News

Japanese policymakers are rumored to be holding internal talks about expanding the country’s regulated sports betting offerings to include the popular baseball and soccer leagues — a move that, if made, could result in a sports wagering market worth an estimated $65 billion. Scenes from Japan’s Nippon Professional League. The country is rumored to be mulling a big sports betting expansion. (Image: Bleacher Report) Unidentified sources tell the Financial Times wagering on the Nippon Professional League — one of the world’s most competitive baseball associations after Major League Baseball (MLB) — could happen as soon as 2024, with broader betting on J-League soccer occurring in the same year. Betting on …

DraftKings (NASDAQ:DKNG) continues moving further into the media landscape, announcing today it reached a content distribution agreement with Meadowlark Media. Meadowlark Media is the owner of Dan Le Batard’s network of shows. Podcast host Dan LeBatard pictured during a show above. DraftKings is partnering with him to reach more bettors. (Image: Sporting News) Financial terms of the agreement, which also includes monetization and sponsorship aspects, weren’t disclosed. But unidentified sources told The Wall Street Journal the sportsbook operator is doling out $50 million for the pact with Meadowlark. Boston-based DraftKings will distribute The Dan Le Batard Show with Stugotz and the Le Batard & Friends Network to a variety of …

Entain Plc (OTC:GMVHY) is making another run at Tabcorp’s betting and media businesses, raising its acquisition bid to $2.7 billion from $2.28 billion. A Ladbrokes betting shop in the UK. Owner Entain increased its takeover bid for Tabcorp. (Image: The Guardian) Both companies confirm the revised proposal. The new offer from UK-based Entain arrives about a month after the Australian target rejected the initial $2.28 billion overture, calling it inadequate. Tabcorp isn’t saying much about the new bid, aside from that it’s being evaluated. “The revised proposal continues to be subject to numerous conditions, including due diligence, arranging financing, receipt of all relevant regulatory approvals, and obtaining various third party …

The sports betting and daily fantasy operator DraftKings has launched a channel on the satellite television provider SLING TV streaming service. The move comes nearly two months after DraftKings announced its agreement with DISH Network, SLING TV President Michael Schwimmer said the recently launched DraftKings network is a way for the streaming TV provider to offer the “ultimate entertainment experience for sports fans.” (Image: SLING TV) The first channel is the DraftKings Basketball channel. Available on SLING’s subscription and free services, the channel provides viewers with real-time scores and updated in-game odds on NBA games. This new channel is just the beginning of how we plan to bring the DraftKings …

Penn National Gaming (NASDAQ:PENN) is finding unique ways to capitalize on its stake in Barstool Sports. It is now entering the hot non-fungible token (NFT) space with an image of the media company’s founder, David Portnoy. Barstool Sports founder David Portnoy pictured at an event above. He’s selling an NFT to drum up interest in Barstool Sportsbook. (Image: Variety) The brash, ubiquitous Portnoy, famed for his reviews of local pizzerias, is the centerpiece of the NFT called “One Bite Pizza Review of Blocks Pizza Deli (Miami) — Featuring Guy With No Arms.” “Dave reviews Blocks Pizza in Miami and honors Kobe Bryant while a guy with no arms passes by. …

Sinclair Broadcast Group is looking to strike more deals akin to the one media company reached last year with casino operator Bally’s Corp. (NYSE:BALY). The moves come as it’s scrambling to rework the debt load at its regional sports network (RSN) business. Sinclair Broadcast Group headquarters in Maryland pictured above. The company is said to be in talks with two sports betting companies for media deals. (Image: Baltimore Sun) Sinclair is reportedly actively engaged in discussions with creditors of its Diamond Sports Group LLC unit. Those talks allegedly involve the possibilities of new financing, with bolstered protections to the lenders. The media company acquired 21 RSNs in 2019 from Walt …

Flutter Entertainment (OTC:PDYPY) has announced the departure of FanDuel CEO Matt King. It’s news that could impact the timing of the Irish gaming company’s plan to list part of the online sports betting giant on a US exchange. FanDuel CEO Matt King pictured at a FanDuel event above. He’s leaving the company and that could affect a spin-off. (Image: MarketWatch) King has been with FanDuel for four years, joining the firm before the 2018 Supreme Court ruling on the Professional and Amateur Sports Protection Act (PAPSA). In that time, he’s overseen a transition from daily fantasy sports (DFS) upstart to what’s now the largest online sportsbook in the US. No …

A bill to allow mobile sports betting in Louisiana has cleared the state House of Representatives and now heads to the Senate for consideration. Senate President Page Cortez (R) already has said he supports mobile wagering on live sporting events. From left, Sen. Page Cortez, Rep. John Stefanski, and Rep. Clay Schexnayder confer at the Capitol in Baton Rouge. This year’s legislative session ends June 10. (Image: Associated Press) House Bill 697 by Rep. John Stefanski (R) would allow sports bettors in the state to place wagers on mobile devices, such as smartphones.  The measure passed in the House on Monday on a 78-24 vote, according to the Louisiana State …

DraftKings (NASDAQ:DKNG) stock is extending what’s now a precipitous decline, as at least three analysts today trimmed price forecasts on the sportsbook operator. The opening of the DraftKings sportsbook at Del Lago Casino in New York. The stock is sliding today as three analysts reduce price targets. (Image: Auburnpub.com) In early trading Monday, shares of the daily fantasy sports (DFS) provider are off more than six percent after stumbling 14.54 percent last week and 20.77 percent over the past month. DraftKings is off 38 percent from its 52-week high notched in March, and all that bloodletting appears to be inspiring analysts to lower price estimates on the name. Morgan Stanley …

Neither the Fontainebleau Resort nor Trump National Doral is in line to receive casino licenses when Florida lawmakers reconvene for a special session later this month.  Senate President Wilton Simpson said the state legislature will not consider allowing the Fontainebleau owner to transfer a casino license from an existing facility to the historic Miami Beach resort. (Image: News Service of Florida) Senate President Wilton Simpson, R-Spring Hill, shot down those possibilities in an interview Friday with CBS Miami. I do not think that that’s being contemplated in this special session,” Simpson said. “Actually, I know it’s not. We put out the call yesterday and it would prohibit that type of …