Gambling News: DraftKings Goes Public on Nasdaq Exchange - Video Slots
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Watch ONLINE CASINO NEWS Video: Gambling News: DraftKings Goes Public on Nasdaq Exchange.
In this weeks in online casino gambling news podcast and video we discuss that DraftKings Goes Public on Nasdaq Exchange. After that, we discuss Las Vegas $17.3 Billion Casino Acquisition Faces Major Hurdles, and Las Vegas Sands Boost in Stock Price Linked to Asian Gaming Interests. Lastly, 888poker Announces Its Schedule for The 2020 XL Inferno Series in May.
The highly popular daily fantasy league and sports betting site DraftKings started trading on Nasdaq late last week. Under the symbol DKNG, the initial share price opened at $20.49. The current company is a result of a three-way merger with an investment company and a gambling tech firm. The investment company is Diamond Eagle Acquisition Corp and the tech firm is SBTech Global. DraftKings’ co-founder Jason Robins is the company’s CEO and Chairman of the Board. Corporate offices will remain in Boston with other US offices in Hoboken, New York, Las Vegas and San Francisco. The company’s net worth is estimated to be $3.3 billion. #DraftKings #SportsBetting #GamblingNews
Las Vegas $17.3 Billion Casino Acquisition Faces Major Hurdles
In June of 2019, El Dorado Resorts announced plans to acquire Caesars Entertainment. The terms of the deal involved $7.2 billion in cash and 77 million shares of Eldorado stock. It also includes the assumption of Caesars’ current debt. Despite the financial impact on Las Vegas due to the coronavirus outbreak, both parties are still pushing to close the deal. One major factor is the 63.5 percent loss in the share price of El Dorado. Another is the additional $3.6 billion in new debt that El Dorado needs to compete the buyout. Additional rent payments to VICI Properties is another major concern.
Las Vegas Sands Boost in Stock Price Linked to Asian Gaming Interests
Following a recent conference call covering Las Vegas Sands’ market outlook, the stock price of LVS gained 12 percent. Company executives see a strong rebound in its Asian gaming properties, especially in Macau. They believe that market will rebound quicker than gaming interests in the US amid the coronavirus health crisis. One of the main reasons is Asian casino patron’s acceptance of masks, temperature checks and other precautionary measures. These same preventive measures might meet a higher level of resistance in the US when gaming operations attempt to reopen. The brighter outlook for LVS’s business interests in Asia could also provide some much needed cash.
888poker Announces Its Schedule for The 2020 XL Inferno Series in May
Online poker has received some renewed interest in recent weeks and 888poker is looking to capitalize. The popular real money online poker site just released its 11-day schedule for the 2020 XL Inferno Series from May 14 through May 24. The total prize pool is more than $1.5 million guaranteed. The $250 Main Event on Sunday, May 24 will offer $500,000 guaranteed. Players can earn a seat for that event through a series of satellite tournaments. There are also ways to win a free seat for new 888poker online accounts. The guaranteed prize money will exceed $45,000 every day of the schedule with 34 total planned events.
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