About the Author
Erich Richter
Latest articles
Penn National Inc. and Barstool Sportsbook Prepare For A Huge 2021
Penn National Inc. agreed to acquire Hollywood Casino in Perryville, Maryland on Tuesday. The $31.1 million deal will allow Penn National to launch its Barstool Sportsbook in another state in 2021. This a crucial purchase for PENN as the company prepares for legalized sports betting in Maryland. On November’s election day, Maryland voters overwhelmingly approved […]
Hard Rock Partners With PokerStars Execs; Preparing For Online Sports Betting
Hard Rock International has put their chips forward, going all-in on the sports betting and digital gaming market. A joint venture with Seminole Gaming will help launch Hard Rock Digital in 2021. Hard Rock Digital intends to join online betting markets and bring innovative technology to the industry. Seminole Gaming owns six luxury casinos within […]
Why Isn’t The NFL Canceling Games Due To COVID-19?
Are you ready for Wednesday matinee football? Ready or not, for the first time, Wednesday will feature a game as 2020 continues to get wackier. Twenty Ravens players are on the COVID-19 list and the reigning NFL MVP himself, Lamar Jackson, has tested positive for COVID-19. The NFL canceling games seems to be out of […]
FanDuel Throws Down the Gauntlet; Reports 46% of Sports Betting Market Share in Q3
FanDuel is claiming dominance over the sports betting industry by way of a Q3 Trading Update posted Thursday by parent company Flutter. According to the update, FanDuel Sportsbook now handles a whopping 46% of market share in the online sports betting world, thanks in part to its customer acquisition. According to the report, FanDuel now […]
Is The Gambling Industry Being Absorbed By Tech?
The gambling industry has been part of our culture for centuries, and not just since the advent of casinos. Historians estimate that gambling began before written history, around 3000 BC when it’s estimated the first six-sided dice were used. According to a 2014 American Gaming Association study, the gambling industry was worth $240 billion, including […]
5 Ways the Pandemic Has Changed Sports Betting
The COVID-19 pandemic has turned our lives upside down and sideways. The sports betting industry has been able to pivot in ways that few expected and companies are taking notice. In the future, we will look back at the COVID-19 pandemic as a major turning point for the sports betting industry. With things constantly in […]
Gambling Stocks Rip Higher on Hopes of COVID-19 Vaccine
Casinos are still reeling from being shut down during the early days of the pandemic, facing gaping holes in revenue streams and an anemic recovery due to continued capacity limitations. COVID-19 has forced gambling companies to change forever out of necessity to stay afloat, which isn’t necessarily a bad thing. COVID-19 resulted in unprecedented chaos […]
MGM Reports $535M Net Loss in Q3; Caesars Continues To Restructure
While Penn National reported strong Q3 earnings, MGM Resorts International did not have the same luck on Thursday. MGM reported revenue of $1.13 billion for Q3 that ended September of 2020. This missed the Zacks Consensus Estimate by 7.61%. It has been a troublesome year for the massive gambling conglomerate. MGM shares have dropped 39.6% […]
Penn National Beats on Earnings; Reports $1.13B in Q3 Revenue
Q3 earnings just dropped for Penn National Gaming this morning and they were strong, as anticipated. The positive results lead to Penn National reporting $1.13 billion in revenue for Quarter 3 slightly beating the consensus expected of $1.1 billion. In Q3, Zacks Consensus estimated a growth of $.48 per share, which is up from $.38 […]
What Does The Selling-Off Of Bally’s Tell Us About Gambling’s Future?
A relatively small brand in the marketplace, Twin River Casino has made its biggest splash to date. In an attempt to revive the Atlantic City casino market, Twin River has purchased Bally’s Casino and its naming rights in perpetuity. This purchase from Caesars Entertainment does not just signal a new era for Bally’s. It signals […]