Las Vegas Sands: desperately seeking visibility
Las Vegas Sands Q321 The top line Revenue rose 92.2% YoY to $857m while adjusted EBITDA came in at $47m vs. a loss of $163m in Q320. As of the end of September LVS had $1.64bn of cash on its balance sheet and access to $3.93bn of available credit. The shape of a pear: On […]
DraftKings M&A depends on crumbling share price
Ask yourself a question: would you buy shares in DraftKings right now? This is the question that is central to the company’s M&A efforts and the answer is far from clear cut. Tear yourselves away from G2E for a minute and direct your attention to the recent news about Zoom and its merger bid for […]
Catena Media’s European writedowns
Catena Media Q3 update The top line Revenue estimated at €33.1m, up 33% YoY with North American operations up 124% and now worth 51% of total group revenues. Adjusted EBITDA estimated at €16m, up 33%. German revenue fell 82% over the period and now down to 4% of group revenue. A total writedown of €49.4m […]
Germany and Netherlands dog 888
888 trading update The top line Revenues rose 7% (+3% on constant currency) YoY to $229.9m; gaming revenues were up 11% to $193.5m, sports betting was down 15% to $26.8m. B2B revenues were up 4% to $9.6m. YTD revenues were up 28% to $758.3m, with B2C gaming up 27% to $622.3m and B2C betting up […]
Aristocrat buys Playtech for £2.7bn
The top line The deal values Playtech at 680p a share which represents a 58.4% premium to the share price on Friday. The £2.1bn offer will also see Aristocrat take over Playtech’s ~£600m of debt. The valuation is 11.4x EBITDA for the 12 months to June. The deal has been unanimously accepted by the Playtech […]