Penn National Gaming analyst reaction

By Jake Pollard  |  November 5, 2021

Portnoy complaint: Initial reaction to Penn National Gaming’s missed Q3 forecasts yesterday afternoon was quickly overtaken by a Business Insider article about Barstool Sports founder Dave Portnoy’s alleged treatment of women. Portnoy denied the allegations and followed up with a nine-minute video on Twitter in which he questioned Insider’s motives. PNG shares dropped 9% when […]

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Penn and Bally rely on more than just one bite

By Jake Pollard  |  November 4, 2021

Penn National Gaming Q3s The top line Revenues of $1.5bn, up $382.1m YoY, net income of $86.1m vs. $141.2m, net income margin 5.7% vs. 12.5% YoY Adj. EBITDA up $20.7m to $364.3m YoY. Adjusted EBITDAR up $27.7m to $480.3m YoY. Adj. EBITDAR margins of 31.8% vs. 40.1% YoY caused by Hurricane Ida and Delta variant […]

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Flutter: competitive US situation easing off

By Jake Pollard  |  November 2, 2021

Flutter Q3 trading statement The top line Revenue up 9% YoY (12% up in constant currency); sports revenue up 13% and gaming up 1%. US revenue up 85% YoY, Australia up 20% but UK & Ireland down 5% and international down 3% (but up 6% ex-Germany). The company blamed sporting results and a £10m hit […]

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PointsBet feels the squeeze

By Jake Pollard  |  October 28, 2021

The top line Net win rose 82% YoY to A$69.5m ($52.2m) with sports-betting up 76% to $67.3m and igaming contributing A$2.2m. Australian net win rose 56% YoY to A$54.8m while the US more than trebled to A$14.7m. PointsBet is live in seven US states with launch plans in 11 more in the next 14 months […]

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Las Vegas Sands: desperately seeking visibility

By Jake Pollard  |  October 21, 2021

Las Vegas Sands Q321 The top line Revenue rose 92.2% YoY to $857m while adjusted EBITDA came in at $47m vs. a loss of $163m in Q320. As of the end of September LVS had $1.64bn of cash on its balance sheet and access to $3.93bn of available credit. The shape of a pear: On […]

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