Finance
Michigan sports betting revenue reaches $4.4m in September
Revenue for Detroit’s three commercial casinos rose 26.8% month-on-month in September, with retail sports betting’s contribution hitting $4.4m in its first full month of activity. The Michigan…
ALC 2019-20 revenue down 5.1% as Covid-19 impacts sales
Canadian lottery operator Atlantic Lottery reported revenue of CAD$725.5m (USD$523.3m), down 5.1%, for the fiscal year ended 31 March, as lower jackpots and the impact…
Rush Street Interactive names Sauers as new finance chief
Rush Street Interactive (RSI), the betting and igaming arm of the land-based operator, has appointed Kyle Sauers as its new chief financial officer, with effect…
Iowa sportsbooks set handle record, bring in $5.2m in Sept
Iowa sports betting revenue grew to $5.2m in September as the state broke its record for amounts wagered in a month. The month marked the…
MGM offers $750m in unsecured notes to help refinance debts
Land-based giant MGM Resorts will offer $750m in unsecured senior notes to be repaid in 2028 to help it refinance its existing debts. The operator…
State of the Union: DraftKings, IL, Boyd and more
This week’s State of the Union, in partnership with Segev LLP, covers DraftKings’ efforts to raise $1.66bn, record sports betting figures for the US in…
Ohio casinos register record September
Ohio’s licensed gambling premises enjoyed another record month in September with a 6.1% year-on-year increase in revenue. The state’s casinos and racinos brought in $164.6m…
OR sets betting handle record in September, but GGR declines
Oregon’s SBTech-powered Scoreboard sportsbook set another record for handle at $26.2m in September, but saw revenue fall by 8.1% to $1.5m thanks to a negative…
DraftKings targets $1.66bn from share placement
DraftKings Inc is set to raise a further $600m from the new share placement announced earlier this week, after further details were released. The Boston-headquartered…
Rush Street maintains lead as Illinois betting revenue doubles
Casinos in Illinois took in $7.2m in revenue in August, up 99.6% from July, as players staked $140.1m, up 166.7%, with Rush Street Entertainment continuing…
Record betting figures boost US gaming performance in August
The US gambling industry saw a fourth consecutive month of sequential growth in August as the return of sport generated record betting handle. Figures compiled…
Twin River Q3 earnings set to return to pre-pandemic levels
Twin River revealed the business took a step toward financial normality in the third quarter with revenue set to come in between $100m and $130m, as…
DraftKings looks to raise $1bn in new funding round
Nasdaq-listed sports betting giant DraftKings is looking to raise $1.03bn through a new public offering of common stock. The US group – formed by the…
Caesars offloads Harrah’s Reno to CAI Investments for $41.5m
Caesars Entertainment has completed the sale of its Harrah’s Reno Hotel and Casino property in Nevada to an affiliate of real estate development business CAI…