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A FanDuel initial public offering in the U.S. could be delayed by a legal battle between two owners of the sports betting company.
What Happened: A lawsuit has been filed by
Fox Corporation (NASDAQ: FOX) (NASDAQ: FOXA) against
Flutter Entertainment (Pink: PDYPY).
“Fox Corporation has filed suit against Flutter to enforce its rights to acquire an 18.6% ownership interest in FanDuel Group, an American sports betting brand, for the same price that Flutter paid for that interest in December 2020,” Fox said in a Tuesday statement.
Why It’s Important: As part of its acquisition of The Stars Group, Flutter Entertainment and Fox reached a deal over the Fox Bet joint venture between TSG and Fox.
A Friendlier Legal Infrastructure is Accelerating the Growth of Online Gambling
FinancialBuzz.com News Commentary
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NEW YORK, April 5, 2021 /PRNewswire/ The online gambling industry has seen steady growth in its popularity for several years. However, the pandemic and its consequences have pushed the demand even further. Two major segments of the online gambling industry are online gaming (i-gaming) and sports betting. Both have proved to be pandemic proof segments. The sports betting segment in particular has benefited from a continuously improving and friendlier legal infrastructure. As a result of the evident spike in demand, Morgan Stanley reported that it now projects that the domestic sports betting industry will reach revenues of about USD 7 Billion by 2025, a major increase from the USD 5 Billion projected in June 2018 and reiterated last December, Casino.org reports. Trident Acquisitions Corp. (NASDAQ: TDAC), DraftKings Inc. (NASDAQ:
Tapping Day-Trader Cash, ETF Launches Go From Risky to Roaring According to a new study, financial advisers and fund managers are looking for a new ETF to have least $100 million in assets before investing in it.
Claire Ballentine | Mar 16, 2021
(Bloomberg) It wasn’t long ago that the odds of successfully launching an ETF were stacked heavily against the little guy. To survive, a fund needed scale, early cash and wide distribution, and that gave larger issuers a built-in advantage.
The retail investing revolution may be changing all that.
Suddenly, newcomers are luring big chunks of cash from the outset with exchange-traded funds built to surf the trends beloved by the day-trading masses.
New Technologies Expand the Possibilities of Online Gambling
- FinancialBuzz.com News Commentary
NEW YORK, March 12, 2021 /PRNewswire/ Two major segments of the online gambling industry are online gaming (i-gaming) and sports betting. Online gaming, in particular, has proven to be a pandemic proof segment. An increasing number of online events with large prize pools is now also expected to create new opportunities for players and betters alike. As for sports betting, the segment has majorly benefited from a continuously improving and friendlier legal infrastructure. For example, sports fans in Arizona could soon have the ability to place bets inside sports venues while the action unfolds. For others, daily online fantasy sports platforms like Draft Kings and FanDuel might soon be operating legally in their state. Bragg Gaming Group Inc. (OTC: BRGGF) (TSX-V: BRAG), Esports Entertainment Group, Inc. (NASDAQ: GMBL), Roundhill Sports Betting & iGaming ETF (NYSE: BETZ), Bally s Corpor
New Approach to Licensing Prompts Rapid Growth of the Online Betting Market
FinancialBuzz.com News Commentary
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NEW YORK, March 4, 2021 /PRNewswire/ Two major segments of the online gambling industry are online gaming (i-gaming) and sports betting. Online gaming, in particular, has proven to be a pandemic proof segment. An increasing number of online events with large prize pools are now expected to create new opportunities for players and betters alike. As for sports betting, the segment has also benefited from a continuously improving and friendlier legal infrastructure. For example, a report by the Chicago Sun-Times indicates that New Jersey gamblers set a nationwide record for the most money bet on sports in a single month, spending almost USD 668 Million in August on events including resurgent baseball, basketball and hockey seasons that had been interrupted by the outbreak. As a result of the evident spike in demand, Morgan Stanley rep