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Today's big stories

Caesars Entertainment is looking to buy UK betting company William Hill
It looks like China will be crucial to Tesla’s future stock price performance – Read Now
China’s growing industrial profits might be making investors more optimistic

1/3

Hail Caesars

What’s Going On Here?

Never let it be said Caesars Entertainment isn’t merciful: the hotel and casino giant offered $3.7 billion to take over British gambling company William Hill on Monday.

What Does This Mean?

Caesars – hot on the heels of a merger with Eldorado Resorts that made it America’s biggest gaming operator – is now looking to conquer the US sports betting market. The company thinks buying William Hill will help it do just that, but it’ll need to be every bit as shrewd as its namesake to succeed: Caesars will have to outdo private equity firm Apollo Management, which announced its interest in buying William Hill on Friday.

Why Should I Care?

The bigger picture: Game on.
The US Supreme Court banned sports betting (outside Nevada) in 1992 and effectively outlawed online gambling in 2006, but new rulings in 2018 started to reopen the market across the country. The online casino and sports betting markets are now expected to be worth $18 billion a year by 2025 as more and more states legalize the practice. Caesars, then, will hope to benefit by doubling down on its existing partnership with William Hill in the 18 states where sports betting is currently legal – taking its market share from a projected 12% to much, much higher.

For markets: Big bets.
The shares of a company usually fall after it announces an acquisition, which reflects the risk that it’s paying above the odds, or that the deal won’t pan out as hoped. But Caesars Entertainment’s stock initially rose on Monday, suggesting investors think it’s right on the money. William Hill’s stock, on the other hand, fell. Here’s why: when Apollo made its acquisition plans known on Friday, William Hill’s share price rose 40%. But Caesars’ offer was only 25% higher than William Hill’s share price was on Thursday. And since Caesars believes the British firm will accept its offer over Apollo’s, investors hoping for a profit-boosting bidding war will have been disappointed.

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2/3 Premium

The EV Race Is On

What’s Going On Here?

The race for control of the crucial Chinese electric vehicle market got a boost on Monday – and Tesla’s share price may not be insulated for much longer.

Find out why Tesla might spin off the tracks in today’s Premium Insight

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3/3

Stay Tuned

What’s Going On Here?

Data out on Sunday showed the China industrial sector’s still on the up and up, which might’ve been music to global investors’ ears.

What Does This Mean?

The monthly profit earned by Chinese industrial companies was 19% higher in August than the same time last year. That brings 2020’s total profit decline to 4%, up from 8% in July (tweet this). And with China’s economy – which remains the only major one expected to grow this year – still expanding, there’s not much reason to think that momentum won’t show in September’s data too.

That’s probably helped relax European investors, who were fretting only last week that rising coronavirus cases and new lockdowns would damage company earnings all over again. Seeing as around 35% of the eurozone economy depends on China, its resurgence bodes well for the 19-country bloc.

Why Should I Care?

The bigger picture: Crash, ban, wallop.
Of course, China’s economic relationship with the US is still fraught with controversy. That much is clear from America’s planned ban of social media app TikTok – which was overturned at the eleventh hour on Sunday – and its confirmed ban of telecoms giant Huawei. The latter in particular has rippled throughout Asia: Kioxia Holdings – the $16 billion Japanese microchip maker part-owned by Toshiba – just shelved its initial public offering plans, worried that weak demand from major customer Huawei will dent its earnings. That pushed Toshiba’s once-hopeful investors to sell the stock, which fell on Monday.

For markets: U OK, SMIC?
Shares of China’s biggest microchip maker, SMIC, fell 7% on Monday after it was drawn into trade tussles late last week. The US – yep, you guessed it – banned American companies from selling to SMIC without a license because it’s worried the firm’s products will be used for things they shouldn’t. And seeing as those companies are SMIC’s biggest suppliers, the move risks leaving the firm unable to make its products and, more importantly, sell them.

Get invested: Why now’s the time to back the world’s second-largest economy.

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💬 Quote of the day

“The things you do for yourself are gone when you are gone, but the things you do for others remain as your legacy.”

– Kalu Ndukwe Kalu (a Nigerian-born American political scientist)

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😎 The future is now

The next couple of decades might bring a world of android butlers and hoverboards, but we’re more interested in the new kinds of investors it’ll bring. Investors who – with different tools and education – could completely change the way we think about the markets. We’re checking in with experts from eToro US and Moneycrashers today to find out what that means for you.

🤖 The Next Gen Investor: 1pm NYC Time / 6pm UK Time, September 29th
💻 Find Career Fulfillment: 5pm Dubai Time / 2pm UK Time, September 29th
👹 Seven Sins of Estate Planning: 12pm Pacific Time / 8pm UK Time September 30th
🙋‍♀️ Healthy Financial Habits for Expats: 5pm UK Time, October 6th
✈️ Healthy Financial Habits for US Expats: 5pm UK Time, October 15th
🍷 How To Hold Wine In A Diversified Portfolio: 2.30pm UK Time / 9.30am New York Time, October 21st

📚 What we're reading

What’s all the fuss about Rubik’s cubes? (Popular Science)
Jupiter seems homey (Inverse)
Students have it tough (Time)

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Finimize - 🎰 Caesars’ 4 billion dollar wager

Today's big stories

Hail Caesars

What’s Going On Here?

What Does This Mean?

Why Should I Care?

The EV Race Is On

🧐 Dress to impress with BOSS

Stay Tuned

What’s Going On Here?

What Does This Mean?

Why Should I Care?

😎 The future is now

Older messages

🎮 Amazon pwns Google

😮 Some stocks are anti-vaxxers

🍑 Nike breaks the internet

🌍 New event: A Tale of Two Economic Recoveries

🤞 Goldman has a new stock-picking strategy

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