Flag drops on Sportradar IPO
Sportradar files for IPO The top line Sportradar filed paperwork on Tuesday with the SEC to start the process of listing on the Nasdaq stock exchange under the ticker symbol SRAD. The listing included a placeholder offering size of $100m. In its filing, the company said H121 revenues increased 42% YoY to €272.1m ($318.6m) with […]
GAN: Operators ‘underestimate’ tech stack challenge
The top line As prefigured in the Q2 pre-announcement, GGR was up 24% QoQ to $34.6m with strong B2C (Coolbet) growth (up 68% to $24m) in Latin America and Europe. B2B was down c$3.5m QoQ to $10.6m. Adjusted EBITDA rose 171% to $4.6m vs. $1.7m in Q1. Net losses were trimmed QoQ to $2.7m vs. […]
Rush Street Interactive: boxing clever
Rush Street Interactive Q2 The top line Revenue was up 89% to $122.8m, net loss was down to $14m vs. $50.6m in Q220. Adjusted EBITDA loss was $6.6m vs -$3.7m in Q220. FY guidance raised to $465-$495m from $440-$480m, implying 72% YoY growth at mid-point. Adjusted advertising and promotions costs were up to $36.9m (30% […]
Entain: ‘We’ve delivered’
Entain H1 The top line Net gaming revenues were up 11% to £1.79bn ($2.48bn) while revenue of £1.77bn was up 12%. Underlying EBITDA up 12% to £401.1m. Online revenue up 29% to £1.56bn (the 22nd quarter of consecutive growth). Ex-Germany, online growth was 38%. Retail was down 46% to £191.3m with continued Covid-related closures. BetMGM […]
AGA – Gaming to the moon
AGA Q2 The top line US commercial gaming revenue reached a record $13.6bn in Q221 vs. previous record of $11.1bn in 2019. At state level, 22 out of 25 commercial casino states saw GGR increases over the two-year comparison. Slot GGR was up 16.7% on Q219 to $8.7bn, table games GGR up 0.8% to $2.1bn. […]