Sector watch – NFTs
Some candy talking: DraftKings’ move into the NFT space via the launch of Marketplace confirmed fan tokens as another area where the convergence between sports and sports betting will potentially be played out. DraftKings is following a path already trod by others including sports merchandise market leader Fanatics (which will soon have ex-FanDuel CEO Matt […]
LVS hopes for $6bn-plus Asian rebound
Las Vegas Sands The top line Net revenue came in at $1.17bn compared to $62m in the Covid-hit prior-year period. Operating losses were trimmed to $139m vs. $757m in Q220. Consolidated EBITDA came in at $244m, flat QoQ but less than a quarter of the $1.11bn in Q219. Macau operation adjusted property EBITDA contributed $132m, […]
Evolution gives it 100%
Evolution Q2 The top line Revenue rose 100% YoY to €256.7m while EBITDA was up 115% to €174.7m corresponding to margins of 68% (up from 63.2% Q220). H121 revenues up 102% to €492.5m. Cashflow from operating activities amounted to €125.3 in Q2, €227.21m in H1. Live casino organic growth up 59% to €203.7m, up 10.9% […]
Scientific Games SciPlay buyout
Play it again: To no great surprise, Scientific Games has announced it is to buy the outstanding 19% of the free float of SciPlay that it doesn’t already own as it seeks to refocus on gaming following the news of the sports-betting and lottery division planned sales or IPOs. The all-stock deal involves circa $430m […]
theScore looks to northern exposure
Score Media & Gaming FYQ3 The top line Betting handle was C$73m, down from C$81.9m in Q2 due to sports seasonality. Betting GGR was -40k, NGR losses were C$2.4m. EBITDA losses were C$21.1m from -C$8m in Q320 with C$5m of IPO costs contributing to the worsening metric. Media revenues came in at C$8.9m, up 270% […]