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%.
Washington — For the first time in history, a robot, not a person, escorted the first lady of the United States Wednesday at the White House.
A jury on Wednesday found that Meta and YouTube are liable for creating products that led to harmful and addictive behavior by young users, a landmark decision that could set a legal precedent for similar allegations brought against social media companies. Edited by Alain Sherter and Aimee Picchi In:
"Today" show co-host Savannah Guthrie said her family is in agony as she made a tearful plea for someone "to do the right thing" nearly two months after her mother Nancy Guthrie disappeared from her Arizona home. In:
Washington — The Supreme Court on Wednesday ruled that internet service provider Cox Communications cannot be held liable for copyright infringement by its subscribers in a closely watched dispute over pirated music.
Joey Amor says his wife, Army Sgt. 1st Class Nicole Amor, was "the rock" and "the glue" for those around her — a role he says defined her life and service before she was killed earlier this month during the war with Iran. In:
An internal watchdog report in the Department of Homeland Security identified serious vulnerabilities in TSA's screenings at airports nationwide — and the agency has yet to respond five months later, according to internal communications provided to House Homeland Security Committee staff and reviewed by CBS News.
Two orphaned bear cubs are settling in at a California animal welfare center after their mother was euthanized for attacking people, the San Diego Humane Society said Tuesday. In:
Travelers at a Houston airport voiced shock and disbelief over seemingly endless TSA security lines caused by a severe staffing shortage. In:
Paul Kovacich, a K-9 commander serving life for his wife's 1982 murder, has a mixed message for the California parole board ahead of his first chance of freedom: He doesn't want an early release — and he didn't kill his beloved German shepherd. In:
A California court denied the state attorney general's appeal to halt the Riverside County Sheriff's election fraud investigation on Tuesday. In:
The Justice Department's investigation of a $2.5 billion renovation project at the Federal Reserve didn't find any evidence of a crime, a federal prosecutor privately conceded under questioning by a skeptical judge earlier this month, according to a transcript of the sealed hearing. In:
Early this week, Senate Republicans and the president appeared to be edging closer to a framework to ending the Department of Homeland Security shutdown, which is now in its second month — but a breakthrough has remained out of reach.
Democrat Emily Gregory won a special election for a Florida state House seat on Tuesday, The Associated Press has projected, flipping a district that is home to President Trump's estate, Mar-a-Lago. In: