. Morgan Stanley reiterates First Solar as overweight Morgan Stanley raised its price target on the stock to $331 per share from $248.
Persons: Oppenheimer, it's, JPMorgan, Morgan Stanley, Apple, Canaccord, ZEEKR, Barclays downgrades Stanley Black, Decker, Piper Sandler, Tesla, Piper, Bernstein, Wells, Guggenheim, Goldman Sachs, Goldman, MAXN, Mizuho, Linde, Williams, Columbus McKinnon Organizations: JPMorgan, Netflix, Price, Bank of America, Apple's Worldwide, " Bank of America, Nvidia, NVIDIA Corp, DraftKings Inc, Kirby Corp, FedEx Corp, Marvell Technology, Barclays, Tesla, Broadcom, Express, Logitech, UW, Autonomy, Nike, Mizuho, SUN, Kinder Morgan, Nat, Micron, Columbus Locations: OW, Kinder
Check out the companies making headlines in midday trading: Bath & Body Works — Shares of Bath & Body Works sank nearly 13% and headed for their worst day since 2021. Bath & Body Works expects earnings to range between 31 cents and 36 cents a share, behind a FactSet estimate of 38 cents in earnings per share. Saia — The freight company popped 6.7% after it posted higher less-than-truckload shipments per workday for April and May compared to a year earlier. Shares of BP and Exxon Mobil fell around 2.3% and 1.6%, respectively, while Diamondback Energy and Chevron shares fell nearly 1%. Stanley Black & Decker — The industrials stock fell about 3.7% after Barclays downgraded the stock to equal weight from overweight.
Persons: Keith Gill, Goldman Sachs, TZE, Goldman, Stanley Black, Decker, Julian Mitchell, Oppenheimer, Jed Kelly, , Samantha Subin, Michelle Fox, Yun Li, Pia Singh, Lisa Han Organizations: Body, O Cruises, Carnival Cruise, GameStop, Street, Trade, Dominion Freight, Technologies, Energy, BP, Exxon Mobil, Diamondback Energy, Chevron, Barclays
Major League Baseball permanently banned San Diego Padres infielder Tucupita Marcano on Tuesday for placing hundreds of bets on baseball, including wagers on the Pittsburgh Pirates when he was a member of the team last season. MLB’s Department of Investigations found Marcano placed 387 baseball bets, including 231 MLB-related bets, through a legal sportsbook in 2022 and 2023, the league said. The Department of Investigations found all four players placed MLB-related bets while in the minors. MLB said a legal sports betting operator informed the league in March that it had “identified past baseball betting activity” from accounts connected to multiple players. He placed 29 baseball bets, including 28 MLB-related bets and one parlay bet on college baseball games in 2021 and 2022, the league said.
Persons: Tucupita Marcano, Marcano, Pete Rose, Rob Manfred, Michael Kelly, Jay Groome, José Rodriguez, Andrew Saalfrank —, , Kelly —, Marcano hadn’t, Kelly, Groome, Rodríguez, Saalfrank, Zac BonDurant Organizations: Major League Baseball, San Diego Padres, Pittsburgh Pirates, MLB’s Department of Investigations, MLB, Pirates, Cincinnati Reds, Major League, Oakland Athletics, Padres, Philadelphia Phillies, Arizona Diamondbacks, Department, Investigations, , A’s, Marcano, Houston Astros, Boston Red Sox, Triple, Phillies, Chicago White, Diamondbacks, Getty
Richard Taylor helped build BetMGM's responsible-gaming departmentRichard Taylor. He knew working in responsible gaming could bring a lot of good to the industry. He was previously the director of responsible gaming at MGM Resorts International and moved almost four years ago to BetMGM, where he currently serves in the same role. "I was fortunate enough to be selected to be the first director of responsible gaming," he told BI. He said this excited him because he could take the knowledge he obtained over the years to hopefully help young staff build good habits.
Persons: Richard Taylor, Mitchell Ternay, Taylor Organizations: MGM Resorts International, San Diego Padres, Las Vegas Locations: Las Vegas, Taylor
AdvertisementShortly after Mizuhara entered his plea Tuesday, MLB said it cleared Ohtani and closed its investigation into the matter. Ohtani accused Mizuhara of “massive theft,” alleging that Mizuhara had taken the money without his knowledge. Mizuhara had worked for Ohtani since the player’s arrival in the United States in 2018, when Ohtani hired Mizuhara as his de facto manager and interpreter, according to court documents. The investigation unearthed no evidence that Ohtani teamed with Mizuhara to place bets, nor that Mizuhara had placed any bets on baseball, prosecutors said. Mizuhara pleaded not guilty to bank and tax fraud charges on May 14, a formality ahead of the plea deal negotiated with federal prosecutors, Mizuhara’s attorney, Michael Freedman, said.
Persons: — Ippei, Shohei, Mizuhara, , , Mathew Bowyer, Ohtani, Martin Estrada, Michael Freedman, Frederic J . Brown Organizations: SANTA ANA, Calif, MLB, Los Angeles Dodgers, DOJ, Dodgers, Ohtani, Nippon, Ham Fighters, NPB Locations: SANTA, Japan, U.S, Ohtani, United States
Gaming stocks slip on new tax hike
  + stars: | 2024-05-28 | 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 EmailGaming stocks slip on new tax hikeCNBC's Contessa Brewer reports on news in the sports betting space.
Persons: Contessa Brewer
Check out the companies making the biggest moves midday: GameStop — Shares jumped nearly 23% following the video game retailer's announcement on Friday that it made about $933 million from a stock sale. U.S. Cellular — Shares added 7% after the telecom company announced T-Mobile will acquire its wireless operations and 30% of spectrum assets for $4.4 billion. T-Mobile was up less than 1%, while Telephone and Data Systems , which owns 84% of U.S. Cellular, slipped 2%. Norwegian Cruise Line — The cruise stock rose 3% after an upgrade to buy from neutral at Mizuho. Zscaler — The cybersecurity company shed nearly 4% following a downgrade at Wells Fargo to equal weight from overweight.
Persons: Agios, vorasidenib, , Duolingo Max, Semler, Elon, Zscaler, Airbnb, Eli Lilly, Macheel, Pia Singh, Hakyung Kim, Jesse Pound Organizations: GameStop, . Illinois, U.S, Cellular, Mobile, Telephone, Data Systems, U.S . Cellular, . Food, Drug, Pharmaceuticals, Royalty Pharma, Nvidia, Cruise, Mizuho, Sarepta Therapeutics, RBC Capital Markets, RBC, Sea, Reuters, , Energy Capital Partners, Wedbush, FDA Locations: U.S, Norwegian, Wells
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