DraftKings 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 […]
Penn and Bally rely on more than just one bite
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 […]
MGM *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 […]
Caesars 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, […]
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 […]