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☆ From Sin City to Sports Central: How Las Vegas is betting big on a lucrative industry
▼ + stars: | 2023-11-19 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

But for many decades, the NFL and other leagues opposed having sport franchises in Las Vegas, most likely due to the city’s deeply rooted gambling industry. “Vegas fans tend to be sports fans, too, and sports have helped us expand the customer base that are willing to consider Las Vegas,” Hill said. And during the past two years, Las Vegas and other tourist-centric cities have benefitted from consumers’ post-pandemic splurges on experiences and travel versus goods. The Las Vegas Strip can be seen outside the lanai doors at Allegiant Stadium during a game on October 15, 2023, in Las Vegas, Nevada. Ethan Miller/Getty Images/FILEAs the pandemic wore on, construction continued on expanding the Las Vegas Convention Center as well as the Raiders’ Allegiant Stadium, among other projects.

Persons: ”, Andrew Woods, ” Woods, Woods, Roger Goodell —, ” Goodell, John Fisher, Steve Hill, ” Hill, Ethan Miller Organizations: Minneapolis CNN, Athletics, NCAA, NFL Pro Bowls, NBA, MLS, Center for Business, Economic Research, University of Nevada, Sunday’s, Las Vegas, Prix, UNLV’s Lee Business School, NFL, National Hockey League, Oakland Raiders, Major League Baseball, Oakland Athletics, Las Vegas Convention, Visitors Authority, UNLV, “ Entertainment Capital, Sports, Entertainment Capital, Las, Nevada Gaming Control, Getty, Las Vegas Convention Center, Raiders Locations: Minneapolis, Las Vegas, Vegas, Bellagio, Clark County , Nevada, Covid, United States, Las Vegas , Nevada

☆ ESPN's VP of sports betting shares his keys to success for ESPN Bet and an inside look into the partnership with Penn
▼ + stars: | 2023-11-17 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +8 min

In other words, ESPN Bet has arrived. The companies announced in August their collaboration, with the operator selling its stake in Barstool Sports to rebrand Barstool Sportsbook as ESPN Bet. Screenshots from the ESPN Bet app. Providing easy transitions between the ESPN and ESPN Bet apps is a key focus to drive that metric, he added. — ESPN BET (@ESPNBet) November 10, 2023The move has given ESPN Bet an advantage on social media with 5.4 million followers on X, 2.7 million on Facebook, and 2.4 million on Instagram.

Persons: It's, Jay Snowden, Mike Morrison, Morrison, Scott Longley, DraftKings, Penn, Snowden, Jimmy Pitaro, Pitaro, I'm, cohesively we've, Keys, Fubo Sportsbook, Maxim Bet, it's Organizations: ESPN Bet, ESPN, Penn Entertainment, Sports, Business, Apple, Caesars, Penn, ESPN Penn, TheScore, Fox, Maxim, Yahoo, Walt Disney Company, ESPN BET, Facebook Locations: Penn, Las Vegas

☆ Viva Las Vegas, Formula One betting big on Sin City race
▼ + stars: | 2023-11-15 | by ( Steve Keating | ) www.reuters.com time to read: +5 min

Wynn resort is offering the first-ever Las Vegas Grand Prix Million Dollar All-Access Experience that includes a $100,000 philanthropic gift. "However, the brand synergies with the inaugural Las Vegas Grand Prix are unmatched." Formula One has long been a magnet for the celebrity class and Las Vegas is sure to be an irresistible pull. Las Vegas may be the gambling capital of the world but there will be little bet on F1. "I would say this is due to lack of parity," Derek Stevens, owner of Circa and several other Las Vegas casinos told Reuters.

Persons: Max Verstappen, Greg Maffei, Red Bull, Aston Martin, Hilton, Red, it’s, Rebecca McAdam Willetts, Mark Wang, David Beckham, Shaquille O’Neal, Mark Wahlberg, Gordon Ramsay, Toto Wolff, Derek Stevens, Steve Keating, Toby Davis Organizations: LAS VEGAS, Las Vegas, Liberty Media, Formula One, Vegas, Ferrari, Mercedes, McLaren, Red Bull, PokerStars, Public Relations, Reuters, Poker, New York Stock Exchange, American Express, Heineken, Hilton, MGM Resorts International, Fountain Club, Hilton Grand, Club SI, Drai's Beach Club, Thomson Locations: Vegas, United States, Sin City, VVIPs, Las Vegas, Monaco, Drai's, Toronto

☆ This 'performance chasing' basket of stocks is up 21% in about 3 weeks and has room to run, Wolfe Research says
▼ + stars: | 2023-11-15 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Investors are chasing performance as Treasury yields decline and stocks rally, Wolfe Research found – and a basket of stocks is poised to build upon these gains through mid-December. Wolfe's basket includes the top 10 performing stocks within the 1,000 companies with the largest market cap. Fifty-one of the 53 analysts covering Nvidia rate it a buy or a strong buy. NVDA YTD mountain Nvidia shares in 2023 Online sports betting company DraftKings also made the list. DKNG YTD mountain DraftKings shares —CNBC's Michael Bloom contributed to this report.

Persons: Wolfe, Chris Senyek, DraftKings, Morgan Stanley, Ed Young, CNBC's Michael Bloom Organizations: Wolfe Research, Treasury, Micro, Nvidia, Citi, Wall Street Locations: treasuries

Wednesday's batch of analyst research included bullish calls on a credit card giant and a sports betting name. The firm downgraded the pharmaceutical stock to neutral from overweight and lowered its price target to $55 per share from $68. The bank downgraded the Canadian Solar to underweight from neutral in a Wednesday note and lowered its price target to $22 per share from $32. The analyst noted that the guidance given confirms his bull case for the stock, which consists of a $70 price target. The bank initiated coverage of the credit card giant with an overweight rating and a $184 per share price target — which implies more than 17% upside from Tuesday's close.

Persons: Morgan Stanley, Guggenheim, John DiFucci, there's, Brian Evans, Cantor Fitzgerald downgrades, Myers Squibb Cantor Fitzgerald, We've, Olivia Brayer, Myers Squibb, — Brian Evans, Julien Dumoulin, Smith, Wells, Omar Mejias, Mark Strouse, DraftKings, Stephen Grambling, Grambling, Fred Imbert, millennials, Z, Gen, Terry Ma Organizations: CNBC, Barclays, American Express, Guggenheim, FactSet, Myers Squibb, Bank of America, Wells Fargo, Warner Music Group, accel, JPMorgan, American Locations: Bristol, Generac, Europe, CSIQ

☆ Italy arrests six in crackdown on fentanyl smuggling from China to U.S.
▼ + stars: | 2023-11-15 | by ( Emilio Parodi | ) www.reuters.com time to read: +3 min

[1/2] An undated handout picture released by Guardia di Finanza shows banknotes that were seized as a part of an operation against fentanyl trafficking from China to U.S., in Piacenza, Italy. Guardia di Finanza Press Office/Handout via REUTERS Acquire Licensing RightsMILAN, Nov 15 (Reuters) - Italian police have arrested six people in a crackdown on a network that allegedly played go-between for fentanyl trafficking from China to the United States, Guardia di Finanza police and prosecutors in the northern city of Piacenza said on Wednesday. Washington is hoping to secure more cooperation from Beijing in combating production of the potent synthetic opioid fentanyl, a scourge in the United States, when President Joe Biden meets Chinese President Xi Jinping on Wednesday. Among those arrested in Italy is the alleged head of the network, a 51-year-old Italian man suspected of buying fentanyl from China over the past three years. He sold it on to buyers in the United States, and in one case in Mexico, the chief prosecutor said.

Persons: Grazia Pradella, Joe Biden, Xi Jinping, Emilio Parodi, Keith Weir Organizations: Guardia, Finanza, REUTERS Acquire, U.S . Drug Enforcement Administration, Reuters, U.S, U.S . Centers for Disease Control, Prevention, Police, Thomson Locations: China, U.S, Piacenza, Italy, United States, Guardia, Washington, Beijing, Mexico, Rome, Ukrainian, Switzerland, Eastern Europe, bitcoin

☆ 'Fraud is fun' DraftKings teen hacker pleads guilty in fantasy sports betting theft
▼ + stars: | 2023-11-15 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

A Wisconsin teenager pleaded guilty Wednesday in New York federal court to conspiracy in connection with a scheme to hack user accounts at the DraftKings fantasy sports betting website and with others steal about $600,000 from its customers. The Manhattan U.S. Attorney's Office said Garrison on Nov. 18 last year launched a so-called "credential stuffing attack" on the website. Hackers in such attacks use stolen user credentials obtained from past data breaches to gain authorized access to user accounts. "Garrison and others successfully accessed approximately 60,000 accounts at the Betting Website," the office said. Garrison, who has been free on $100,000 bond since his arrest in May, is scheduled to be sentenced in Manhattan federal court on Jan. 16.

Persons: Joseph Garrison, Garrison Organizations: Manhattan U.S, Attorney's, Betting Locations: Wisconsin, New York, U.S, Manhattan, Madison

NEW YORK (AP) — ESPN Bet, a rebranded sports-gambling app owned by Penn Entertainment, is set to launch Tuesday. Under the agreement, Penn will operate ESPN Bet while ESPN promotes the app across its online and broadcast platforms. It's unclear when ESPN Bet will officially be available to download. In addition to the $1.5 billion licensing deal, Penn also said it would grant ESPN rights worth about $500 million to purchase shares in Penn. The upcoming launch of ESPN Bet could take Walt Disney Co.-owned ESPN into uncharted waters.

Persons: Penn, Dave Portnoy Organizations: ESPN Bet, Penn Entertainment, ESPN, Penn, Sports, Walt Disney Co Locations: — Arizona, Colorado , Illinois , Indiana , Iowa , Kansas , Kentucky, Louisiana , Maryland , Massachusetts, Michigan , New Jersey , Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, Penn

☆ 6 ways ESPN's new sports betting app will leverage the network's talent and audience, from Pat McAfee to fantasy sports
▼ + stars: | 2023-11-10 | by ( Margaret Fleming | ) www.businessinsider.com time to read: 1 min

ESPN and Penn Entertainment gave on November 9 a first look at their new ESPN Bet app. Execs from both companies shared how the partnership will elevate each of their brands. Here are six ways Penn plans to leverage ESPN's brand and audience to elevate the sportsbook. ESPN and Penn Entertainment unveiled on November 9 a first look at their upcoming sports-betting app, ESPN Bet. Ahead of the app's November 14 launch, ESPN's vice president of sports betting and fantasy Mike Morrison and Penn's president and CEO Jay Snowden discussed at the ESPN Edge conference in New York how the sportsbook will leverage ESPN's iconic brand in hopes of shaking up the sports betting landscape and giving Penn an edge in the market.

Persons: Penn, Mike Morrison, Jay Snowden Organizations: ESPN, Penn Entertainment, ESPN Bet, ESPN Edge, Penn Locations: New York

☆ Flutter shares fall after disappointing earnings — but it insists FanDuel is No. 1 in sports betting
▼ + stars: | 2023-11-09 | by ( Contessa Brewer | ) www.cnbc.com time to read: +1 min

FanDuel parent Flutter came out swinging Thursday, insisting the online gaming platform is the market leader in sports betting in the United States after DraftKings last week boasted it had taken over the top slot. Even as Jackson projected confidence in the company's market position, FanDuel's revenues failed to meet Wall Street expectations in the third quarter. In the U.S., the company's revenue grew by 20% year over year to $820 million, and average monthly players grew by 38%. Flutter shares plummeted after the company reported disappointing third-quarter results. It did not detail earnings results, but reiterated its full-year adjusted EBITDA guidance of $180 million in the U.S.

Persons: DraftKings, Peter Jackson, Jackson Organizations: CNBC Locations: United States, U.S, Australia, India

☆ Fanatics helps pro athletes transition to life after sports with business immersion program
▼ + stars: | 2023-11-09 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Fanatics is helping professional athletes transition to life after the final buzzer — or pitch, or whistle. Through the one-week immersion program, players get in-classroom learning combined with hands-on experiences in Fanatics' different business units. The company says it is uniquely positioned to help athletes lay the groundwork for the next chapter of their careers with its wide-ranging sports portfolio. Athletes in the program get a first-hand look at everything from Fanatics' collectables business to its apparel company to its VIP and loyalty programs. Harrison joined 10 other professional athletes in Los Angeles this week for the Fanatics program.

Persons: it's, Orlando Ashford, Ashford, Isabelle Harrison, Harrison Organizations: WNBA, MLB, University of Southern, NFL Locations: University of Southern California, Los Angeles

He also lowered his price target by $6 to $120, implying just 3.9% upside from Tuesday's close. Analyst Shaun Kelley has a $40 price target on shares, implying shares could gain 11.4% from Tuesday's close. Rivian shares jumped more than 7% after the company increased its production forecast for the full year by 2,000 units to 54,000. Datadog shares have produced zero return over the past three years, Murphy noted, with shares down 9% since Oct. 15, 2020. UBS has a neutral rating on Apple and a price target of $190 per share, which implies upside of 4.5%.

Persons: Cowen downgrades Estee, TD Cowen, Estee Lauder, Oliver Chen, Chen, — Hakyung Kim, Shaun Kelley, Kelley, Goldman, Goldman Sachs, Neil Mehta, Mehta, There's, Colin Langan, Langan, Piper Sandler, Alexander Potter, Potter, Rivian, Mark Delaney, Morgan Stanley, Jonas, Mark Murphy, Murphy, David Vogt, Vogt, Fred Imbert Organizations: CNBC, Tech, UBS, JPMorgan, Revenue, Asia, Bank of America, Industry, Mehta ., Wall Street, Rivian, pullbacks, Pro, Pro Max, Apple Locations: China, Asia Pacific, Europe, Middle East, Africa, Tuesday's, U.S

☆ The inside story of how FanDuel upended US sports betting with the same-game parlay and used it to dominate the market
▼ + stars: | 2023-11-07 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +11 min

The daily-fantasy-sports company, which European gambling giant Flutter Entertainment had acquired, was racing to introduce its "same-game parlay" to the US. The same-game parlay, a phrase FanDuel coined, has since caught fire, meshing well with the high-scoring, stat-driven, athlete-personality focus of US sports — and propelled FanDuel to the forefront of the betting market. "The same-game parlay was the right product in the right market at exactly the right time." Every sports-betting operator, from DraftKings to newcomer Fanatics, now has or is building its version of the same-game parlay. After the NBA resumed play in July 2020, the same-game parlay grew from 5% to 10% of FanDuel's bets, Farren said.

Persons: FanDuel, Scott Longley, parlay, Conor Farren, FanDuel's, DraftKings, Entain, parlays, Longley, would've, John Maguire, Maguire, isn't, LeBron James, Jalen Rose, Sportsbet, Paddy Power Betfair, Farren, It's, Ben Hider, Penn Organizations: NFL, Krejcik, Houston Rockets, Los Angeles Lakers, Australian Football League, Australian rugby, NBA, ESPN Bet, FanDuel, Industry Locations: DraftKings, Melbourne, Australia, England, FanDuel

☆ Sports betting, online casino boom fuels big DraftKings revenue gains as rivals vie for market share
▼ + stars: | 2023-11-03 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

The growth of online sports betting and casino gaming across the U.S. has led to soaring revenue for sportsbook companies, but an already crowded race for consumers' dollars is about to get more competitive. Its success, which sent shares more than 16% higher Friday, came not only from sports betting, but also from online versions of casino games. Revenue is expected to grow yearly by 17.3% to reach a projected market volume of $14.4 billion by 2027. Meanwhile, despite being legal in just six states, revenue in the online gaming market is projected to reach $19.1 billion in 2023, according to Statista data. Revenue for online gaming is projected to grow 12.9% yearly and hit $31.1 billion by 2027.

Persons: It's Organizations: Caesars, MGM, Walt Disney Company, ESPN BET, Revenue Locations: U.S

☆ Stocks making the biggest moves midday: Expedia, Paramount Global, DraftKings, Block and more
▼ + stars: | 2023-11-03 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Expedia — Shares surged 17% during midday trading Friday, a day after the vacation booking platform delivered a stronger-than-expected earnings report for the third quarter. Analysts polled by LSEG forecasted earnings of $4.93 per share and $3.86 billion in revenue. Paramount Global — The media conglomerate stock climbed 12% after reporting a third-quarter earning s beat on the top and bottom line. On Thursday, the company reported an adjusted 30 cents per share on $7.13 billion in revenue, while analysts polled by LSEG forecast 10 cents and $7.10 billion. The company reported revenue of $285.9 million against estimates from analysts polled by FactSet of $275 million.

Persons: Expedia, Bill Holdings, KeyBanc, DraftKings, Carl Icahn, Insulet, Gartner, FactSet, —, Jesse Pound, Hakyung Kim, Alex Harring, Darla Mercado Organizations: LSEG, Apple, Paramount Global, Wall, FactSet, Revenue, Bank of America, Citi, JPMorgan Chase —, JPMorgan, Gartner, Lionsgate Entertainment, CNBC, Starz, Lionsgate Locations: CashApp

☆ Stocks making the biggest moves after hours: Apple, Live Nation, Insulet, Paramount Global, Expedia and more
▼ + stars: | 2023-11-02 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Insulet — Shares added nearly 10% after beating both earnings and revenue estimates in the third quarter. Revenue came in at $432.7 million, while analysts polled by FactSet anticipated revenue of $414.3 million. Expedia — Stock in the travel booking company surged 9% after beating both revenue and earnings estimates in the third quarter. Paramount Global — The media conglomerate stock ticked up nearly 6% following a third-quarter earnings beat . Floor & Decor Holdings — The flooring retailer slipped more than 15% after missing third-quarter revenue forecasts.

Persons: FactSet, Apple, Expedia, LSEG, Block, Fortinet, Carvana, DraftKings, Darla Mercado, Scott Schnipper Organizations: LSEG, Revenue, Apple, Paramount Global, Paramount, Holdings, FactSet

☆ As Disney, Fanatics threats emerge, FanDuel CEOs says online sports betting isn't for the 'faint of heart'
▼ + stars: | 2023-11-02 | by ( Ian Thomas | ) www.cnbc.com time to read: +3 min

Currently, 35 states and Washington, D.C., have legal sports betting, according to the AGA. Fanatics, the Michael Rubin-founded sports merchandise company, acquired the U.S. operations of PointsBet after a several-year pursuit of an entry to the sports betting market. "These are partnerships that we've been building up for years long before online sports betting was legal in the states." And oh, by the way, you're spending a lot of money making sure that again, you can responsibly bring consumers to your platform," Howe said. Hear how CEOs from Target, FedEx, Kraft Heinz, FanDuel and more are adapting, innovating and transforming in this new era of business.

Persons: FanDuel, Michael Rubin, Amy Howe, CNBC's Contessa Brewer, you've, Howe, there's, we've, It's, Kraft Heinz Organizations: Supreme, American Gaming Association, D.C, Caesars, Disney, ESPN, ESPN Bet, Penn Entertainment, CNBC's, CNBC, FanDuel, Ticketmaster, NFL, NBA, MLB, NHL, Google, Target, FedEx, Kraft Locations: U.S, Washington, PointsBet

☆ DraftKings revenue jumps 57% as sportsbook leader grows customer base
▼ + stars: | 2023-11-02 | by ( Stefan Sykes | ) www.cnbc.com time to read: +3 min

Sports betting company DraftKings on Thursday posted quarterly revenue that came in ahead of analysts' expectations as the company rises to the top of the highly competitive online gambling industry. DraftKings reported 2.3 million monthly unique payers in the third quarter, representing a 40% increase year over year. Last month, DraftKings overtook rival sportsbook FanDuel for the first time in market share to become the leader in the U.S. online gambling market, according to market research firm Eilers & Krejcik Gaming. DraftKings accounted for about 31% of online gambling revenue in the third quarter, through Aug. 23, while FanDuel's market share fell to 30%, according to Eilers & Krejcik. For its fiscal 2024, DraftKings expects revenue of $4.50 billion to $4.80 billion.

Persons: Stephon Gilmore, DraftKings, Jason Robins, sportsbook FanDuel Organizations: New England Patriots, Sports, DraftKings, LSEG, Revenue, Krejcik, CNBC PRO Locations: Foxborough , Massachusetts, Kentucky, Maine, North Carolina, Ontario, Canada, U.S

☆ Stocks making the biggest moves midday: Starbucks, Roku, Eli Lilly, Affirm and more
▼ + stars: | 2023-11-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Starbucks — Shares jumped 9.5% after the company posted an earnings and revenue beat in the fiscal fourth quarter. Palantir also raised its revenue guidance to between $2.216 billion and $2.22 billion for the full year. Clorox — Shares rallied more than 6.6% Thursday after the company posted an earnings and revenue beat in the fiscal first quarter. CyberArk's fourth-quarter and full-year earnings guidance also came in above analysts' estimates. Management lowered the company's full-year earnings, revenue and operating margins guidance.

Persons: Roku, SolarEdge, Shopify, Palantir, LSEG, Eli Lilly —, —, Penn, Morgan Stanley, CyberArk's, Papa John's, Sarah Min, Yun Li, Michelle Fox, Pia Singh, Alex Harring Organizations: Starbucks —, Management, Truist, BMO Capital Markets, Guggenheim, Moderna —, Moderna, Penn Entertainment, ESPN, Amazon Business, Marriott, Rockwell Automation — Rockwell Automation Locations: China, America

But that outburst of direct democracy has been limited to just half the states. About 167 million people live in 25 other states where such direct democracy is not currently an option. The number of ballot measures seeking to restrict the initiative and referendum process dipped in 2016 and has since risen. Measures seeking to restrict direct democracy peaked from 1995 to 2004 but significantly outpaced those seeking to expand direct democracy throughout the entire period of 1960 through 2022. Californians have considered 391 ballot initiatives — approving 137 of them — following campaigns that in recent years have cost tens of millions of dollars.

Persons: ”, John Matsusaka, Daniel Smith, Todd Donovan, that's, it's, Matsusaka, Michael Smith, ” Donovan, It's, it’s, ” Matsusaka Organizations: Initiative, University of Southern, South, University of Florida, Western Washington University, REPUBLICAN PUSHBACK Republican, Republican, Democratic, BIG, Oregon, Voters, Emporia State University, Referendum Locations: Maine, Ohio, University of Southern California, South Dakota, Mississippi, Alaska, Wyoming, Illinois, Florida, Arizona , Arkansas , Ohio, Arizona, Oregon, California, Kansas

☆ Senators forward Pinto handed 41-game suspension for sports betting
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

Jan 25, 2023; Ottawa, Ontario, CAN; Ottawa Senators center Shane Pinto (57) skates to the bench after scoring in thew first period against the New York Islanders at the Canadian Tire Centre. Mandatory Credit: Marc DesRosiers-USA TODAY Sports/File Photo Acquire Licensing RightsOct 26 (Reuters) - Ottawa Senators forward Shane Pinto has been banned for 41 games for activities relating to sports wagering, the National Hockey League said on Thursday. The NHL said its investigation into the matter found no evidence that Pinto, whose suspension amounts to half of a regular season, made any bets on NHL games. The 22-year-old Pinto, who the Senators selected with the 32nd pick of the 2019 NHL Draft, is a restricted free agent and has not played for Ottawa this season. Pinto had 20 goals and 35 points in 82 games with Ottawa during the 2022-23 season, which marked the American's first full campaign in the NHL.

Persons: Shane Pinto, Marc DesRosiers, Pinto, Frank Pingue, Ken Ferris Organizations: CAN, Ottawa Senators, New York Islanders, Canadian Tire Centre, National Hockey League, NHL, Ottawa, Thomson Locations: Ottawa , Ontario, thew, Toronto

☆ Stocks making the biggest moves midday: Spotify, Coca-Cola, DraftKings, 3M and more
▼ + stars: | 2023-10-24 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

3M — The conglomerate jumped 5.8% after beating analyst expectations in the quarter and raising its earnings outlook. The company missed consensus estimates from analysts polled by FactSet on both lines in the quarter, while fourth-quarter revenue guidance was also lower than expected. It also raised its full year revenue guidance to $235 million to $238 million, greater than prior guidance of $230 million to $235 million. The Trade Desk — Shares advanced 3.2% after Loop Capital initiated coverage of the advertising technology stock with a buy rating. Criteo — The advertising technology stock traded 4.1% higher after KeyBanc initiated coverage with a buy rating.

Persons: DraftKings, Coinbase, bitcoin, Microstrategy, TrueBlue, FactSet, Hexcel, DA Davidson, Baird, Criteo, KeyBanc, Morgan Stanley, Calvin Klein, Tommy Hilfiger, —, Sarah Min, Samantha Subin, Hakyung Kim, Tanaya Macheel Organizations: Spotify —, LSEG, General, General Electric, 3M, Barclays — U.S, Microsoft, Google, Marathon, Apollo Capital, U.S . Securities, Exchange Commission, Monday, Loop, Rio Tinto, Barclays, FMC, JPMorgan Locations: Rio

☆ DraftKings edged out FanDuel for the first time as the market-share leader in US online gambling, a new report shows
▼ + stars: | 2023-10-19 | by ( Margaret Fleming | Ashley Rodriguez | ) www.businessinsider.com time to read: +3 min

There's a new top dog in US online gambling. DraftKings edged out rival FanDuel for the largest portion of online gambling market share in the US, according to a Wednesday report from the market research firm Eilers & Krejcik Gaming. DraftKings had amassed about 31% of online gambling gross gaming revenue in the third quarter through August 23, while FanDuel's market-share lead had dipped to 30%. But DraftKings' share has steadily grown steadily since, per the report. FanDuel, meanwhile, has fallen from a Q1 2023 peak of 37% online gambling share.

Persons: FanDuel, DraftKings, sportsbooks, Penn, BetMGM Organizations: Krejcik, Gross, Golden, ESPN Bet, Caesars Entertainment, FanDuel, Wall Locations: BetMGM, Bet365

☆ 5 Top Sports-Betting Trends to Watch, From AI to Igaming Regulation
▼ + stars: | 2023-10-18 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +9 min

The AI arms raceGambling companies overall are racing to figure out how to use artificial intelligence to supercharge their businesses. She sees potential for AI to help spot problem gambling behavior, as well. IGaming legislation could gain steam in 2024The pace of legal online casino-style gambling, or iGaming, regulation has moved at a glacial pace in the US. It's been a big obstacle for gambling operators because iGaming is generally a more profitable business than sports betting. Many in the industry are hoping for a domino effect when the next significant state legalizes iGaming that spurs others to follow.

Persons: —, Amy Howe, Jason Robins, we're, FanDuel's Howe, David Jacquet, It's, Howe, FanDuel, Travis Kelce, Lewis Hamilton, DraftKings, Robins, PrizePicks, we'll, Adam Greenblatt, he'd, Greenblatt, it's, cybersecurity Organizations: Sports, DFS, Kansas City Chiefs, Underdog, US, American Gaming Association, MGM, Caesars, MGM Resorts, Caesars Entertainment Locations: Las Vegas , Nevada, — Florida, New York, Michigan, G2E

When internet and sports betting money is included, the casinos, horse tracks that take sports bets and their online partners won over $521 million from gamblers in September. Tropicana won $21.4 million, down 8.2%; Caesars won just under $21.4 million, down 4.5%; Resorts won $14.9 million, down 10.7%; Bally's won $13.1 million, down 17.3%, and the Golden Nugget won $12.6 million, down 6.1%. Tropicana won $33.7 million, down 2.6%; Harrah's won $22.5 million, down 2.6%; Caesars won $21.3 million, down 10.7%; Bally's won $20.2 million, down 1.3%; and Resorts won nearly $15 million, down 11.6%. Of that money, about $111 million was kept as revenue after winning bets and other expenses were paid out. Among internet-only entities, Resorts Digital won $45.4 million in September, up nearly 33%, and Caesars Interactive Entertainment NJ won $5.6 million, down over 38%.

Persons: ”, Jane Bokunewicz, Lloyd Levenson, James Plousis, Harrah's, Bally's, Borgata, Wayne Parry Organizations: CITY, — Sports, Atlantic City, of Gaming, Resorts, New Jersey's Stockton University, New Jersey Casino Control, Casino, Ocean, Tropicana, Caesars, Golden, Casinos, Resorts Digital, Caesars Interactive Entertainment, Twitter Locations: N.J, New Jersey, Ocean, New, Atlantic City, www.twitter.com

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