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Gambling income tax change is 'brutal', says Jim Cramer
CNBC Television· 2025-07-10 00:16
Industry Overview - Sports betting is one of the fastest growing industries in America, dominated by DraftKings and Flutter Entertainment (parent of FanDuel) [1] Legislative Change - A provision in the budget bill changes the way gambling income is taxed [2] - The change is located on page 237 of the 870-page bill [2] Tax Implications - Current law allows deduction of gambling losses from winnings, taxing only net winnings [3] - Starting next year, only 90% of gambling losses can be deducted [4] - Example: With $1,000 winnings and $1,000 losses, only $900 in losses can be deducted, resulting in taxes on the remaining $100 [4]
Eli Manning says he’s no longer interested in buying a piece of the NFL’s Giants
CNBC Television· 2025-07-09 21:35
to another big story. Giants legend, New York Giants legend Eli Manning and his aspirations for NFL ownership. Alex Sherman breaking news today.He's here with more. What have you learned. Yeah, I spoke with Eli Manning this morning.The New York Giants are out in the market looking to sell a minority stake in the team among a small handful of teams. Eli Manning has been interested in buying a minority stake. So, I asked him about it and I said, "Hey, Eli, are you still interested in this?" Take a listen to w ...
BRP Makes History with Red Dot 2025 Win
Prnewswire· 2025-07-09 16:15
Core Insights - BRP's Design & Innovation team has been awarded the "Red Dot: Design Team of the Year 2025" title, highlighting the company's commitment to rider-centric innovation and design excellence [1][2] - The company has received five new Red Dot awards, bringing its total to 200 international design and innovation recognitions, including 61 Red Dots [12] Company Overview - BRP Inc. is a global leader in powersports products, propulsion systems, and boats, with over 80 years of experience and a focus on consumer needs [13] - The company reported annual sales of CA$7.8 billion and employs approximately 16,500 people as of January 31, 2025 [13] Design Highlights - The Can-Am Pulse motorcycle emphasizes urban mobility and accessibility with a bold, compact design that encourages inclusivity [3][4] - The Can-Am Origin motorcycle combines motocross heritage with modern design, suitable for both city and rugged terrains [5][6] - The Can-Am Canyon Redrock features a new design language for three-wheel adventure vehicles, focusing on off-road capability and rider comfort [7][8] - The Can-Am Maverick R Max is designed for shared off-road experiences, accommodating four passengers while maintaining agility [9][10] - The Can-Am Outlander XT 1000R sets a new visual identity for utility ATVs, balancing functionality with a bold aesthetic [11][12]
SEGG Media and David Lloyd Announce Groundbreaking $14M U.S. Expansion Deal
GlobeNewswire News Room· 2025-07-09 16:00
Core Insights - SEGG Media Corporation has signed a binding Letter of Intent to acquire the rights to David Lloyd's All-Sports Arena in Boca Raton, FL, valued at $14 million, marking the brand's entry into the U.S. market [2][3] Company Overview - SEGG Media is a technology company focused on the intersection of sports, entertainment, and gaming, operating under the NASDAQ ticker SEGG [2][11] - David Lloyd is a prominent figure in British and European sports, known for founding David Lloyd Leisure, which operates 130 health and fitness clubs serving over 710,000 members [4][12] Facility Details - The All-Sports Arena will be a 100,000 square-foot facility in Boca Raton, designed to combine sports infrastructure with co-working and business amenities, branded as "Sports.com All-Sports Arena, designed by David Lloyd" [3][8] - Key features of the facility include indoor padel, basketball, and pickleball courts, climbing walls, AI-driven golf simulators, and a luxury co-working space of approximately 10,000 square feet [8][10] Financial Projections - The Boca facility is projected to generate over $6 million in EBITDA in its first year of operations, with plans for additional facilities to be developed [10] Strategic Expansion - The Boca Raton launch is part of a broader international rollout strategy, with plans for expansion across major U.S. cities and the Middle East, leveraging Sports.com's digital audience and David Lloyd's operational expertise [7][9]
SEGG Media and David Lloyd Announce Groundbreaking $14M U.S. Expansion Deal
Globenewswire· 2025-07-09 16:00
Core Viewpoint - SEGG Media Corporation has signed a binding Letter of Intent to acquire the rights to David Lloyd's All-Sports Arena in Boca Raton, FL, valued at $14 million, marking the entry of the David Lloyd brand into the U.S. market [3][4] Company Overview - SEGG Media Corporation operates in the sports, entertainment, and gaming sectors, focusing on immersive fan engagement and AI-driven experiences [11] - David Lloyd is a prominent figure in global sport and fitness, known for founding David Lloyd Leisure, which operates 130 premium health and fitness clubs [6][12] Strategic Partnership - The LOI was signed during Wimbledon, symbolizing a significant partnership between SEGG Media and David Lloyd, aimed at creating a unique sports and business ecosystem [4][7] - The Boca Raton facility will be branded as "Sports.com All-Sports Arena, designed by David Lloyd," featuring a blend of sports infrastructure and business amenities [4][9] Facility Features - The arena will span 100,000 square feet and include indoor padel, basketball, and pickleball courts, climbing walls, AI-driven golf simulators, and a luxury co-working space [4][15] - The facility is projected to generate over $6 million in EBITDA in its first year of operations [10] Expansion Plans - This launch is part of a broader international rollout strategy, with plans for additional facilities across major U.S. cities and the Middle East [8][9]
Rush Street Interactive Announces Second Quarter 2025 Earnings Release Date
Globenewswire· 2025-07-09 12:30
Core Points - Rush Street Interactive, Inc. (RSI) will release its second quarter 2025 results on July 30, 2025, after market close, followed by a conference call at 6:00 pm Eastern Time [1] - The earnings press release and related materials will be accessible on RSI's investor relations website [2] - An audio replay of the conference call will be available on the investor relations website until at least August 30, 2025 [3] Company Overview - RSI is an online gaming and sports entertainment company operating in the U.S., Canada, and Latin America, with brands including BetRivers, PlaySugarHouse, and RushBet [4] - The company offers real-money mobile and online operations in fifteen U.S. states and several international markets, including Colombia, Ontario, Mexico, and Peru [4] - RSI has received multiple awards for its services, including being named the EGR North America Awards Customer Services Operator of the Year for five consecutive years from 2020 to 2024 [4]