Fox Mayhem

What is Fox Mayhem?

According to data from Yahoo Finance, the resort and casino sector is -41% over the last five years, and the overall gambling sector, which includes major sportsbooks and online operators, is +7%; the benchmark S&P 500 index, by comparison, is +71% during that span.

Two blockbuster developments in the casino space earlier this year seemed to indicate an increasingly bullish bet on the sector, including Fertitta Entertainment’s acquisition of Caesars Entertainment in May. The other is a subsequent takeover offer of MGM Resorts from its largest shareholder, Barry Diller’s People Inc. But a negative shift in market conditions could affect both deals.

In July, Fertitta’s General Counsel Steven Scheinthal told the Nevada Gaming Control Board that the company had a letter of intent from banks to finance the transaction but was waiting for better borrowing conditions. Fertitta is assuming nearly $12 billion in Caesars’ debt and is committed to a $6.6 billion financing package.

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Both Squires and his predecessor, Coke Morgan Stewart, made it harder for filers to get in front of the PTAB, typically citing patent ages or court rulings.

In April, Interactive Games LLC, a unit of Cantor, sued DraftKings and Flutter Entertainment’s FanDuel, alleging the two largest domestic online sportsbook operators infringed on its patents. That suit arrived a decade after Interactive Games brought similar litigation against the sports wagering giants, which was challenged by both companies.

In the suit brought earlier this year, the Cantor unit accuses the two gaming companies of infringing on five of its patents and requested an undisclosed amount of financial damages.

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An Australian casino player is taking Royal Caribbean to court, arguing that the company banned him from sailing with its services and from playing at its casinos over his ability to count cards. After previously winning a legal battle against Star Casino, Mark Timothy Grant is now moving to confront the cruise line. 

Grant argues that he has booked five Royal Caribbean cruises that were valued at a total of AUD 22,000. He booked the cruises with money he won playing at the Royal Caribbean’s ships’ casinos. 

However, before he could even board the first cruise, Grant was told that he would not be able to proceed onboard. Grant had his son and partner along with him. The company only then went to inform Grant that he had been placed on a “no sail” list, effectively a ban, because of “breaking the house rules” in the casino.