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About Monster Superlanche
“Having spent more than two decades in key operating and financial leadership roles at Bally’s, George has been instrumental in developing our business model, asset portfolio and growth strategy,” Reeves said.
“He steps into the interim role supported by an experienced finance organisation and I am confident that our reporting, controls and capital markets work will continue without disruption.”
Bally’s shares plunged 26% on 17 August despite a solid Q2 in which group revenue rose by 20% year-on-year to €792.2 million.
What is Monster Superlanche?
While sports event contracts remain the headline-grabbers for prediction market operators, there’s evidence that other categories are experiencing growth. As Bernstein points out, cryptocurrency event contracts account for at least 20% of the turnover on the two largest prediction markets.
In another encouraging non-sports sign, one of those operators notched just $2 million in commodities volume last year, but that figure surpassed $410 million in August alone and is approaching $600 million on a year-to-date basis.
Bernstein estimates the global market for financial contracts will grow to $900 trillion by 2035, up from $700 trillion last year, and if prediction markets capture just 0.5% of that total, volume would increase by $4.7 trillion per year.
How to play Monster Superlanche
Station’s corporate leadership had approved and announced a new benefits overhaul for all of its 14,000 employees across ten properties on 19 November 2019. Two days later, Culinary, which represents workers at seven other Station properties besides Red Rock, petitioned to represent workers at that casino.
Red Rock employees rejected unionisation the following month by a 627-534 vote, although the NLRB and the DC appeals court have held that the company took steps to prevent a fair and honest election. The timing of the benefits rollout and unionisation petition have been a central issue in the matter in the years since.
“Despite the enhanced benefits implementation starting before the union sought recognition of any Red Rock employees, the District Court found that the timing and rollout of the benefits were intended to deter the union’s organising effort and ordered Red Rock to recognise and bargain with the union pending completion of the board’s administrative proceedings,” Station’s SCOTUS petition reads in part.
