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DraftKings is a different proposition. Its share price went from $43.30 on 18 September 2025, to $21.75 upon market closure last week. Beynon says it “arguably offers the greatest operational upside if it can continue converting strong customer growth into sustained profitability”. Its prediction market strategy could also become an advantage if the new market proves complementary to sportsbook betting.
MGM Resorts International’s investment case is supported by Las Vegas, regional casinos, property assets and its 50% interest in BetMGM. Its own share price has been on a different journey to its online pureplay peers, having increased by 5% in a year, to $37.81 on 18 September.
“MGM offers a more diversified investment case, with BetMGM, regional gaming and Las Vegas operations reducing reliance on online sports betting alone,” says Beynon. Robinson makes the same point. “It is a Las Vegas and Macau property business with a betting JV attached, and that is precisely why it has held up.”
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Unfortunately, because of that attorney-client privilege, it is difficult to know what types of ethical dilemmas Hasselback is facing. However, it’s likely just the mere hint at issues will be enough for IPI to find itself, once again, being more closely scrutinized. Where that leads is anyone’s guess, given gaming regulators’ reluctance to hold the company accountable for its actions.
IPI now has until this Friday to find a new lawyer to carry the six-case workload Hasselback had, but will most likely use this as an excuse to delay the ongoing legal battles. It won’t get very far with that, though, and perhaps Judge Kennedy expected IPI to try something. She added in her ruling that the attorney’s exit “may cause some delay, [but] that delay is not so much so that it would cause significant prejudice or adversely and materially affect the plaintiff.”
This particular lawsuit involving Fox Financial, one of a growing list IPI is battling, centers on an arrangement the company made with a third party, Forson Holdings. That entity had leased property from Fox in 2016, but fell behind. IPI had signed as a guarantor of that lease agreement and, as such, was responsible for covering Forson in the event payments weren’t made. However, it decided it didn’t need to follow the terms of the contract.
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As with California, sports wagering is illegal in Texas. Greg Abbott, a three-term governor, is up for re-election in November, along with Dan Patrick, his lieutenant governor. Patrick, who vehemently opposes sports betting, also serves as president of the Texas Senate in his current role. Several attempts to legalise sports wagering since the 2018 PASPA decision have been foiled under Patrick’s leadership.
Texas Attorney General Ken Paxton is in the middle of a heated US Senate campaign against Democratic challenger James Talarico. Paxton will be succeeded as Texas AG by state Senator Mayes Middleton, a Republican from Galveston, or his Democratic opponent Nathan Johnson, a state senator from Dallas.
State Senator Bob Hall represents Senate District 2 in Texas, a district that contains parts of Dallas. Hall, 84, did not see a distinction between event contracts and sports wagers, noting that the former is just dressed up in a different manner.
