Chicken Chase

How to play Chicken Chase

I’ll be behind the scenes helping tie up the loose ends, and then I’ll be taking a much-needed vacation staycation while I contemplate the next chapter.

Feel free to reach out. You can find my detail at http://billbeatty.net.

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What is Chicken Chase?

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.

About Chicken Chase

James Monk, founder of sports data and streaming provider Catalist Sports, has witnessed that dependence directly. Catalist supplies ITF tennis data to Kalshi and Polymarket and has an exclusive US sports-streaming agreement with Kalshi.

The company must also provide data to the firms making markets on those events.

“If we just sold the data to Kalshi in order to list the markets but no one was coming in and placing liquidity, there’s no point in them listing the markets,” Monk said. “We also need to supply the data to the market makers to inform their models.”