MGM’s LeoVegas play; big deal with bigger implications
On its own, the deal is certainly not the biggest seen in the sector. That $607m can be more than covered by MGM’s money in the bank. LeoVegas generated revenues of €391.2m in 2021 and €43.3m of EBITDA. Accompanying the news Monday, LeoVegas also released its first-quarter earnings showing revenues for the three-month period up […]
RSI builds on Q3 momentum
Rush Street Interactive Q3s Revenue up 57% YoY to $123m, net loss $18.9m vs. $26.5m, AEBITDA loss $12.2m vs. $1m. Advertising and marketing costs rose to $45.4m (37% of revenue) vs. $17.5m, MAUs up 26% (undisclosed number), ARPMAU $380. FY guidance raised to $480- $500m from $465-$495m, 76% YoY growth at midpoint range. RSI has […]
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 […]
Golden Nugget mines Michigan seam
Golden Nugget Online Gaming The top line Revenue was up 54.2% to $26.7m while the company fell to an adjusted EBITDA loss of $3.5m from a profit of $2.9m in Q120. Net income hit $69.6m reflecting non-cash gains on warrant derivative liabilities of $81.1m. The company maintained its full-year outlook of revenue in the range […]
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 […]