Online sports gambling is a home run, but not yet with investors
CBSN
Betting on sports online has proved to be a big hit with Americans as more states legalize it, with gamblers smashing records on the Super Bowl and March Madness. But one group has so far proved more skeptical: investors.
The stock prices of leading sports betting companies have slumped despite the betting boom, raising questions about how quickly the public's enthusiasm for online betting will translate into fatter profits for the businesses behind all that gambling action.
Over the last 12 months, DraftKings shares have tumbled 73%, to $18.20 on Friday — below the $20 the stock traded at when the company went public in April 2020. Shares of FanDuel-parent Flutter Entertainment are down 47% over that time period, while Caesars Entertainment's stock price is off 5%.
Kevin Costner has opened up about his friendship with Whitney Houston, more than 30 years after they filmed "The Bodyguard" together. Costner also spoke about his eulogy for the late singer, who died in 2012 at the age of 48, telling the "Armchair Expert" podcast that he refused to let his speech for his friend be cut short.
U.S. flies long-range B-1B bomber over Korean Peninsula for first precision bombing drill in 7 years
The United States flew a long-range B-1B bomber over the Korean Peninsula on Wednesday for its first precision-guided bombing drill with South Korea in seven years, the South said Wednesday.