Wynn fires cannon on online Austerlitz deal
Wynn The top line Operating revenues fell 23.9% to $725.8m ($953.7m Q120) and net loss was $281m or $2.53 per diluted share, compared with a loss of $402m or $3.77 per diluted share, in Q120. Adjusted EBITDA at the group’s resort properties increased $17.2m, $50.2m and $43m at Wynn Palace, Las Vegas, and at the […]
Street hits like on DK’s social plans
DraftKings Analysts: Deutsche Bank, Macquarie, Credit Suisse, Truist Securities, Jefferies Extending losses: Deutsche Bank (hold) suggested the marginally worse than expected EBITDA losses performance in Q1 has led expectations for losses for the year to “migrate lower” – they are now projecting losses of $551m versus prior estimates of $460m. The revenue beat was due […]
Penn’s Snowden: Bring the chaos
Penn National Gaming The top line Revenue down 6% compared with Q119 at $1.27bn, adjusted EBITDAR up 7% on Q119 at $447m. Adjusted EBITDAR margins up by 434bps. Northeast segment up 3.7% on Q119 to $570.9m, south segment was up 1.3% on Q119 to $295.9m, west segment was down 39% to $96.6m, midwest was $234.7m, […]
DraftKings tight-lipped on SBTech migration
DraftKings The top line Revenues rose fourfold to $312.3m while net losses from operations widened in lockstep to $324.8m from $66.1m in the prior year period. The net operational cash flow drain went from $50.8m to $77.8m. Sales and marketing expenses rose to %228.7m from $53.7m, a 325% YoY rise. B2C revenues rose to $280.8m, […]
LeoVegas’ German rout
The top line Q1 revenues increased by 8% to €96.7m (€89.4m Q120) with organic growth in local currencies of 8%. Adjusted EBITDA was €10.9m (€9m Q120) with adjusted margins of 11.3% (10% Q120). Adjusted earnings per share were €0.07 (0.06 Q120). The number of depositing customers grew 12% YoY to 462,386 (413,269). Germany continues to […]