The market share squeeze
Wynn Resorts is the biggest name so far to suggest the marketing battle in US sports-betting is unsustainable, but earlier in the current results season, it was already evident that the pressure was telling. What Kindred and PointsBet had to say about their respective US businesses showed how the barrage of marketing witnessed since the […]
Read MoreWynn beats online retreat
Wynn Resorts Q3 The top line Revenues nearly tripled to $994.6m while adj, property EBITDA was back in positive territory at $154.6m from a loss last year of $65.9m. Las Vegas properties generated $476m of revenues and $183.4m in adj. EBITDA (beating consensus) and Macau revenues stood at $312m while adj. EBITDA was at $10.2m […]
Read MoreDraftKings hit by NFL results
DraftKings Q3s The top line Revenue of $213m, up 60% YoY but net losses climbed 37.7% to minus $545m while adj. EBITDA losses rose 59% to $313.6m. Net losses for the nine month stood at $1.2bn. B2C revenue came in at $189.1m and B2B at $23.7m (down 20% YoY). Guidance for FY21 was narrowed to […]
Read MoreMGM *hearts* NY
MGM Resorts International Q3 The top line Revenue up 140% YoY to $2.7bn and consolidated adj. EBITDAR of $765m, Las Vegas revenues up 187% YoY to $1.4bn but down 8% on Q319. Adj. EBITDAR up to $535m from $15m in Q320 and up 21% on Q319. Margin up 943 bps on Q219. Regional revenues to […]
Read MoreCaesars readies for full digital assault
Caesars Entertainment Q3 The top line Net revenues of $2.7bn vs. $1.4bn Q321, net loss of $233m vs. -$926m YoY. Caesars Digital net revenues of $96m ($221m YTD), EBITDA loss of $164m ($171m YTD). LV net revenues $1.017bn, up 234% YoY $304m; adj. EBITDA of $500m up 44% vs. Q319; regionals $1.54bn vs $1bn Q320, […]
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