Nov 13 2024
Gaming
Recent Research
Entain, Good Q3 performance
Oct 17 2024
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Flutter Entertainment plc
Excellent quarter – hitting all its straps
Flutter has produced another exceptional quarter with group revenue up 27% and aEBITDA +74% year-on-year (yoy), representing a good beat to our aEBITDA forecast. The US...
DraftKings
Broadly in line Q3, but NFL results impact the FY guide
DraftKings reported Q3 revenue up 39% year-on-year (yoy) to $1.095bn, driven by online sports book gross gaming revenue (GGR) growth of 39% and iGaming GGR growth of 26% yoy. The...
Entain
Good Q3 performance
Entain updated on trading this morning. Underlying growth in the quarter in the key Online division was good with improving trends, as had been partly flagged in early September. All the...
Flutter Entertainment plc
Compelling growth and capital returns
Flutter Entertainment has issued a release ahead of its Capital Markets Day (CMD) later today. This references the group’s considerable global market opportunity ($370bn) and the...
Flutter Entertainment plc
To acquire Snaitech in Italy – delivers another gold medal position
Flutter has this morning confirmed that it has reached an agreement to purchase Italy’s third-largest online B2C business, Snai, for €2.3bn/$2.56bn. When combined with Flutter’s existing...
Flutter Entertainment plc
Brazil acquisition provides another podium position
Flutter Entertainment has this morning announced that it will acquire a 56% stake in NSX Group, a leading Brazilian operator, with an option to increase its holding in year 5 and year 10....
Flutter Entertainment plc
Strong Q2 with guidance upgrades
Flutter Entertainment’s Q2 print was encouraging with good momentum across the board. The US aEBITDA mid-point has been increased by 4% from $710m to $740m despite the headwind from...
Entain
Better performance in Q2 with outlook improved
Entain reported H124 results this morning. Underlying online H1 revenue run rates are ahead of expectations and growth has improved from the Q1 stage, helped by the European Football...
DraftKings
FY24 EBITDA downgrade, buyback and tax surcharge proposal
DraftKings reported Q2 revenue of $1.104bn, up 26% year-on-year (yoy), driven by above-expected levels of customer acquisition, retention and engagement. New FY24 guidance was issued,...
Entain
BetMGM – improving trends but further investment required
BetMGM has reported H1 revenue growth of 6% to $1bn with EBITDA losses of $123m, both broadly in line with consensus. The CEO notes that H1 has been an important year in laying the...
