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☆ FanDuel says Iowa-LSU game was its biggest betting event of all time for women's sports
▼ + stars: | 2024-04-02 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

The superstar women's college basketball matchups Monday night attracted more than just viewers — the games also set new sports betting records. FanDuel tells CNBC that the Louisiana State University versus Iowa game was its biggest betting event of all time for women's sports. 1 betting event Monday, ahead of all National Basketball Association, Major League Baseball and National Hockey League games, FanDuel said. The women's basketball games were its top two events last night, ahead of every MLB and NBA game, a spokesperson told CNBC. BetMGM also had a big night, saying the Iowa-LSU matchup was its most bet-on women's basketball game ever.

Persons: Caitlin Clark, FanDuel, sportsbooks, Monday's, Angel Reese, Kim Mulkey, Paige Bueckers, Karol Corcoran, FanDuel Sportsbook, DraftKings, BetMGM, Seamus Magee Organizations: Iowa Hawkeyes, Lousiana State University Tigers, NCAA, Arena, CNBC, Louisiana State University, Iowa, ESPN, American Gaming Association, Monday's LSU, National Basketball Association, Major League Baseball, National Hockey League, University of Connecticut, University of Southern, MLB, NBA, NFL, LSU, UConn, NC State, Wolfpack Locations: Albany , New York, Iowa, University of Southern California, BetMGM, South Carolina

☆ Bally's shareholders wage battle over ownership, 'unfunded development projects'
▼ + stars: | 2024-04-02 | by ( Contessa Brewer | ) www.cnbc.com time to read: +5 min

In this article BALY Follow your favorite stocks CREATE FREE ACCOUNTAn exterior view shows the Tropicana Las Vegas at dusk on March 29, 2024 in Las Vegas, Nevada. David Becker | Getty ImagesAs the famous Tropicana in Las Vegas closes its doors Tuesday, its operator Bally's Corporation is facing its own existential battle. Standard General owns about 23% of Bally's stock, it said last month. An exterior view shows the Tropicana Las Vegas on March 29, 2024, in Las Vegas, Nevada. Bally's market cap stands at little more than half a billion dollars.

Persons: David Becker, Soo Kim, Kim, it's, Dan Fetters, Edward King, Fetters, King, Bally's, It's, George Rose, Chris Grove, Jim Murren, Jess Golden Organizations: Tropicana, Getty, Bally's, Standard, Growth Capital, Las, Trump, Tahoe, Chicago, Major League Baseball's Athletics, Leisure Properties, New, Acies, MGM Resorts International, CNBC Locations: Las Vegas , Nevada, Las Vegas, New York City, Stateline , Nevada, Seminole, Florida, Nevada, Oakland, Vegas

☆ The success of women's college basketball is only going to help the WNBA, says Patrick Rishe
▼ + stars: | 2024-04-01 | 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 EmailThe success of women's college basketball is only going to help the WNBA, says Patrick RishePatrick Rishe, Washington University in St. Louis director of sports business program and Sportsimpacts founder and president, joins 'Squawk Box' to discuss the latest in the NCAA March Madness tournament, the impact on the sports betting landscape, the value of streaming live sports, and more.

Persons: Patrick Rishe Patrick Rishe, Louis Organizations: Washington University Locations: St

☆ Sports Leagues Bet on Gambling. Now They’re Facing Its Risks.
▼ + stars: | 2024-03-30 | by ( Lauren Hirsch | Ephrat Livni | ) www.nytimes.com time to read: +1 min

The incidents have highlighted a trade-off that professional sports leagues made when they embraced gambling. Leagues have signed lucrative marketing deals with betting apps like FanDuel and DraftKings and use gambling to amp up fan engagement. “The risk is that the game becomes like professional wrestling — which is rigged. And nobody bets on professional wrestling,” said Fay Vincent, the M.L.B. “And if baseball becomes professional entertainment the way wrestling is, it’s dead.”

Persons: ”, Fay Vincent Organizations: Major League Baseball, National Basketball Association, Leagues

☆ MLB commissioner hopes Shohei Ohtani investigation is short, ‘but I just don’t know’
▼ + stars: | 2024-03-29 | by ( Ben Morse | Jill Martin | ) edition.cnn.com time to read: +4 min

CNN —Major League Baseball commissioner Rob Manfred said on Thursday that he hopes the league’s investigation into superstar Shohei Ohtani is short, “but I just don’t know” how long it will take. The build-up to the new MLB season was overshadowed following the recent gambling scandal involving Ohtani and his former longtime interpreter Ippei Mizuhara. The Internal Revenue Service and Major League Baseball are investigating the matter, with the league trying to determine whether its strict rules against gambling have been broken. MLB commissioner Manfred can also penalize someone who goes outside legal sports betting entities and gambles with a bookie. The situation involving Ohtani has raised further questions abouts sport’s relationship with betting in the US as the industry continues to grow.

Persons: Rob Manfred, Shohei Ohtani, Ohtani, Ippei, Mizuhara, Manfred, Chris ‘, ’ Russo, Ron Jenkins, Tisha Thompson, gambles, abouts, ”, Russo, “ Organizations: CNN — Major League Baseball, MLB, Dodgers, ESPN, Los Angeles Times, baseball’s, League, MLB Network, American League, Baltimore Orioles, Texas Rangers, Internal Revenue Service, Major League Baseball, NFL, “ Sports Locations: South Korea, Seoul, Ohtani, United States

☆ Why the Shohei Ohtani story is so concerning for baseball and sports
▼ + stars: | 2024-03-29 | by ( Harry Enten | ) edition.cnn.com time to read: +10 min

CNN —I can’t recall a recent baseball story that has captured the public imagination like the current one involving Los Angeles Dodgers phenom Shohei Ohtani, his former translator Ippei Mizuhara and gambling. That said, assuming Ohtani has done nothing wrong, America’s pastime will emerge from this situation mostly unscathed. Ohtani stalls at second base after hitting a double during the first inning of a game against the St. Louis Cardinals. Yes, one team is favored to win, but we don’t know that team will win for sure. And if it occurs involving someone as beloved as Ohtani, it could be a disaster for not just baseball, but sports around the globe.

Persons: Shohei Ohtani, Ippei, –, Ohtani, Will Ireton, Kirby Lee, Reuters Ohtani, it’s, Mike Trout, didn’t, I’ll, won’t, Sean M, I’m, It’s, they’ve, We’ve, Brad Bohannon, Bohannon, Jontay Porter, bettors, Porter, ” Porter wasn’t, Stu Foster, Sandro Tonali, Phil Mickelson, Pete Rose, Shoeless Joe Jackson –, Rose, Jackson, Tyrese Haliburton, JB Bickerstaff, Charlie Baker, Ezra Shaw, Rob Manfred, David, Goliath Organizations: CNN, Los Angeles Dodgers, Major League, Dodgers, USA, Sports, Reuters, League, Baseball, St, Louis Cardinals, American, NFL, Former University of Alabama, Alabama, Toronto Raptors, Italian Football Federation, England’s Football Association, Newcastle United, Major League Baseball, Cincinnati Reds, Black Sox, Chicago White Sox, Famers, Bettmann, Indiana Pacers, Cleveland Cavaliers, NBA, Getty Images, American Gaming Association, Census, MLB, MLB Network Locations: United States, Nevada, Bohannon, Italy, Tonaly, England

☆ Industry can't overlook recreational sports betting demand: Sharp Alpha Advisors' Danzig
▼ + stars: | 2024-03-27 | 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 EmailIndustry can't overlook recreational sports betting demand: Sharp Alpha Advisors' DanzigHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Brian Sullivan, “ Organizations: Sharp Alpha Advisors, CNBC

ROGA members commit to work together on issues ranging from education, responsible gaming best practices, conscientious advertising and marketing across the industry. Justin Sullivan | Getty ImagesROGA says it will create a certification program to assess members' responsible gaming efforts and provide an incentive for operators to participate. Problem gamblingAn estimated 2 million U.S. adults meet the criteria for a severe gambling problem, according to the National Council on Problem Gambling. Another 5 million to 8 million U.S. adults are considered to have a mild or moderate gambling problem. Problem gambling prompted regulatory crackdowns in Europe and especially in the United Kingdom over the last couple years, impacting sportsbooks' profitability and changing the way they conduct business.

Persons: —, Jennifer Shatley, ROGA, Justin Sullivan, Shohei Ohtani, Ohtani, he's, Jontay Porter, There's, Paul Tonko, Tonko, PrizePicks, FanDuel, Milton Thompson, CNBC it's, it's, Silquia Patel, Eduardo Munoz Organizations: MGM PENN, Penn Entertainment, Online Gaming Association, D.C, Super, Los Angeles Dodgers, NBA, Toronto Raptors, Integrity, Temple University, National Council, . Rep, CNBC, DraftKings, Indiana Gaming, Caesars, American Gaming Association Locations: BetMGM, United States, Washington, Europe, United Kingdom, New York, Indiana, Rhode, Kentucky, East Rutherford , New Jersey, U.S

☆ Shohei Ohtani plays in Dodgers’ loss to Angels after addressing gambling and theft allegations against former interpreter
▼ + stars: | 2024-03-26 | by ( Homero De La Fuente | ) edition.cnn.com time to read: +2 min

CNN —Japanese two-way star Shohei Ohtani went hitless for a second straight game as the Los Angeles Dodgers fell to the Los Angeles Angels 6-0 on Monday at Dodger Stadium. Before the game, the two-time MVP spoke publicly for the first time since gambling and theft allegations against his former interpreter, Ippei Mizuhara, came to light last week. Ohtani prepares to bat against the Los Angeles Angels on Monday. The Internal Revenue Service and Major League Baseball are investigating the matter, with the league trying to determine whether its strict rules against gambling have been broken. The Dodgers will close out the three-game exhibition against the Angels on Tuesday.

Persons: Shohei Ohtani, Ohtani, Ippei Mizuhara, “, I’ve, ”, Will Ireton, Mizuhara, ” Ohtani, Jae C, gambles, ESPN’s Tisha Thompson Organizations: CNN, Los Angeles Dodgers, Los Angeles Angels, Dodger, Dodgers, ESPN, Internal Revenue Service, Major League Baseball, American League, Angels Locations: South Korea

☆ The Ohtani scandal is the greatest gambling scandal in baseball since Pete Rose, says Keith O'Brien
▼ + stars: | 2024-03-25 | 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 EmailThe Ohtani scandal is the greatest gambling scandal in baseball since Pete Rose, says Keith O'BrienKeith O’Brien, ‘Charlie Hustle’ author, joins 'Squawk Box' to discuss the business of sports betting, why he believes the parallels between Shohei Ohtani's interpreter and Pete Rose's gambling scandal are uncanny,

Persons: Pete Rose, Keith O'Brien Keith O’Brien, ‘ Charlie Hustle, Pete Rose's

• But after the interview, Ohtani’s spokesperson “disavowed” Mizuhara’s account, then released a statement saying Ohtani had been the victim of theft. • Later on Wednesday, Mizuhara was fired as Ohtani’s interpreter. ESPN’s Thompson said the interpreter and Ohtani’s representatives did “a big 180” in what they were telling her. At first, Ohtani’s spokesperson told ESPN the player had transferred money to help pay off Mizuhara’s gambling debts, the outlet reported. “I’ve been told (Mizuhara) says something to the effect of ‘I’m sorry.

Persons: Shohei Ohtani, Ippei, “, Mathew Bowyer, Scott Villiard, Bowyer, Diane Bass, Ohtani, ”, Dave Roberts, • Mizuhara, Mizuhara, Ohtani’s, Bowyer “, ‘, Bass, “ Mathew Bowyer, ” Bass, ” Mizuhara, Tisha Thompson, Thompson, –, ESPN’s Thompson, Berk Brettler, Shohei, “ I’ve, ’ ” Thompson Organizations: CNN — Major League Baseball, Internal Revenue Service, Angeles Dodgers, ESPN, Los Angeles Times, “ Major League Baseball, Department of Investigations, IRS, Angeles Field Office, CNN, Los Angeles Dodgers, Dodgers, Ohtani’s, San Diego Padres, MLB, Ohtani, Padres, ” CNN, “ feds, Los Angeles Angels, Shohei’s, Angels, The Dodgers, Nippon, Ham Fighters, Japan’s Nippon Professional Baseball League Locations: California, Seoul, South Korea, San Diego, Mizuhara’s, Ippei

AUSTIN, Texas (AP) — Five races into NASCAR's 2024 season and Ford is in a funk. A Ford win in Austin would seem like a long shot in NASCAR's fourth run on a track built for Formula One. Photos You Should See View All 60 ImagesAnd while it’s still early, Ford drivers make up just three of the 16 available Cup playoff spots. Ford drivers point to some solid statistics, even if the major results are lacking. NASCAR vs F1The Circuit of the Americas is the only track used by NASCAR and F1, but the two racing series have vastly different styles.

Persons: Ryan Blaney, “, Tyler Reddick, Shane van Gisbergen, Chase Elliott, it’s, Blaney, haven’t, ”, Chris Buescher, We’ve, we’ve, ” Buescher, Chase Briscoe, Stewart, Haas, we've, ” Briscoe, Briscoe, Ford, van Gisbergen, It’s, Reddick, COTA, there's, I've, ” Reddick, they’ve, FanDuel Organizations: Ford, NASCAR, Circuit, Formula One, Toyota, RFK Racing, Haas Racing, Fords, Blaney's, COTA Locations: AUSTIN, Texas, Atlanta, Austin, Victory, Americas

The percentage kept, called the hold rate, has been steadily climbing over time, with 2023’s national average at 9.1% of the money bet. If gamblers bet around $3 billion on March Madness, then states will pocket over $50 million dollars in extra revenue just from a three-week basketball tournament. Meanwhile, the number of calls to the National Problem Gambling Helpline lasting more than a minute has increased sharply in recent years. While not every state and bank allows credit cards to fund a sports betting account, many do. Anyone with an online gambling account would need to prefund their account with cash.

Persons: Jay L, Zagorsky Organizations: Statehouse, Sports Betting, Boston University Locations: Massachusetts

☆ A middle school PTA treasurer stole almost $30,000 from a student-led fundraiser to bet on DraftKings and FanDuel
▼ + stars: | 2024-03-17 | by ( Lauren Edmonds | Kenneth Niemeyer | ) www.businessinsider.com time to read: +4 min

A Maryland man stole $29,000 in proceeds from a middle school fundraiser. AdvertisementA Maryland man stole $29,000 in proceeds from a middle school fundraiser. James Michael Harris, who was the treasurer for the parent-teacher-student association at Stemmers Run Middle School, pleaded guilty to theft in March 2024. BCPS and Stemmers Run Middle School are not responsible for its debts," the school said in a statement. Representatives for Baltimore County Public Schools, World's Finest Chocolates, DraftKings, FanDuel, The Baltimore County State Attorney's Office, and the Baltimore County Police Department did not immediately respond to a request for comment from BI.

Persons: —, James Michael Harris, Harris, FanDuel, Rosemary Roos, Roos, Whitney Organizations: Maryland, Baltimore Banner, Service, Middle, Police, Business, The National Council, University of Buffalo, Middle School, Baltimore County Public Schools, Baltimore County, Attorney's Office, Baltimore County Police Department, Whitney, Baltimore Locations: Baltimore

☆ Betr CEO Joey Levy: We've gone out of our way to simplify the sports betting experience
▼ + stars: | 2024-03-15 | 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 EmailBetr CEO Joey Levy: We've gone out of our way to simplify the sports betting experienceHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Joey Levy, We've, Brian Sullivan, “ Organizations: CNBC

ATLANTIC CITY, N.J. (AP) — Internet gambling revenue continues to soar in New Jersey, where online casinos are accounting for a growing share of the betting pie: Atlantic City's casinos and their online partners won $182 million in internet bets in February. But the news was not all good: Atlantic City's nine casinos won $211.5 million from in-person gamblers, down 1.6% from a year earlier. Bally's won nearly $19 million, up nearly 5%; Harrah's won $18.7 million, down 11%; Caesars won $16.2 million, down 15.5%; and Resorts won $12.1 million, down 4.3%. In terms of in-person revenue, Borgata won $53.6 million, down 6.7%; Hard Rock won $41.1 million, up 9.6%; Ocean won over $31 million, up over 18%; Harrah's won $18.2 million, down 14.7%; and Tropicana won $16.6 million, down 3.1%. Caesars won $16.4 million, down 13.7%; Resorts won $12.2 million, down 3.6%; Golden Nugget won $11.6 million, up 4:, and Bally's won $10.6 million, down over 13%.

Persons: ”, Jane Bokunewicz, Bally's, Harrah's, Borgata, Wayne Parry Organizations: CITY, of Gaming Enforcement, Atlantic, Atlantic City, Golden, Ocean, Tropicana, Caesars, Resorts, Resorts Digital, Caesars Interactive Entertainment Locations: N.J, New Jersey, www.twitter.com

☆ Rudy Gobert: Minnesota Timberwolves center handed $100,000 fine after appearing to make money gesture at a referee
▼ + stars: | 2024-03-11 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +3 min

CNN —Three-time NBA Defensive Player of the Year Rudy Gobert has been fined $100,000 after he appeared to make a money gesture towards an official during the Minnesota Timberwolves’ 113-104 overtime loss against the Cleveland Cavaliers on Friday. The action appeared to be directed at referee Scott Foster who had handed out the foul. And although Foster missed it, fellow official Natalie Sago saw Gobert’s gesture and assessed a technical foul to the center, which proved to be costly for Minnesota. The $100k fine is a significant step up from the $25,000 fine that he was handed for his third offense in 2023. Minnesota assistant coach Micah Nori, who was filling in for head coach Chris Finch due to illness, described the gesture as unacceptable and lamented the timing of the technical foul call.

Persons: Rudy Gobert, ”, Gobert, Frenchman, Scott Foster, Foster, Natalie Sago, Darius Garland, Ken Blaze, “, “ I’ll, “ It’s, he’s, Micah Nori, Chris Finch, “ That’s, Rudy, you’ve Organizations: CNN, Minnesota Timberwolves ’, Cleveland Cavaliers, NBA, Timberwolves, Cavaliers, Wolves, Reuters, ESPN, National Basketball Locations: Minnesota, Cleveland

Ron DeSantis that gave the tribe exclusive rights to run sports wagers as well as casino gambling on its reservations. The companies sued Deb Haaland, secretary of the U.S. Department of Interior, which oversees tribal gambling. State economic forecasters predict the revenue sharing from tribal gaming could total $4.4 billion through the end of this decade. The pari-mutuel firms also sued DeSantis and leaders of the Florida Legislature, which authorized the compact, in a case pending before the Florida Supreme Court. The tribe argued the legislature has the authority to decide where online gambling is initiated and the amendment doesn't change that.

Persons: Ron DeSantis, Deb Haaland, DeSantis, Seminole Tribe, Daniel Wallach, Jason Molina, ” Molina, “ It’s, ___ Daniel Kozin, Mike Schneider Organizations: Seminole, Supreme, West Flagler Associates, Fort Myers Corporation, U.S . Department of Interior, U.S, Florida Constitution, Florida Legislature, Florida Supreme, Casinos, DeSantis, Seminole Tribe, State Locations: ORLANDO, Fla, Florida, U.S, Bonita, South Florida, Miami, Hollywood , Florida

☆ Lily Gladstone for Best Actress? Oscars Gamblers Are Betting Big.
▼ + stars: | 2024-03-09 | by ( Hallie Lieberman | ) www.nytimes.com time to read: +1 min

On Feb. 23, John Richards traveled more than 100 miles to place bets on the Oscars. He took a train from Washington, D.C., to Wilmington, Del., and then hopped into an Uber car to take him to a truck stop in New Jersey. Mr. Richards, a 40-year-old statistician at Red Carpet Rosters, a fantasy league site for film awards, has been betting on the Oscars since 2016. Before his trip to the New Jersey truck stop, he had already wagered $2,750 on this year’s awards. In the United States, where gambling is regulated at the state level, seven states allow Oscar betting: Arizona, Indiana, Kansas, Louisiana, Massachusetts, Michigan and New Jersey.

Persons: John Richards, Lily Gladstone, “, Maestro ”, “ Oppenheimer ”, Yoko ”, Richards, Gladstone, Emma Stone Organizations: Washington , D.C, Music, John, Sports, District of Columbia Locations: Washington ,, Wilmington, Del, New Jersey, United States, Arizona , Indiana , Kansas , Louisiana , Massachusetts, Michigan

☆ Private-equity and VC investors look to sports, AI, and live events as the era of peak TV draws to a close
▼ + stars: | 2024-03-07 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

That was a far steeper decline than the overall venture funding market, which declined 38% in 2023, the report said. (The report was based on data from Crunchbase, which Alignment Growth is an investor in.) Investors have been flocking to AI, live entertainment, and sports. Sports M&A nearly tripled in three years to $27.9 billion in 2023, driven by deals for team franchises, the Alignment Growth report showed. High ticket prices for live entertainment could dampen attendance, especially if consumer confidence takes a hit.

Persons: Wade Holden, Anthony Jasenski, CBRE's, Jasenski, haven't, IATSE, Alex Iosilevich, Schlogel, Craig Thompson Organizations: Venture, Business, Disney, Warner Bros, Global, P Global Market Intelligence, Blackstone, Bain Capital Real, Deloitte, Teamsters, Hollywood, Investors, Sports, Atwater, Mindspring Capital Locations: Hollywood, Crunchbase, Americas, OpenAI

Speaking at the Next.io forum on internet gambling and sports betting, several mentioned New York and Maryland as likely candidates to start offering internet casino games soon. And some noted that, despite years of difficulty crafting a deal that satisfies commercial and tribal casinos and card rooms, California is simply too big a market not to offer internet gambling. Shawn Fluharty, a West Virginia state delegate and chairman of a national group of legislators from gambling states, listed New York and Maryland as the most likely states to add internet gambling soon. Both men acknowledged the difficulty of passing online casino legislation; Thirty-eight states plus Washington, D.C., currently offer sports betting, compared to seven with internet casino gambling. Fluharty said four casinos opened in Pennsylvania after the state began offering internet casino gambling.

Persons: ”, Rob Heller, Shawn Fluharty, Brandt Iden, Iden, Fluharty, Joseph Addabbo, Kathy Hochul, Edward King, ” Adam Greenblatt, “, Wayne Parry Organizations: Spectrum Gaming Capital, West Virginia ., Betting, Gaming, Washington , D.C, New, Acies Investments, BetMGM Locations: U.S, New York, Maryland, California, Rhode, New Jersey , Connecticut, Delaware , Pennsylvania, Michigan, West Virginia, West Virginia . Nevada, Washington ,, Pennsylvania, Texas, www.twitter.com

☆ The rise of 'zombie' VCs puts startups that took funding from them in a difficult spot
▼ + stars: | 2024-03-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

What's on deckAdvertisementBut first, zombie, zombie, zombie-ie-ie-ie. AdvertisementThat's why zombie VCs pose such a problem for the industry. Sussing out the prudent investor from the penniless one takes time and effort, two things startups can't necessarily afford when times are tough. AdvertisementIs having a zombie VC as an investor the equivalent of a scarlet letter? If a partner jumps ship from a zombie VC, startups they backed will be in a tough spot.

Persons: —, here's, Insider's Ben Bergman, Ben, it's, Alyssa Powell, Morgan Stanley, Goldman Sachs, Ray Dalio isn't, Sundar Pichai, Marissa Mayer, Yahoo's, Cory Doctorow, He's, Smashmallow, they've, Jack Teixeira, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, BI, Bridgewater, Bank of America, Trading, Google, Canadian, Singapore Locations: There's, Silicon Valley, British, Singapore, Israel, New York, London, Chicago

☆ Sports Gambling Was a Gateway Drug to Online Gambling and the Lottery
▼ + stars: | 2024-03-03 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

As the prevalence of online betting grows, there's plenty of revenue to be had. The more people gamble — and the more culturally acceptable gambling becomes — the more possibility gambling addiction becomes a bigger issue. Of course, as fun as sports gambling is — as is gambling in general — it has some serious downsides for society. According to the National Council on Problem Gambling, 2 million Americans have a severe gambling problem, and another 4 million to 6 million a mild or moderate problem. The more people gamble — and the more culturally acceptable gambling becomes — the more possibility gambling addiction becomes a bigger issue.

Persons: Lia Nower, DraftKings, Jason Robins, iGaming, Robins, DraftKings isn't, —, West Virginia —, Chad Beynon, Benyon, they're, Nower, Chris Grove, Grove, There's, let's, I've, legalizes iGaming, Emily Stewart Organizations: Knicks, Sports, Disney, American Gaming Association, NBA, NFL, Center for Gambling Studies, Rutgers University, Golden Nugget, Caesars, MGM, Macquarie, Companies, Atlantic City, Acies Investments, EKG Ventures, Vegas, National Council, Business Locations: Washington, Boston, Dublin, — New Jersey , Connecticut, Delaware , Michigan, Rhode Island , Pennsylvania, West Virginia, New York, Atlantic, New Jersey, Jackpocket, America

Loop Capital initiated Dell Technologies with a buy rating and a price target that implies more than 35% upside. Analyst Stephen Grambling hiked his price target by $9 to $49, while keeping his rating at overweight. Salesforce has popped nearly 14% in 2024, extending gains after the stock price came close to doubling in 2023 alone. Roseka's price target of $27.10 shows the potential for just 3.6% in upside compared with Tuesday's ending price. Analyst Ananda Baruah initiated coverage of the technology stock with a buy rating and a $125 price target.

Persons: Stifel, Smucker, Raymond James, Rick Patel, Patel, — Alex Harring, Kenneth Worthington, Worthington, Alex Harring, Morgan Stanley, Stephen Grambling, DKNG's, Grambling, DraftKings, Jackpocket, Morgan, Wednesday's premarket, Goldman, Goldman Sachs, Kash Rangan, Rangan, Bernstein, Daniel Roeska, Stellantis, Roseka, KeyBanc, Sophie Karp, CEG, Karp, Matthew Smith, Smith, Fred Imbert, Dell, Ananda Baruah, DELL, Baruah Organizations: CNBC, Dell Technologies, FactSet, Apollo Global Management, JPMorgan, APO, Grambling, Constellation Energy, Constellation, Dell, Capital, DELL Locations: Tuesday's, Wednesday's premarket, Grambling, Wednesday's, Salesforce, Netherlands, U.S, Europe

☆ Here are Friday's biggest analyst calls: Rivian, DraftKings, Nio, Fox, Carvana, Pfizer and more
▼ + stars: | 2024-02-23 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

Here are Friday's biggest calls on Wall Street: UBS double-downgrades Rivian The firm said to sell the electric vehicle maker's stock, joining a growing group of concerned analysts following the company's earnings report. Raymond James upgrades Carvana The investment bank moved Carvana to market perform from underperform following the fourth-quarter earnings results. Guggenheim initiates Pfizer The firm opened coverage of the biopharmaceutical stock with a buy rating and $36 price target. " Rosenblatt initiates Adeia The firm began coverage with a buy rating and $15 price target. Roth MKM initiates CPI Card Group Roth MKM started coverage of the financial technology stock with a buy rating and $40 price target.

Persons: Ross, ROST, Raymond James, EBITDA, 4Q23, Guggenheim, ATNI, Morgan Stanley, Brighthouse, Rosenblatt, Roth MKM, Fred Imbert Organizations: UBS, Barclays, CNBC, Citi, Fox, JV, Ross, Price, Pfizer, DRG, Equitable, JPMorgan, Traction, JPMorgan downgrades Locations: 1Q24, Xperi, 4Q22

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