Fertitta Unlikely to Pursue Wynn Takeover, Says Analyst
Tilman Fertitta increased his stake in Wynn Resorts (NASDAQ: WYNN) to nearly 10% of the shares outstanding, but one analyst believes the Golden Nugget chief executive officer is unlikely to purse an acquisition of his rival. Billionaire businessman Tilman Fertitta. He’s unlikely to pursue an outright acquisition of Wynn Resorts. (Image: Bloomberg) In a new […]
Endeavor CEO Ari Emanuel Buys Sports Betting Units at Big Discount
Endeavor Group Holdings, Inc. (NYSE: EDR) announced that it’s selling its IMG Arena and OpenBet sports betting businesses to a group led by CEO Ari Emanuel. The sale price is $450 million. Endeavor CEO Ari Emanuel is leading a group that’s acquiring OpenBet and IMG Arena for $450 million. (Image: Getty) OB Global Holdings LLC […]
Investor Jason Ader Jet Sets Around the World While Facing Lawsuits
Jason Ader, the founder of a blank-check company that attempted to bring the Okada Manila casino resort public, is gallivanting around the world while facing litigation, including from his mother, as clients of his hedge fund demand their cash be returned to them. Investor Jason Ader has been spotted traveling the world as his hedge […]
Golden Entertainment Hints at Real Estate Sales
Shares of Golden Entertainment (NASDAQ: GDEN) rose on Friday after executives hinted they’re examining avenues for monetizing the casino operator’s real estate assets. Golden Entertainment’s Strat Las Vegas. The operator said it is examining options for real estate holdings. (Image: Vegas Means Business) The comments were made on a conference following the company’s third-quarter earnings […]
Bally’s Selling Asia Digital Gaming Operations
Bally’s (NYSE: BALY) said it is selling its Asian interactive gaming business, which also operates in other markets, to a group comprised of executives from the to-be-divested entity. Bally’s on the Atlantic City Boardwalk. The company is selling its Asian interactive unit. (Image: Press of Atlantic City) Financial terms of the transaction weren’t disclosed, but […]
Caesars Unloading LINQ Promenade for $275 Million
Caesars Entertainment (NASDAQ: CZR) announced that it is selling the LINQ Promenade on the Las Vegas Strip for $275 million as part of the gaming company’s ongoing debt reduction efforts. Caesars’ LINQ Promenade in Las Vegas. The company is selling the venue for $275 million. (Image: Vegas Means Business) A joint partnership comprised of TPG […]
Oakland A’s Mulling Stake Sale at $2B Valuation
Ahead of the team’s move to Las Vegas, the soon-to-be former Oakland Athletics (A’s) are rumored to be considering the sale of a minority interest in the franchise. The exterior of the Oakland Coliseum. Athletics owner John Fisher is reportedly considering selling 25% of the team before its move to Las Vegas. (Image: Complex) Unidentified […]
Golden Entertainment Could Mull Sale-Leaseback on Unidentified Casino
Golden Entertainment (NASDAQ: GDEN) could consider selling and leasing back one of its casinos as an avenue for raising cash. Golden Entertainment’s Strat Las Vegas. An analyst says the operator could engage in a sale-leaseback on one of its casinos. (Image: OnTheStrip.com) Deutsche Bank analyst Carlo Santarelli put forth that theory in a new report […]
Sports Betting M&A to Be Driven by New Products, Tech, Says Expert
Mergers and acquisitions activity in the North American sports betting industry has been brisk this year with operators making buys to add technology and exposure to new arenas. The famous charging bull on Wall Street. Investment bankers could be busy with sports betting mergers and acquisitions in 2025. (Image: Reuters) At least one expert believes […]
Tahoe Biltmore Casino Set for Auction, Waldorf Astoria Redevelopment in Question
The next chapter of the storied Tahoe Biltmore Lodge & Casino is in jeopardy after the development group that acquired the historic property in 2021 defaulted on a more than $100 million loan. The Tahoe Biltmore has sat closed for almost two and a half years. Its future remains unknown after a developer who had […]
