This is a roundup of news and other interesting pieces that I’ve come across over the last few days. Read about world’s largest beachfront indoor waterpark coming to Atlantic City, Brex $12.3B valuation, US Air Force and Boom Supersonic partnership, Robinhood pays $30K for trading halt last year, and how to avoid MGM Resort fees.
A new non-casino attraction will be coming to Atlantic City adding to the family-friendly entertainment options that will complement Lucky Snake Arcade and Sports Bar. Groundbreaking will be held on Jan. 12 for ISLAND Waterpark and will be the largest beachfront indoor waterpark in the world.
The 103,000-square-foot year-round waterpark will be located right next to Showboat on New Jersey Avenue and will feature waterslides, a lazy river, pools, retail outlets, party rooms and lounge areas. A retractable glass-pane roof will make it a year-round attraction.
In the latest fintech megaround, Brex has confirmed that it has raised $300 million in a Series D-2 round that ups its valuation to $12.3 billion.
Brex started its life focused on providing credit cards aimed mainly at startups and SMBs. It has gradually evolved its model with the aim of serving as a one-stop finance shop for these companies. It currently offers a $1,100 signup bonus as well for its Brex Card.
Boom Supersonic, the aerospace company building the world’s fastest and most sustainable supersonic airliner, today announced it has entered into a three year strategic partnership with the U.S. Air Force valued at up to $60 million. The Air Force awarded this contract to Boom through its innovation arm, AFWERX. Known as the Strategic Funding Increase (STRATFI), the STRATFI contract awarded to Boom is one of the program’s largest investments.
The STRATFI contract will accelerate research and development on Overture, Boom’s commercial airliner. Overture will carry 65–88 passengers at twice the speed of today’s airliners. Designed to run on 100% sustainable aviation fuels, Overture is expected to be the first large commercial aircraft to be net zero carbon from day one. The supersonic airliner is set to enter manufacturing in 2023, roll out in 2025, and begin flying passengers by the end of the decade.
On January 6, an arbitrator for the Financial Industry Regulatory Authority ruled that the zero-commission trading platform was liable for $29,460.77 in compensatory damages to Jose Batista, a retail investor who filed a complaint with the industry self-regulator in May, alleging that he had suffered significant investment losses due to Robinhood’s decision to restrict trading on certain meme stocks at the height of January 2021’s manic short squeeze.
“My plan was to sell Koss and Express that day,” said Batista. “I had a lot, but no one could buy it.” On January 27, the day before Robinhood and other online brokers imposed trading restrictions, Koss closed at $58 a share, and Express closed at $9.55. On February 1, the day Robinhood reopened trading on memes, Koss closed at $35 and Express closed at $5.
Last week MGM announced a lot of changes with their players club rewards program. MGM added some new perks for elite status members in the new MGM Rewards program. The really cool thing is with the World of Hyatt and MGM Rewards partnership Hyatt loyalists can earn some of the great new perks without spending any money in the casino. It is very easy to match Hyatt status to MGM Rewards status and get many of the great new perks. Check out the article to see just how to do it to ensure your next trip to Vegas, or any other MGM property, is as good as it can be.