People walk by a banner outside of the New York Stock Exchange for the initial public offering of Flutter Entertainment, the parent company of FanDuel, on Jan. 29, 2024. Spencer Platt | Getty Images FanDuel parent Flutter Entertainment will spend $2.6 billion (2.3 billion euros) to acquire Italian gambling company Snaitech from Playtech, adding to … Read more
A DraftKings Sportsbook logo is posted on the right field wall of Chicago’s Wrigley Field before a game between the Chicago Cubs and Philadelphia Phillies on Sept. 27, 2022. John J. Kim | Tribune News Service | Getty Images Sports betting is continuing its integration into modern sports culture, and industry leaders do not expect … Read more
Justin Sullivan | Getty Images DraftKings and another gambling company were fined a total of $22,500 by the state of Connecticut for operating an online slot machine game that failed to pay any winners on more than 20,600 spins over one week in August 2023. The game, Deal or No Deal Banker’s Bonanza, was advertised … Read more
Joe Milton III #19 of the New England Patriots scrambles from the pressure of Kyu Blu Kelly #36 of the Washington Commanders during the third quarter of a preseason game at Commanders Field on August 25, 2024 in Landover, Maryland. Scott Taetsch | Getty Images Sport | Getty Images Football is back, and it’s expected … Read more
Flutter reported phenomenal second-quarter earnings this week, wowing investors and sending shares up about 8% Wednesday as the company’s FanDuel betting platform captures market share and grows revenue dramatically, even in well established states with sports betting and online gaming. But it was the declaration that FanDuel will not add a surcharge to offset an … Read more
Budrul Chukrut | SOPA Images | Lightrocket | Getty Images Mobile betting powerhouse DraftKings is planning a tax on consumers in states with the highest sports betting tax rates, as the company looks to boost profit. The company announced Thursday that starting next year it will implement a gaming surcharge on winning bets in states … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks tumble: It’s another tough day on Wall Street with the S & P 500 giving back roughly all its gains from Wednesday and for the … Read more
The Olympic Rings being placed in front of the Eiffel Tower in celebration of the French capital won the hosting right for the 2024 Summer Olympics. Sopa Images | Lightrocket | Getty Images Sportsbooks and daily fantasy operators are preparing for a Summer Olympics bump. The games in Paris, set to start July 26, will … Read more
Trustly CEO Johan Tjarnberg. Trustly The boss of Swedish financial technology startup Trustly says an initial public offering for the company is still a year or two away from happening, even after a 51% jump in operating profit. In an exclusive interview with CNBC, Johan Tjarnberg, CEO of Trustly, said that his firm still needs … Read more
Shares of Wynn Resorts popped 2% in after-hours trading Tuesday after the casino operator reported stronger-than-expected quarterly results, driven by the Super Bowl in Las Vegas and the recovery in China’s Macao region. We’re surprised the stock isn’t up more. Operating revenue increased 31% year over year, to $1.86 billion, beating expectations of $1.79 billion, … Read more
