Asian gaming shock
Xi who must be obeyed: This week’s Chinese government proposals for tighter regulations in Macau knocked a record $18.4bn in combined share price value off Macau’s gaming operators. The new rules will include increased supervision of operators’ daily activities around VIPs and junkets, a raised level of local ownership, restrictions on dividend payments and the […]
Penn National acquires Score Media & Gaming
Penn-Score acquisition + Q2 The top line Penn National is buying Toronto-listed Score Media & Gaming for $2bn in cash and shares. The deal will complete in Q122. Penn said it expects the deal to add c$200m in EBITDA within two years and $500m-plus at maturity. As per the pre-announced earnings last month, Q221 revenue […]
888 signals ‘return to normality’
888 trading statement The top line B2C revenues up 11% YoY to $247m, B2B down 13% to $10m, total revenue up 10% to $257m. Regulated markets now represent 74% of group revenues from 73% in prior year, with growth in UK, Italy and Spain among others helping to offset falls in Germany. Sport was the […]
Penn National Q2 pre-announcement
The top line Revenues for the three months to June will range between $1.45bn-$1.55bn while adjusted EBITDAR will be between $540m-$580m. At the midpoint for each they represent growth of 18% and 25% respectively and an adjusted EBITDAR margin improvement of 220bps. Compared to Q219 the company expects revenue, Adjusted EBITDAR and Adjusted EBITDAR margin […]
Penn’s Snowden: Bring the chaos
Penn National Gaming The top line Revenue down 6% compared with Q119 at $1.27bn, adjusted EBITDAR up 7% on Q119 at $447m. Adjusted EBITDAR margins up by 434bps. Northeast segment up 3.7% on Q119 to $570.9m, south segment was up 1.3% on Q119 to $295.9m, west segment was down 39% to $96.6m, midwest was $234.7m, […]