This must be the place: The Capital Markets Forum, taking place at the New York Stock Exchange on the afternoon of May 6 in conjunction with SBC as part of its North America Summit week, is almost upon us.

In this special edition, we outline the full line-up of panels and speakers along with what else attendees can expect on the day.

Remember, subscribers to Earnings+More get a $100 discount on the price. Just use the code EARNINGS100 via this link or click below.

Buy your ticket here

New York conversations

The full agenda

12:30-13:20

Panel 1: PE and gaming

Private dancing: With the era of cheap money long since at an end, it means private equity now has to truly prove its worth. But what can it bring to the gaming space? What is PE's track record in gaming? What do the panel think are the obvious targets for PE involvement on the public and the private side?

The panelists: 

• Joel Simkins, managing director, Houlihan Lokey

• Nanette Heide, global co-chair, private equity group, Duane Morris

• Adam Rosenberg, senior advisor, gaming and leisure, Blackstone

• Moderator: Andrew Ng, lawyer, corporate, commercial and securities, Segev LLP

13.20-14:10

Panel 2: Billion-dollar babies: the swing to profitability

Cash pile: What does the swing to profitability and the emergence of the billion-dollar EBITDA behemoths mean for the rest of the US OSB and iCasino sector? As the profits pile up for the sector leaders from 2025 onwards, what does that mean for the rest of the sector? How will this cash be deployed? Does it mean more M&A or will it be handed back to investors?

The panelists: 

• Andrew Fabian, investment banking, global technology group, Citi

• Barry Jonas, managing director, Truist Securities

• Chad Beynon, senior equity analyst, Macquarie

• Lloyd Danzig, managing partner, Sharp Alpha Advisors

• Moderating: Cassandra Lee, senior associate, Bettor Capital

E+M backgrounder: DraftKings and FanDuel duopoly is the “real battle” for investors, say analysts.

14:10-15:00

Panel 3: Safe European home: what do withdrawals from North America say about future ambitions?

Tail between their legs: What can and should managements say to assuage investors’ worries over the wasted cash spent on North American adventures – and what should they tell them about the future? The failure of many European companies to crack North America is a well-known trend and it can be assumed that many will already or soon enough be calling it quits. But what does that say about their future ambitions?

The panelists: 

• Ramy Ibrahim, managing director, Moelis & Company

• Matt Sodl, founding partner and president, Innovation Capital

• Robin Chhabra, CEO, Tekkorp

• Anton Kaszubowski, founder and managing partner, SBC Advisory Partners

• Moderator: Scott Longley, editor-in-chief, And More Media

E+M backgrounder: Kindred pulls the plug on its North American ambitions; 888 sells its US B2C operations to Hard Rock Digital.

15:00-15:50

Panel 4: No more worlds to conquer: what happens when the bolt-on deals dry up?

A juddering halt: The trend towards adding more brands and more markets to the portfolios of the largest operators has been at the forefront of the M&A activity in Europe and elsewhere. But with value enhancing deals being harder to come by and shareholders frustration about expensive further deals, is the bolt-on juggernaut coming to a stop?

Panelists:

• Thomas Nicholls, managing director, strategic advisory group, PJT Partners

• Adam Berger, partner, Duane Morris

• James Brodie, head of interactive international, MGM Interactive

• Gideon Bierer, managing partner, Partis Solutions

• Moderator: Adam Rivers, managing director, corporate transformation services, Alvarez & Marsal

E+M backgrounder: Moelis appointed to look at potential disposals at Entain.

15:50-16:20 

Networking break

16:20-17:10

Panel 5: Short-term memory: have investors forgotten about iCasino

Never gonna give you up: Much of the attention until now has understandably been on sports betting in the US given the lack of progress for state-by-state iCasino. But while the legislative journey will be fraught, more iCasino will be on the agenda and that once again opens up opportunities for more operators to share in the rewards. But are investors listening to this long-term play?

Panelists:

• Davis Catlin, managing partner, Discerning Capital

• Josh Swissman, consultant, GMA

• Lauren Seiler, founder, Global Gaming Advisors

• Eric Hession, president, Caesars Digital

• Moderator: Caroline Ponseti, communications strategist, Invariant

E+M backgrounder: Caesars’ success with iCasino is underappreciated, say analysts.

17:10-18:00

Panel 6: Under attack: activists besiege the gaming sector

The emergence of high-profile activist investors on the shareholder registers of a number of firms in the gaming sector has brought with it headlines and increased speculation about the intentions of the funds in question. But what explains the flurry of interest? Is the presence of activist investors necessarily good or bad for the companies in question? And what does activist interest say about the sector's prospects and the likelihood of more M&A?

The session will consist of a short presentation from Alvarez & Marsal followed by a panel discussion.

Panelists:

• Paul Richardson, partner, Partis Capital

• Tom Waterhouse, chief investment officer, Waterhouse VC

• Filo Fiorani, managing director, Bank of America

• Malcolm McKenzie, managing director, Alvarez & Marsal

• Moderator: Adam Rivers, managing director, Alvarez & Marsal

E+M backgrounder: The betting and gaming sector is overrun by strategic reviews – and activists have been stirring the pot.

18:30-20:00

Happy Hour on the NYSE Trading Floor

Join us! 

If any subscribers want to attend the event, some tickets are still available. Follow this link and use the code EARNINGS100.

Earnings+More looks forward to seeing you in New York.

Buy your ticket here

An +More Media publication. 

For sponsorship inquiries email scott@andmore.media.