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Last week, Apollo Global Management (NYSE:APO) upped its bid for Tabcorp’s betting and media businesses to $3.1 billion. But some analysts believe the private equity firm’s dearth of direct sportsbook operational experience could hinder its dealings with the Australian gaming company. Scenes from the 2015 Melbourne Cup. Lack of Australia exposure could hinder Apollo’s run at Tabcorp assets, say analysts. (Image: New York Times) While Apollo has been actively involved in sportsbook management, it’s no stranger to the gaming business. It recently acquired Great Canadian Gaming Corp. (GCGC) and is working with VICI Properties (NYSE:VICI) to purchase the Venetian and Sands Expo and Convention Center in Las Vegas for $6.25 …

Shares of DraftKings (NASDAQ:DKNG) are trading lower early Friday after the sportsbook operator delivered better-than-expected first quarter results while raising its 2021 revenue guidance. A bettor places a bet at a DraftKings sportsbook. The stock is slumping again despite impressive quarterly results. (Image: Associated Press) The Boston-based company said it lost 36 cents a share on revenue of $312 million in the first three months of the year. Analysts expected a loss of 45 cents on sales of $237.02 million. Monthly unique players (MUPs) surged 114 percent, while spending per MUP was $61, a 48 percent year-over-year increase. Despite those impressive numbers, DraftKings is off 1.55 percent in early trading, …

Ohio lawmakers unveiled their latest attempt at a sports betting bill on Thursday, with hope they can fast track it through the state Legislature. Ohio Senate Majority leader Kirk Schuring holds a press conference Thursday to go over details of a sports betting and expanded gaming bill that the chamber will consider. He and other supporters of the measure hope to pass it by the end of June. (Image: The Ohio Channel) There remain several key details that lawmakers still need to flesh out. However, a key legislative leader expressed hope it can pass before lawmakers head out for summer break. There’ll be other iterations of the bill,” Senate Majority …

Maryland casinos won more than $162.1 million from gamblers last month. The haul is the state gaming industry’s third-highest gross gaming revenue (GGR) monthly performance in history. Maryland’s first casino opened in September of 2010. The Live! Casino & Hotel in Maryland is seen last month. The six casinos in the state enjoyed their third-best revenue month on record in April of 2021. (Image: The Baltimore Sun) The six licensed commercial casinos followed up their all-time high of $169 million in March with yet another strong performance. GGR totaled $0 in 2020, as the casinos were closed throughout the month on Gov. Larry Hogan’s (R) pandemic orders. But compared with …

Sportradar and Horizon Acquisition Corp. II (NYSE: HZON) are reportedly extending negotiations to bring the deal across the finish line. Horizon is the special purpose acquisition company (SPAC) looking to merge with the betting data provider. Investor Todd Boehly, seen speaking at an event above. His SPAC is still hammering out details with Sportradar. (Image: Bloomberg) The Swiss company has long been rumored to be seeking avenues to go public. This could either be by traditional initial public offering (IPO) or through a blank-check transaction. In March, rumors surfaced Todd Boehly’s Horizon Acquisition Corp. II was holding talks with Sportradar, and that a deal valuing the sportsbook data provider at …

A new poll finds that a majority of Florida voters want a say on whether the state should allow the Seminole Tribe to expand its gaming privileges. Florida Gov. Ron DeSantis (R) signs new Class III gaming terms as Seminole Chairman Marcellus Osceola Jr. looks on. A poll, however, finds voters in the state want to weigh in on the refreshed gaming terms. (Image: News Service of Florida) Last month, Florida Gov. Ron DeSantis (R) and the Seminole Tribe inked a deal that amounts to the largest expansion of gambling in the Sunshine State in decades. Under the new Class III gaming compact terms, the tribe would be permitted to …