Knicks and Rangers Revenue Plunges 31% In COVID-Hit Third Quarter
Revenue declined almost $85 million for the New York Knicks and Rangers in the third quarter, as pandemic restrictions on fans gutted ticket, concession and merchandise…
Stocks
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Sports Stock Index Posts April Gains Amid League, Betting Tumult
The JohnWallStreet Sports Stock Index rebounded in April to finish up nearly 3%, a modest gain even as many component stocks experienced wild swings in the month. The…
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Sports Stocks Muddle Through March as Tiger Cub Mauls Broadcasters
Investors in sports like to cite the industry’s relative insulation from the forces that usually roil markets. But the March performance of the JohnWallStreet Sports…
MSG Arranges Discount Buy of TV Network in Sports Betting Play
Two of the publicly traded Madison Square Garden businesses are merging in a move driven by the expansion of sports betting, according to the company. Madison Square…
DraftKings CEO Robins Joins Billionaire Ranks as Stock Soars
DraftKings shares continued their climb Wednesday, as investors cheered what they heard at the company’s virtual investor presentation yesterday. The stock is now up…
DraftKings Added to Norway Wealth Fund as Knicks, Braves Trimmed
Norway’s massive sovereign wealth fund cut back on sports team holdings in 2020, slashing its stake in Bundesliga headliner Borussia Dortmund to nearly zero and cutting…
Barstool’s Portnoy Touts Buzz-Focused ETF with Team Owner, Hedge Fund Manager
Barstool Sports founder turned day-trader Dave Portnoy has a new investment to promote—an ETF, of which he’ll get a cut for every investor’s dollar. Portnoy announced a…
Sports Stocks Beat Market in February on Canada Betting and Fan Return
Sports stocks outpaced the broad stock market for the fourth month running as investors continued to wager that sports betting will expand in North America and that fans…
Knicks, Rangers Revenue Plunges Though Betting and Private Equity Offer Hope
The absence of games and fans as a result of the pandemic caused Madison Square Garden Sports revenues to plunge 90% in the second quarter, while net income swung to a…
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Sports Stocks Outpace Market in January as Betting Holds Investor Optimism
Sports stocks notched an impressive gain in a volatile January, as investor appetite for sports betting powered the JohnWallStreet Sports Stock Index to close at 1,503…
Knicks $5.4 Billion Valuation Shows Winning Isn’t Everything
Over the past 20 years, the New York Knicks have a winning percentage of .390. The Knicks play to an average of 95% capacity at home games. Since 2002, the Knicks…
How GameStop, Bernie Madoff, and Dave Portnoy Have Mets Fans Panicked
Less than a decade after the Bernie Madoff scam roped in the Wilpons and supposedly handcuffed the New York Mets payroll as a result, the team’s fans are panicking that…
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