Flutter: competitive US situation easing off
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 […]
Churchill Downs earnings call recap
The top line Net revenue rose 16.3% to $337.8m and adj. EBITDA rose 28% $156.1m. Live racing and historical racing (HRM) was up 14.6% to $81.5m; TwinSpires was down 19.6% to $102.2m and gaming was up 38.8% to $185.6m. Easy does it: CEO Bill Carstanjen said the group would remain cautious in how it approached […]
PointsBet feels the squeeze
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 […]
Betsson chafes at regulatory questions
Betsson Q3 The top line Revenue was up 3% to SEK1.73bn while EBITDA was flat at €418.5m. Casino decreased 2% to SEK1.28bn but sportsbook rose 24% to SEK435.7m helped by sportsbook margin which increased 900 bps to 7.9%. Average daily revenues in Q4 were down 17.6% YoY (12.9% constant currency) with sportsbook margins at an […]
‘Thanks but no thanks’: DraftKings pulls the plug on Entain bid
The wonder, perhaps, with the news that DraftKings has pulled the plug on its bid for Entain is why it took so long. “After several discussions with Entain leadership, DraftKings has decided that it will not make a firm offer for Entain at this time,” the company said in a statement. Having received an extension […]