Sands sheds $3bn on investor Macau fears
Sands sheds $3bn on investor Macau fearsLVS earnings reaction, 888 progress, sector watch – retail financial trading +More
You do it to yourself, you do, and that's what really hurts. LVS sheds 9% on Macau fears’Fessing up: Las Vegas Sands saw its share price drop by nearly 9% on Thursday following an earnings announcement that showed the company missing consensus estimates in Macau due to construction disruption at the Londoner property and its Macau Arena. Of the disruption effects, COO Patrick Dumont said on the call with analysts “we did this to ourselves.”
😱 Las Vegas Sands shareholders have a day to forget Sing when you’re winning: There was better news from Singapore where Goldstein said the record numbers being produced by Marina Bay Sands were an example of “what happens when a superior product is located in the proper market.” Notably, the company has completed its refurb of two of the hotel towers at that property, while the $750m renovation on Tower 3 has commenced.
By the numbers: Singapore generated adj. EBITDA of $597m, up 52% YoY and helping to push total adj. EBITDA up 52% to $1.21bn. Revenues rose 40% to $2.96bn. I’m walking here: Goldstein said LVS was “very disappointed” by the ongoing delays to the decision over the awarding of licenses for downstate casinos in New York.
Thai boxing: Goldstein was more optimistic about the progress made in Thailand towards opening up the market to resort casino. Though pointing out it was “early days,” he said it was a “very exciting market on a lot of levels.”
Kambi Group is the leading provider of premium sports betting technology and services, empowering operators with all the tools required to deliver world-class sports betting and entertainment experiences. The Group’s services not only include its award-winning turnkey sportsbook but also an increasingly open platform and a range of standalone sports betting services from frontend specialists Shape Games, esports data and odds provider Abios, and AI-powered trading division Tzeract. Together, we are limitless. For more info, go to www.kambi.com +MoreNeoGames has confirmed it has received all the necessary regulatory approvals required for the completion of its merger with Aristocrat. Bet365 and Playtech have announced the launch of a new live casino game show called Super Mega Ultra. The game will feature multiple payout options and is accessible in the UK, Mexico and Ontario. Pragmatic Play has expanded in Brazil by integrating its portfolio of games with Pixbet. Anything you can do: Meadowlands is likely to get the green light to open a casino in the northern part of New Jersey after New York City casinos open, according to an AP report. By the numbersNorth Carolina: OSB handle for the first partial month of March hit $659m. Promos made up $203m of the total. GGR came in at $66.5m. Ontario: GGR rose 72% YoY to C$2.4bn ($1.7bn) in 2023, according to iGaming Ontario. Total wagers, not including promos, reached C$63bn, a 78% increase YoY. iCasino represented C$1.8bn of the total while OSB was worth C$588m and poker was worth C$67m. Read acrossBanned! Jontay Porter pays the price for betting on his own team, in Compliance+More. In LosIngresos+Mas, meanwhile, Brazil’s finance minister sets up a working group to settle upon the regulatory framework. Coming soonWhat we’re readingDustin Gouker on how ESPN Bet is doing. And from EKG, a look at the damage Fanatics has wrought to DraftKings’ VIP business in New Jersey. Capital Markets Forum, New YorkNow or never: The last few remaining tickets are still available to subscribers using the code EARNINGS100. Click here or below.
888 updateBaby steps: The first signs of progress for CEO Per Widerström’s new strategy were visible in Q1, with revenue for the three months of £431m slightly ahead of the guidance range laid out in the FY numbers at the end of March. This represented a 2% increase in Q4 but a 3% fall YoY.
All change: Widerström said 888 had now “lapped various regulatory and compliance changes” and that it was now full steam ahead with the newly minted ‘value creation plan’ where the aim was to see sustained revenue growth of between 5% and 9% a year.
Earnings in briefRank: The Grosvenor Casino to Mecca Bingo operator saw continued progress in its FY24 third quarter, with revenues up 6% to £182m, and with revenues up in all divisions. Year-to-date revenues of £545m were up 8%.
FDJ: Q1 revenues rose 7.2% to €710m, with the former monopoly operator saying it saw strong momentum in its online games unit. Lottery revenue rose 1.4% to €504m while sports betting and gaming was up 9.5% to €141m. Other revenue rose 77% to €65m.
Monarch Casino: Net revenue rose 4.3% to $122m while adj. EBITDA was up 5.7% to $38.5m, as the company said its Black Hawk, Colorado property continued to take market share. Analyst takesEntain: While Q1 was ahead of expectations, the team at Jefferies said they did not expect any material change to consensus EBITDA for the year of £1.05bn. The team pointed out the “streamlined focus” on core markets should lead to a turnaround in NGR momentum later but that the next catalyst would be the “upcoming” CEO appointment. Innovation sits at the heart of everything we do at Soft2Bet so it was highly rewarding to win the In-House Innovation of the Year prize at the EGR Nordics Awards 2024. Motivational Engineering Gaming Application (MEGA), the industry-leading gamification system we unveiled at ICE London 2024 was recognised by the EGR judges. Congratulations to all our teams for making this product a reality! Sector watch – retail financial tradingThat’s a plus: The retail CFD and spread-betting house Plus500 said revenue rose 4% YoY and 14% sequentially to $216m, helped by what it said was an “already not insignificant” contribution from new customers to its retail offering. New customers rose 13% YoY and 61% QoQ to 32k. Betting against the house: As was noted by The Times, this translates to the company profiting from customer losses given it only partially hedges against positions taken by its customers. Client losses – or customer trading performance, as Plus500 terms it – came in at $30.6m.
The trading statement said that further “strategic progress” had been achieved in the quarter, including in the US futures market where the B2B institutional offering “continued to perform well.” In the UAE, meanwhile, it said it had seen increases in new and retained customers. Calendar
Let’s Get Results. InclineBet’s specialist digital marketing services, including high-performance UA, CRM, Creative and Branding for clients in global regulated markets, are backed by data analytics and measurable results. With our deep market focus and unrivaled expertise, we build brands and help you acquire high-value customers and maximize lifetime value. We give you a competitive advantage. Learn more. incline.bet An +More Media publication. For sponsorship inquiries email scott@andmore.media. |
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The Capital Markets Forum, New York
Thursday, April 18, 2024
Our debut event on May 6 at the New York Stock Exchange ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Games Global files for IPO in New York
Wednesday, April 17, 2024
Games Global float, Entain's first quarter, Inspired earnings review +More ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Turn, turn, turn: betting and gaming overrun by strategic reviews
Tuesday, April 16, 2024
Strategic reviews abound, the quarterly roundup of deals from the first quarter +More ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Caesars gaining traction in iCasino, losing ground in OSB
Monday, April 15, 2024
Caesars's analyst downgrade, Star problems, Entain's likely negatives, startup focus – EQL Games +More ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Dynamic duo fascinate investors
Saturday, April 13, 2024
DraftKings and FanDuel dynamics, BlueBet merger plans, parlay analysis, sector watch – collectibles +More ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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