Earnings+More - Asia gains the driver for Evolution
Asia gains the driver for EvolutionBreaking news: UK White Paper, Evolution’s mixed message, Churchill Downs earnings, Rivalry new cash +MoreGood morning. On today’s agenda:
He's never early, he's always late. Breaking 1: UK White PaperThe UK government has finally released its White Paper on gambling. Among the highlights:
For more, go to the Compliance+More White Paper special, which will be released later today. Breaking 2: Flutter to vote for US dual listingAll those in favor: The Flutter AGM is being held today where it is expected that shareholders will vote to enable the company to seek a dual listing in New York in the coming months. Evolution futurecastsCEO says iCasino sector can’t stand still and wait for the future to happen. Perpetual motion: Martin Carlesund, CEO at the leading live casino provider, said the iCasino space couldn’t afford to sit back and wait for the customer of the future to come to them automatically.
He was speaking after the company showed revenues rising 32% to €430m while EBITDA was up 31% to €300m, equating to a margin of 70% and driven by live casino where revenues rose 36% to €360m.
LatAm breakout: A demonstration of the growing importance of Latin America comes from Evolution’s new geographic breakdown, which splits the region out for the first time. For Q1 it represented 7% of total revenues or €30m, up 75% YoY.
Slowly, slowly: Asked about why the company was only predicting slow penetration of live casino in North America, he said “it takes a while” for customers to get to know the product. “You need to be comfortable,” he added. Happy with that you’ve got: On M&A, Carlesund said the company was “very particular”, but he noted that the company had the “right product mix” for RNG. 🧐 Evolution falls nearly 4% in early trading ** SPONSOR’S MESSAGE** The Huddle Journal The NBA playoffs are here and Huddle's got some slammin' stats to share!
Huddle is bringing the heat this season! Find out more: https://huddle.tech/ DraftKings on streamAn ad-supported streaming service of its own podcasts is on the cards, says report. In pod we trust: DraftKings is planning to launch a streaming service showing videos of its podcasts to be called DK Network, according to a report from Bloomberg.
All about the content: DraftKings previously acquired media company Vegas Sports Information Network (VSiN) and has a partnership with Meadowlark Media, a sports-media startup founded by former ESPN president John Skipper and former ESPN host Ban Le Batard. It also has a deal with podcast entity iHeartMedia. Betsson’s world tourGrowth from Latin America and Eastern Europe are the Q1 drivers. Worldwide: CEO Pontus Lindwall said Latin America and Europe drove the 30% growth to €222m, with EBITDA shooting up 62% to €54m during Q1. Revenues from Central and Eastern Europe grew 75% to €93.5m and were now the largest contributors of group revenues at 42%, with Croatia and Greece the standouts.
Nordic cool: Lindwall added that the group was still happy with the Nordics but had “cooled on marketing” in Sweden and had adapted its offering to comply with Norway regulations, which dragged down revenues from that market.
Churchill Downs first lookHHMdinger: Live and historical horseracing led the way as the company saw revenues rise 53% to $560m, helping adj. EBITDA soar 73% to $223m. In corporate news, the company recently raised $600m via an offering of senior notes and announced a two-for-one stock split.
Rivalry reaches PinnacleTransformers: Rivalry announced a $10m investment from bookmaker Pinnacle and other gaming technology payments stakeholders as GGR rose more than threefold to $9m. CEO Steven Salz said the agreement with Pinnacle was a “transformative point” for the company.
M&A linesTiide is high: Entain’s C$13m purchase of Sportsflare has got the go-ahead from Tiidal Gaming shareholders. Sportsflare is an esports-betting odds provider and Entain said previously it would augment its Unikrn esports proposition. ** SPONSOR’S MESSAGE** BettingJobs is the global leading recruitment solutions provider to the iGaming, Sports Betting and Lotteries sectors. Boasting a 20-year track record supporting the iGaming industry, and with a team of experts and world class knowledge, it’s no surprise BettingJobs is experiencing rapid growth with outstanding results. Does your company have plans to expand teams to cope with strong growth and demand? Contact BettingJobs.com today where their dedicated team members will help you find exactly what you are looking for. NewslinesNew York: Las Vegas Sands has finalized a lease agreement with Nassau County for the planned resort casino site at Nassau Coliseum. Knock-on effect: Bally’s property in Twin River, Rhode Island, has suffered a downturn in betting activity due to the launch of OSB in Massachusetts, according to local media. Lottery.com has resumed ticket sales for the Texas Lottery. Betr has received approval from the Massachusetts Gaming Commission and plans to launch in April. Fanatics has also received approval and plans to launch in May. Australian-listed BlueBet’s US subsidiary ClutchBet has been awarded a license by the Colorado Department of Revenue and is now live. Calendar
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