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☆ With record Super Bowl wagers expected, here are Wall Street's top sports-betting stocks
▼ + stars: | 2023-02-10 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

The names were a member of Roundhill Sports Betting & iGaming ETF , VanEck Gaming ETF , and/or iBet Sports Betting & Gaming ETF . Of the gaming companies on the list, Caesars Entertainment has the most upside to the average analyst price target, 26.2%. Caesars gaming empire includes Caesars Sportsbook, which came out of the company's 2021 $4 billion acquisition of William Hill . MGM Resorts follows with 23% upside to the average analyst price target. The stock, which has gained nearly 6% so far this year, has 11% upside to the average analyst price target.

☆ Entain's shares tumble as MGM scraps buyout plan
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: 1 min

Feb 9 (Reuters) - Shares of Entain plc (ENT.L) tumbled up to 13% on Thursday after the U.S-based MGM Resorts International (MGM.N) said it had "moved on" from pursuing an offer for the British gambling firm. MGM Chief Executive William Hornbuckle said in a post-earnings call on Wednesday that although it remained focused on online sportsbook BetMGM - a joint venture with Entain - it saw great potential in the expansion of Swedish online gaming company LeoVegas, which it bought last year. Entain's shares fell as much as 13% to an over one-month low of 1365.5 pence in morning trade. Reporting by Radhika Anilkumar in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Earnings, M&A chatter lift FTSE 100 to record high, Entain tumbles
▼ + stars: | 2023-02-09 | by ( Sruthi Shankar | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) rose 0.7% to touch a record high of 7,943.68, while the midcap FTSE 250 index (.FTMC) inched up 0.1%. AstraZeneca (AZN.L) jumped 4.3%, set for its best day in nearly a year, after the drugmaker forecast earnings growth in 2023. Unilever (ULVR.L) rose 0.4% after the consumer goods giant reported quarterly underlying sales growth above expectations. Watches of Switzerland Group (WoS) (WOSG.L) slumped 13.1% after it gave its quarterly trading update. (This story has been corrected to say Watches of Switzerland Group gave quarterly trading update, not full-year in the third bullet and last paragraph.)

☆ U.K. Gambling Company Fined $7.6 Million Over Alleged Money-Laundering Control Issues
▼ + stars: | 2023-01-26 | by ( Richard Vanderford | ) www.wsj.com time to read: +2 min

U.K. online gambling company Intouch Games Ltd. has been fined the equivalent of $7.6 million after a regulator cited a series of failures in its program to prevent money laundering. The U.K.’s Gambling Commission on Wednesday announced the £6.1 million penalty for Intouch, the third action the regulator has taken against the company since 2019. The Gambling Commission has been among the more active enforcement bodies in its approach to the growing online gambling sector, taking action against companies when it has found problems with controls intended to prevent illicit money flows. Birmingham, England-based Intouch, which operates 11 gambling websites, was acquired in June by Skywind Holdings Ltd., a provider of online gambling software. Intouch in 2019 entered a £2.2 million settlement with the Gambling Commission.

Fanatics is in discussions to acquire the BetParx sportsbook, as the sports merchandising company looks to take a bigger position in sports betting, according to people familiar with the matter. Representatives for Fanatics and BetParx declined to comment. Fanatics has been seeking a deal in the sports betting space for some time. The company is opening Fanatics Sportsbook at FedExField, the stadium of the NFL's Washington Commanders. Last year, Fanatics' billionaire executive chairman Michael Rubin sold his 10% stake in Harris Blitzer Sports Entertainment, the owner of the Philadelphia 76ers and New Jersey Devils, allowing Fanatics to enter the gambling space.

The remarks go against expectations in the gaming industry that FanDuel will cede some of its dominance as new players work to grab a bigger share of the sports betting market. Rubin predicts sports betting and Fanatics' other business segments "could be $8 billion, even in the next decade, in profits." And FanDuel boasts a 42% market share, based on published reports by state gaming regulators. Of the 59 sports betting operators in the U.S. in October, only three had double-digit market share. "Almost 90% of the operators have a sub-2% share of the market," Howe said.

☆ Australian regulator orders audit of bookmakers Sportsbet, Bet365
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

Nov 3 (Reuters) - Australia's financial crime watchdog on Thursday ordered an audit of Sportsbet, the country's largest online betting house operated by Flutter Entertainment (FLTRF.L), and British gambling firm Bet365 to assess their compliance with financing laws. External auditors must report within six months whether the firms are well placed to identify and mitigate money laundering and terrorism financing, conduct risk assessment, and have necessary oversight, the Australian Transaction Reports and Analysis Centre (AUSTRAC) said. Sportsbet continues to invest heavily in AML/CTF (Anti-Money Laundering and Counter-Terrorism Financing Act) compliance and in our people, processes and systems." While Australia's gambling industry has been scrutinized in recent years due to alleged money laundering by its biggest casino operators, online betting has also come under the scanner as its prevalence boomed. Reporting by Shashwat Awasthi and Roushni Nair; Editing by Shinjini Ganguli and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Sports betting salaries: Pay data reveal how much DraftKings, FanDuel, and other companies offer employees for tech and other jobs
▼ + stars: | 2022-10-18 | by ( Colin Salao | Ashley Rodriguez | ) www.businessinsider.com time to read: +10 min

The data are limited to base salaries and US-based jobs for visa-seeking employees. Still, sports betting is as much about sports as it is gambling and tech — growing industries known for high-paying jobs. The data included five US sports betting companies: BetMGM, DraftKings, FanDuel, Penn Interactive, and Rush Street Interactive. It included salaries for jobs such as a data engineer at DraftKings that would make $97,000 per year or more and a sports trading senior manager at FanDuel that would earn $130,000. A FanDuel software engineer based in New York would make $128,440, which is in the range of what TikTok has offered software engineers, the data shows.

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☆ Ladbrokes owner Entain sees higher quarterly online gaming revenue
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: 1 min

Oct 13 (Reuters) - Entain (ENT.L) on Thursday forecast its fourth-quarter online gaming revenue to improve on the prospect of the soccer World Cup set to start next month, while the British gambling firm also reported a marginal rise in its total net gaming revenue. Entain, which owns Ladbrokes and Coral betting shops as well as bwin and partypoker online brands, said total revenue rose 2% in the three-month period ended Sept. 30, but was flat on a constant-currency basis. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sinchita Mitra in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Slots to smartphones: Pandemic sends Australia’s gambling problem online
▼ + stars: | 2022-09-29 | by ( ) www.nbcnews.com time to read: +5 min

Australia’s gambling industry has been in the spotlight in recent years, with public inquiries lashing its biggest casino operators due to lapses in money laundering protections. Online gambling has also been the focus of inquiries, but with its increasing prevalence, the government has answered consumer advocates with a pledge to take a deeper look. Australia overtook Britain, which has nearly three times its population, to rank third by online loss, behind the United States and Japan, said H2. The new center-left federal government this month said it will hold a parliamentary inquiry into online gambling, though some recommendations of a 2015 inquiry are yet to take effect. “At their fingertips they have 24-hour access to gambling online.

Online gambling has also been the focus of inquiries, but with its increasing prevalence, the government has answered consumer advocates with a pledge to take a deeper look. Australia overtook Britain, which has nearly three times its population, to rank third by online loss, behind the United States and Japan, said H2. The new centre-left federal government this month said it will hold a parliamentary inquiry into online gambling, though some recommendations of a 2015 inquiry are yet to take effect. "At their fingertips they have 24-hour access to gambling online. Wareham, the coffee technician, said he no longer uses poker machines and that family responsibilities help him control his online betting.

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