Aug 23: Better Collective makes Mass move
Aug 23: Better Collective makes Mass moveBetter Collective Q2, DAZN Bet launch, Macau gaming update, Everi analyst update +MoreGood morning. On today’s agenda:
Better Collective Q2
Think Global: Better Collective’s latest media partnership with the online arm of the Boston Globe comes ahead of the Massachusetts OSB launch in the new year. Under the terms of the deal, the affiliate will provide VegasInsider-branded betting-related content and direct links to operator partners.
Tall poppy: Revenue growth came despite a tough comparative period last year, Notably, on a quarterly comparison revenue was down 16.9% QoQ while adj. EBITDA fell 47.2%.
Performance indicators: Regarding the slowdown in US marketing and promotional activity over the summer, Søgaard repeated the message that affiliates should benefit from any move to reallocate spending.
Turmoil: The company said it was not affected by the ups and downs of the economic cycle, but CFO Flemming Pedersen did suggest the current market turmoil might mean it would need to seek alternative financing arrangements for any future M&A with bonds being on potential route. **Sponsor's message: Join senior leaders from Flutter, Entain, bet365 and hundreds of others from across the industry in downloading Spotlight Sports Group's second edition of the BetTech Ecosystem. The report provides key insight into the global market of suppliers for sports betting and iGaming operators. While the visual offers an overarching view of the key suppliers across the 41 segments that make up the BetTech Ecosystem. Click here to download the BetTech visual and the full report. DAZN Bet launch
Casual conversations: DAZN Bet has debuted in the US with a pilot offering ahead of planned launches in Ontario, Spain and further European markets before the end of this year. The company said it hopes to “refresh the casual betting market” with a “more recreational, sociable, and relevant experience”.
Be pragmatic: The news launch will be a test for the platform provided by Pragmatic Gaming. The press release noted that “soon” DAZN would be offering betting, sporting NFTs, tickets and merchandise. Juice Reel dataLow-hanging fruit: Analysts at Truist suggest the data from 6.2k+ active bettors using the bet tracking and analytics app Juice Reel offers insights into issues such as hold percentage, growing parlay mix and an insight into the Ontario market.
Macau update
Living on the ceiling: The team at Jefferies says the Macau gaming revenue recovery could have reached a “near-term ceiling” following the news that 26 Chinese provinces reported at least one local infection case in the past week.
Everi Holdings analyst updateEvery little thing she does: After meeting management at Everi, the team at B Riley said strong underlying trends in gaming as well as growing fintech digital wallet wins were good signs of Q3 activity.
Earnings in briefStar Entertainment: The Australian-based casino operator saw revenues for the year fall 1.6% to A$1.52bn while EBITDA dropped 44.9% to A$236.7m and the company fell to a pre-tax loss of $200m. The company was hit during the year by pandemic-related closures and a writedown against the value of its Sydney property. DatalinesLouisiana: Land-based GGR for July was down 8% YoY to $204.2m but 1.0% up on Jul19. Same-store GGR was 6.7% above 2019. Penn’s Louisiana properties had a combined July GGR of $78.5m, down 3.9% YoY.
Atlantic City: Q2 revenues were up 14.1% YoY to $828.8m while gross operating profit came in at $183.6m, down 1%. For H1 GGR hit $1.5bn, up 19.9% while gross operating profit rose 20.9% to $339.3m. NewslinesKambi has signed an agreement with Oaklawn Racing Casino Resort to provide its on-property and online sportsbook solutions direct to Arkansas-based racetrack and casino operator. On the grid: BetMGM and sports-betting streaming platform SportsGrid have announced an extension of their strategic partnership with BetMGM’s trading team and experts providing insight during broadcasts. Australia’s Northern Territory Racing Commission has issued draft regulations that would enable licensed operators to accept sports bets using cryptocurrency. As part of the process bookmakers must state whether they will accept wagers using cryptocurrencies. English League One club Lincoln City have suspended striker Chris Maguire after he was charged with breaching betting rules by the Football Association. It is alleged that the 33-year-old placed 52 bets on matches between March 2017 and February 2022. On socialCalendar
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