PENN Entertainment, Inc. (PENN)
- Yahoo Finance Video
Sports betting: '2024 is going to be enormous for us,' BetMGM CEO says
BetMGM (MGM) is set to benefit from the live sports boom in Las Vegas. The digital arm of the casino operator MGM International is often used as a way to funnel online sports gamblers into MGM’s brick and mortar via what the company calls its “omnichannel” approach. Las Vegas is set to host part of the NCAA’s March Madness tournaments in two weeks, and gambling executives think it could make for the most lucrative month ever on the strip. But while Greenblatt is excited for this year's tournament he believes next year's Super Bowl could be an even bigger moment for vegas gambling operators. The Super Bowl is viewed in the industry as the single biggest acquisition moment for sports gambling companies. Having that large of an event in an area where sports gambling laws are looser than other states, would benefit sportsbooks to a level not seen since the legal ban was lifted in 2018. In the video above, Greenblatt sits down with Yahoo Finance's Dave Briggs and Josh Schafer to discuss the opportunity BetMGM sees in the space over the next year. Key video takeaways: 0:10 - Growth expected in 2024 1:00 Expectations for March Madness in 2023
- Business Wire
M Resort Spa Casino Deploys Knightscope (Nasdaq: KSCP) K5 Security Robot
MOUNTAIN VIEW, Calif., February 28, 2023--M Resort Spa Casino deploys Knightscope K5 security robot. Entertainment and Gaming industries use innovation to improve workforce and visitor safety.
- Yahoo Finance Video
DraftKings stock continues to rise after lowering expected losses for 2023
DraftKings (DKNG) stock rose more than 15% on Friday after the company reported its fourth quarter results. Wall Street has closely watched the sportsbook operator's path to profitability for years and on Friday DraftKings announced its increased focus on cost-cutting will cause the company to lose less money in 2023 than initially anticipated. All of this coming while the company continues to report record revenue amid increased gambling legalization. "Our revenue was better than our prior guidance, primarily because of structural improvement in our Sportsbook hold and fundamentally better customer trends than we expected,"DraftKings CFO Jason Park told investors on Friday. "Customers are engaging more with our products and are less relying on promotions." DraftKings positive results didn't have much impact on the sector as a whole as MGM Resorts International (MGM), Penn Entertainment (PENN), Caesars Entertainment (CZR) and Wynn Resorts (WYNN) had muted stock reactions on Friday. Yahoo Finance's Seana Smith and Dave Briggs discuss from DraftKings' fourth quarter earnings call. Key Video takeaways: 0:15 DraftKings key numbers 0:25 Hear from DraftKings CFO Jason Park 1:00 Where DraftKings sits in the growth cycle 1:20 Wall Street's reactions to DraftKings results 2:00 How DraftKings compares to competitors
