Sep 28 2026
Gaming and leisure
Recent Research
SSP Group plc, TFS: potential to compound TSR
Sep 28 2026
Entain, Good H1 results
Aug 13 2026
Meet your Gaming and leisure Research team
Flutter Entertainment plc
Outlines potential impact from Brazil executive measure
Flutter Entertainment has issued an update outlining that it has ceased operations in Brazil following the provisional executive measure. It notes that it is assessing all its options,...
SSP Group plc
TFS: potential to compound TSR
Our existing forecasts indicate free cash flow of c.£110m in FY27 and c.£130m in FY28. This cashflow and manageable leverage support further shareholder returns. Indian free float...
Entain
Brazil – executive measure shuts the industry for now
Brazilian President Lula issued an executive order on September 25th that essentially closes the online sector in Brazil with immediate effect. The measure requires approval from...
Flutter Entertainment plc
Enough swallows to make a summer?
Momentum in US sports betting undoubtedly negatively surprised us. There are a number of potential explanations for this. To compound the issue, FanDuel also lost share. In...
Entain
Good H1 results
Entain has reported a good set of H126 numbers, with online revenue growth at the top end of the range and a robust margin performance. The UK & Ireland showed strong online...
DraftKings
Q2 miss, but focus will likely land on reiteration of guidance
DraftKings reported Q2 results that were a little behind expectations, with the statement noting that performance would have been better than anticipated ex-sports results and higher...
Flutter Entertainment plc
Q2 slightly ahead; guidance reduced; CEO change
Flutter has reported Q2 results a little ahead of our forecasts and also notes that early Q3 trading is ahead of expectations. On guidance, the range for the International business...
Hostelworld
Forecast update
We are updating our Hostelworld forecasts to reflect the recent interim results. The company flagged a c.3% impact to booking volumes as a result of the conflict in the Middle East....
Hostelworld
Interim results and takeaways from the presentation
Hostelworld released its interim results this morning. Most of the key line items had been pre-released, but management reiterated its confidence in delivering low-double-digit revenue...
Entain
BetMGM – guiding to the lower end of ranges
BetMGM has reported Q2 revenue growth of 3%. It has guided to the lower end of its prior guidance range of $2.9-3.1bn (DavyF: $3.0bn) and the lower end of its range of aEBITDA of...
