Earnings+More - Caesars opens up the toga
Caesars opens up the togaCaesars’ preliminary earnings, By the numbers – PA and MI, Flutter analysts reaction, Product+More – Sportradar’s Alpha Odds +More
And no alarms and no surprises. Caesars’ preliminary earningsAlongside a tender for $3.4bn of its outstanding bonds came news about Q4. Jumping the gun: A new debt deal announced on Thursday has seen Caesars issue preliminary figures for its Q4 earnings, with revenue likely to be flat at the midpoint of a predicted outcome of $2.82bn-$2.84bn.
No surprises: The team at Deutsche Bank noted there likely wouldn’t be any surprise in the weakness relative to consensus displayed in the preliminary numbers.
Taking the hit: In line with what has already been said by Flutter about November’s adverse sports results, digital is also predicted to come in below consensus, with revenue $44m worse than would have been the case while adj. EBITDA was ~$29m lower.
Gamification, mobile gaming, AI, UX enhancements and design and responsible gambling are just some of the trends that are set to dominate the iGaming industry in 2024 as it seeks to harness those new technologies and their benefits to millions of consumers across regulated markets worldwide. Read the Sof2Bet feature and let us know your thoughts on what we should look out for in 2024! +MoreDown the drain: More trouble looms for Bally’s permanent Chicago casino project, after the discovery of old water pipes at the site of its planned second-phase 400-room hotel means a new location might have to be found, according to the Chicago Sun Times.
Las Vegas Sands has said it will invest a further $750m in a second phase of development of the Marina Bay Sands resort in Singapore. This is on top of the $1bn already committed to the work.
ICYMIThis week in Earnings+More, 888 and Flutter (also see below) offered a compare-and-contrast on the UK and Ireland. Meanwhile, in Compliance+More, the UN report on Asian organized crime and its links to gambling and crypto was the main story on Thursday. By the numbersPennsylvania: ESPN Bet managed 10% share of both sports-betting handle and GGR in December but, after promos, the NGR share fell to 2%. In NGR terms, FanDuel maintained leadership with 54% share, followed by DraftKings on 26%. 👀 Pennsylvania sports-betting NGR share, Dec23
Michigan: Promo spend outpaced GGR in December, up 44% YoY vs. the 31% rise in revenue to $66m, while iCasino rose 19% to $181m. ESPN Bet achieved 11% share of handle, while the promo-boosted GGR share was 12%, down from 18% for the parietal month of November.
Flutter reactionGetting away with it: Flutter managed to reassure the analysts over an adverse sports results-afflicted Q4 with numbers that were commonly seen as being “better than feared.” The £1.14bn was some 11% down on previous implied guidance and 4% lower than recent Street estimates.
Islands life: The team at Regulus were impressed with Flutter’s Q4 performance in the UK and Ireland. In a compare-and-contrast with 888 – which reported a day previous – the team noted Flutter had provided 25 ppts of outperformance.
The shares weekDual control: Flutter remained on track to see its shares dual-listed on the NYSE on Jan. 29 after it filed registration forms with the SEC.
🗽 Flutter up over 15% on Thursday, up 18% on the week to date EveryMatrix delivers iGaming software, solutions, content and services for casino, sports betting, payments, and affiliate/agent management to 300+ global Tier-1 operators and newer brands. The platform is modular, scalable, and compliant, allowing operators to choose the optimal solution depending on their needs. EveryMatrix empowers clients to unleash bold ideas and deliver outstanding player experiences in regulated markets. Product+More – Sportradar Alpha OddsWhat is it? Alpha Odds is an odds recalculation tool that allows operators to generate bespoke betting prices in line with their risk exposure and liabilities, while also reducing volatility and improving efficiency. Its AI capabilities essentially smooth out the margin performance of its operator clients.
Oversight: There is trading team oversight, along with operational account managers, who make sure the technology is performing as it's supposed to. Moreover, Sportradar recently installed a brand-new specialist liability trading team to oversee the technology and ensure it is configured in the most efficient and appropriate way.
Small notes that when it came to the bad run of soccer results last October, Alpha Odds helped to reduce trading volatility each weekend. This is because the technology understands each operator’s held exposure, coupled with the insight it has on how each operator’s customers are placing their bets.
VAR from the madding crowd: Sportradar says this leaves the sportsbooks on the MTS platform better prepared to take on the next looming challenge facing the industry – the changing nature of the actual game.
Watching brief: For now, the models – whether Alpha Odds or those employed across the industry – are unlikely to be adjusted “based on some early-season outliers.” But the odds machines will be keeping a close watch. Calendar
Sportsbook operators & providers - Are you looking to up your risk management & trading game in 2024? Set a meeting with Matchbook at ICE 2024 February 6th-8th to discuss any of the following:
Matchbook B2B - Because the best price is for everyone. Visit http://www.matchbook.com/promo/b2b or get in touch at b2b@matchbook.com An +More Media publication. For sponsorship inquiries email scott@andmore.media. |
Older messages
FanDuel shrugs off football hit
Thursday, January 18, 2024
Flutter trading statement, 888 reaction, analyst 2024 outlooks +More
888 promises bright new dawn
Wednesday, January 17, 2024
888 trading update, DraftKings downgrades, Flutter and Caesars takes +More
No pressure: Entain awaits its new boss
Tuesday, January 16, 2024
What next for Entain? M&A in 2023 +More
To buy or not to buy, that is the question
Monday, January 15, 2024
M&A outlook, Bally's tumble, analyst takes, startup focus – Lucra Sports +More
ESPN Bet on course for second-tier status
Friday, January 12, 2024
ESPN Bet numbers, LiveScore earnings, analysts outlooks +More
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