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☆ FanDuel's Amy Howe tries to balance pragmatism, humility, and profitability — all while being a trailblazer in a male-dominated industry
▼ + stars: | 2022-12-28 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

As the CEO of FanDuel, Amy Howe accomplished a feat this year that so far no other US sports-betting platform has been able to achieve: profitability. Seeking constant innovationThis year Howe launched FanDuel TV, a 24-hour television network, which features a mix of studio programming and live sports. She also sealed deals with the WNBA and the New York Yankees, making FanDuel the official sportsbook partner and official daily fantasy partner for the league and team. At the SBC Summit North America trade show and conference this year, she described the female market as an "untapped opportunity" and detailed a number of FanDuel's initiatives to bring more women bettors into the fold. "We're always a little bit paranoid about making sure that we can continue to maintain that position," Howe told Insider last year.

Insider's second-annual list of the Most Transformative CEOs features three executives who are leading innovation in their industries. These CEOs are devising new ways to serve a range of interests, including clients, employees, and investors. At FanDuel, Howe has brought more women into the industry. ROSALIND BREWER, the CEO of Walgreens Boots AllianceRosalind Brewer, the CEO of Walgreens Boots Alliance. BRIAN NICCOL, the CEO of ChipotleBrian Niccol, the CEO of Chipotle.

☆ 5 top sports-betting execs share what they got right and wrong about the industry this year and their predictions for 2023
▼ + stars: | 2022-12-23 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +2 min

Betr founder and CEO Joey Levy thought we'd see more M&A this year, but says it's a preview for what we'll see more of in 2023. Betr founder and CEO Joey Levy. Simplebet cofounder Joey Levy is banking that the "idea of making every moment in a sporting event an accessible betting opportunity," which is known as microbetting, is the future of US sports betting. His predictions for 2023: "2022 is a good preview for what you're going to see a lot more of in 2023. I also think we'll see a lot of focus on product innovation.

☆ Fanatics salaries: Pay data shows how much the merch giant offers for tech and other jobs, as it expands into sports collectibles, betting, and more
▼ + stars: | 2022-12-21 | by ( Ashley Rodriguez | Colin Salao | ) www.businessinsider.com time to read: +12 min

Recent work-visa data shows how much the company offers to pay certain staffers. Salaries in the data ranged from $57,100 to $233,200 for mainly tech jobs in its retail division. It included base salaries for mainly tech jobs in the retail division, ranging from a data engineer position that would make $110,000 per year to a director of product management that would earn between $201,968 and $231,750 per year. For example, the data included a pay rate of $125,486 to $130,000 for an experimentation strategist position. Here were the salaries for jobs at Fanatics SPV:Director, Influencer Relations : $195,042 to $200,000: $195,042 to $200,000 Senior Platform Engineer: $144,726 to $165,000This story has been updated to reflect the latest available data.

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☆ Sports betting operator BetMGM hit by data breach
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

Dec 21 (Reuters) - Sports betting service BetMGM said on Wednesday personal information of its customers were obtained in an unauthorized manner, but did not specify the number of users affected. The issue affected customer information such as name, contact information, date of birth, hashed Social Security number, account identifiers and information related to transactions with BetMGM, the company said. BetMGM did not immediately respond when asked about the number of customers impacted by to the breach, which it believes occurred in May this year. BetMGM's online operations were not compromised, the company added. Last month, sports-betting firm DraftKings Inc (DKNG.O) also reported a security issue wherein login information of some customers was compromised on other websites.

☆ Disney should spin off ESPN and ABC, analyst says
▼ + stars: | 2022-12-20 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

But one Wall Street analyst has an idea for how Disney could get back on track. Wells Fargo’s Steven Cahall thinks Disney should spin off cable sports giant ESPN and traditional TV network ABC… two slow-growth (and some would argue, dying) businesses. Cahall wrote in his report that “we think Bob Iger is returning to {Disney] ready to make big changes. ESPN, in theory, may have an easier time negotiating with sports leagues as part of a pure play media network. “We think ESPN and ABC are integrally linked as the broadcast [network] improves negotiations in sports rights, and we’re seeing more of those sports on both networks,” he wrote.

☆ Leo Messi used a 'growth mindset' to finally win his World Cup trophy—here's what that looked like
▼ + stars: | 2022-12-19 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

The only major item missing was a World Cup trophy until Sunday, when Messi's Argentina defeated France in a 4-2 penalty shootout after an extra-time thriller. The approach may sound familiar: It's reminiscent of psychologist Carol Dweck's theory of the growth mindset, which posits that talent is only a starting point. Many non-athletes champion their own versions of the growth mindset, from billionaire Mark Cuban to actor Will Smith. Studies show that students who are taught the "growth mindset" by educators are able to improve their test scores more than their peers, over time. And despite long being recognized as a global superstar, it took him roughly 16 years over five World Cup tournaments to finally land his elusive prize.

☆ Nearly half of sports gamblers like those who bet on the World Cup still do it illegally, and it's costing your state millions in tax revenue
▼ + stars: | 2022-12-19 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

It's costing state government millions in tax revenue. Illicit sports betting — and illegal gambling more broadly — is costing states millions in tax revenue, and someday, taxpayers could be called upon to foot part of the bill. Illegal sports betting is costing them millions in tax revenue — an estimated $700 million in total revenue per year, per the AGA report. Legalization has been a boon for states' tax coffers, and is among the reasons many states' tax revenues have fully recovered from a pandemic dip. Others may simply have grown used to illegal operators and not want to switch as a result.

☆ The biggest media targets and buyers in 2023, as speculation swirls around Disney's next move under CEO Bob Iger and how Warner Bros. Discovery can shed debt
▼ + stars: | 2022-12-19 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

Continued pressure to get bigger has big media companies in Hollywood looking to scale up. Media bankers and investors predicted to Insider that dealmaking will rebound in 2023 as companies big and small size up their options for possible tie-ups. Pressure on big media companies to get bigger hasn't gone away. Apple: Could eye a big content prizeTim Cook. Paramount's library could help a streaming company bulk up its content; Netflix for one has explored Paramount's studio business before.

☆ Fanatics valuation hits $31 billion after $700 million investment round
▼ + stars: | 2022-12-06 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Michael Rubin's sports platform company Fanatics has raised $700 million in fresh capital, pushing its value to $31 billion, according to people familiar with the matter. In March, the company raised $1.5 billion led by Fidelity and Blackrock and Michael Dell's MSD Partners. This summer, Fanatics ventured deeper into collegiate sports, signing a long-term deal with Nike to manufacture college sports fan apparel. Rubin now has his eyes on the sports gaming market. Revenue for Fanatics, including its Lids segment, will be approximately $8 billion in 2023, according to company estimates.

☆ From Apple and Disney to Warner Bros. Discovery, here's the 2023 media deal outlook for Hollywood's biggest companies, according to 13 bankers and industry experts
▼ + stars: | 2022-12-06 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

☆ Winners and Losers of Advertising During an Economic Downturn
▼ + stars: | 2022-12-05 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

Executives from three of the largest ad agencies — Magna Global, GroupM, and Zenith — spoke at UBS' Global TMT Conference about how the ad industry will shake out next year. Kate Scott-Dawkins, global director of business intelligence at GroupM, said that retail media was the fastest-growing area within digital advertising this year. It upped its retail media forecast to $110 billion this year, up from $100 billion in September. Streaming TV is also starting to compensate for dips in linear TV ad spending. TV advertising will dip because it lacks annual commitments from advertisers, causing ad prices to come down to pre-covid levels.

☆ Drew Brees fakes lightning strike in promotional stunt for online sportsbook
▼ + stars: | 2022-12-02 | by ( Jessica Golden | ) www.cnbc.com time to read: +1 min

Legendary New Orleans Saints quarterback Drew Brees faked being struck by lightning as part of a promotional stunt for betting company PointsBet. Brees confirmed in a subsequent video that he's perfectly fine and "buzzing" about the sportsbook's latest offer involving its "lightning bets," which allow users to make in-game wagers. The stunt comes as online sportsbooks gain popularity and fight for customers. "I would say this is probably one of the worst decisions he's made as a public figure." Brees is an ambassador for PointsBet, which trades on the Australian Stock Exchange and has operations in the United States, Canada and Ireland.

☆ Gambling Operators Push Sports Betting at Colleges—but Not to Students, They Say
▼ + stars: | 2022-11-30 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

With the rise of sports betting, one playing field has become a dividing line in the U.S. gambling industry: college campuses. Caesars Entertainment Inc. has signed marketing deals with the Louisiana State University and Michigan State University athletics programs, giving the Las Vegas-based sports-betting operator access to advertise in college stadiums and other sports facilities and in digital and broadcast sports content, among other rights, according to the company. Financial terms of the deals haven’t been disclosed.

☆ Sports Betting Companies Advertise on College Campuses—but Not to Students, They Say
▼ + stars: | 2022-11-30 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

☆ Yahoo eyes retail stock trading in growth push - Axios
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

Nov 29 (Reuters) - Yahoo plans to add retail stock trading and enter new commerce and transaction businesses such as sports betting in a move to boost its revenue, news website Axios reported on Tuesday citing an unnamed company source. The owner of websites such as Yahoo Finance, Yahoo Sports and TechCrunch generates around $8 billion in revenue annually, the report said. Private equity firm Apollo Global Management, which owns Yahoo following a $5 billion buyout last year, did not immediately respond to a Reuters request for comment. The report comes a day after Yahoo said it will buy nearly 25% of Taboola.com Ltd (TBLA.O) and become its largest shareholder, allowing the online advertising company to exhibit paid content on the web portal's many sites. Reporting by Tiyashi Datta in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ JPMorgan downgrades DraftKings, says other sports betting stocks look more attractive
▼ + stars: | 2022-11-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

It's time for investors to ditch shares of DraftKings , according to JPMorgan. DraftKings' stock has come under pressure this year, falling nearly 45% since the start of 2022 and 58.6% from its 52-week highs. The bank's $12 price target implies a near 21% downside for the stock from Friday's close. JPMorgan also downgraded shares of Penn Entertainment to neutral from overweight. In other words, our downgrade of PENN is a valuation call," JPMorgan said.

☆ Here are Monday's biggest analyst calls: Amazon, Apple, DraftKings, Tesla, Live Nation & more
▼ + stars: | 2022-11-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Monday's biggest calls on Wall Street: JPMorgan reiterates Apple as overweight JPMorgan said its survey checks show Apple's iPhone Pro lead times are moderating. JPMorgan names Amazon a top idea heading into 2023 JPMorgan said Amazon is the "most diversified mega-cap across revs & profit & has numerous large growth opportunities." Morgan Stanley downgrades Aptiv to equal weight from overweight Morgan Stanley said in its downgrade of the auto tech supplier that it thinks Aptiv will be affected by a slower rollout of electric vehicles. Morgan Stanley downgrades Williams-Sonoma to underweight from equal weight Morgan Stanley said in its downgrade of Williams-Sonoma that "negative revisions are set to begin." JPMorgan downgrades First Solar to neutral from overweight JPMorgan downgraded the solar stock mainly on valuation.

☆ Stocks making the biggest moves midday: Apple, DraftKings, Biogen, Williams-Sonoma and more
▼ + stars: | 2022-11-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday:Apple — Apple shares fell 2% following a report that iPhone production could take a big hit due to unrest at a Foxconn factory in China, amid protests in China against the nation's zero-Covid policy. Wynn Resorts, Melco Resorts — Shares of casino operators Wynn Resorts and Melco Resorts gained 4.1% and 9.5% respectively, after the Chinese government granted them provisional licenses to continue operating in Macau. DraftKings — Shares dropped more than 5% after JPMorgan downgraded DraftKings to underweight from neutral, saying in a note that the company's competitors are more likely to achieve online sports betting profitability. Biogen — Biogen's stock fell nearly 4% after a Science.org report that a woman participating in an experimental Alzheimer's treatment trial, sponsored by Biogen and a Japanese pharma company, recently died from a brain hemorrhage. Williams-Sonoma — Shares tumbled 4.7% after Morgan Stanley downgraded the home furnishings stock to underweight, saying shares could fall further as demand weakens in a difficult macro environment.

☆ 3 key takeaways on how Bob Iger's surprise return to Disney could shape its sports strategy, from 'deep cost-cutting at ESPN' to 'quick wins' in sports betting
▼ + stars: | 2022-11-21 | by ( Colin Salao | ) www.businessinsider.com time to read: +7 min

Analysts expect Iger to make major changes to ESPN's broadcasting strategy for live sports. Bob Iger has been reinstated as the CEO of the Walt Disney Company, replacing Bob Chapek after less than three years at the helm. Iger's return has boosted Disney's stock price by 6% in the past day with experts predicting major strategic changes within the company. The cost of these rights deals have also continued to shoot up amid the transition from linear TV to direct-to-consumer services. It actually strengthens the brand of ESPN when you have a betting component, and it has no impact on the Disney brand."

☆ Americans plan to wager $1.8 billion on the first World Cup with widespread, legal sports betting
▼ + stars: | 2022-11-19 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +4 min

An estimated 132 million Americans now live in states where sports betting is legal, compared with just 10 million during the last World Cup four years ago. AGA reports the majority of those betting — 78% — say placing legal bets is important. "As the World Cup kicks off, anyone getting in on the action should have a game plan to bet responsibly," AGA Senior Vice President Casey Clark said in a press release. Legal gambling means you may not find yourself in trouble with the law for wagering on the World Cup or any other sporting event. Before mobile sports betting became widely legal, bettors had to go to a physical sportsbook or work with a live bookie to place bets.

☆ Here are Friday's biggest analyst calls: Coinbase, Apple, Amazon, GM, Conagra, Pfizer & more
▼ + stars: | 2022-11-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Credit Suisse downgrades Hewlett Packard to neutral from outperform Credit Suisse said it sees too many macro headwinds for the stock. Credit Suisse names Ross a top pick Credit Suisse says the offprice retailer has the most "torque" to accelerate market share gains. "Strong 3Q updates from ROST /TJX reinforces our bullish thesis that Offpricers are quickly repositioning for accelerating market share and powerful EPS tailwinds as margins revert to pre-COVID levels starting in '23." Credit Suisse initiates Pfizer as outperform Credit Suisse said in its initiation of Pfizer that it likes the company's pipeline advances. " Credit Suisse initiates Eli Lilly as outperform Credit Suisse said in its initiation of Eli Lilly that it sees "upward revisions" from obesity sales.

☆ 20.5 million Americans expected to wager $1.8 billion on Qatar World Cup
▼ + stars: | 2022-11-18 | 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 Email20.5 million Americans expected to wager $1.8 billion on Qatar World CupSports betting companies are gearing up for the start of the World Cup on Sunday in Qatar. CNBC's Contessa Brewer joins 'Squawk Box' to break down the details.

☆ Watch CNBC's full interview with Matt Farrell, research analyst at Piper Sandler
▼ + stars: | 2022-11-18 | 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 EmailWatch CNBC's full interview with Matt Farrell, research analyst at Piper SandlerMatt Farrell, research analyst at Piper Sandler, joins 'Power Lunch' to discuss his bullish call with a $21 price target for DraftKings, the data informing his call and the fate of the sports betting industry at large.

☆ Stocks making the biggest moves midday: Ross Stores, Carvana, Coinbase, Rent the Runway and more
▼ + stars: | 2022-11-18 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Ross Stores — Ross Stores jumped 10% after a quarterly beat on earnings and revenue. Foot Locker — Shares jumped 7% after Foot Locker reported surpassed expectations in its latest quarterly report and raised its full-year forecast. Rent the Runway — Shares of Rent the Runway dropped 12% after Morgan Stanley downgraded shares of the online apparel reseller to equal weight from overweight. Buckle reported third-quarter earnings of $1.24 per share, while consensus estimates called for earnings of $1.19 per share, according to FactSet. Williams-Sonoma — Shares dropped nearly 7% after Williams-Sonoma declined to reaffirm or update its guidance through fiscal year 2024..

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