Earnings+More - Proof of the pricing pudding
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Competing on priceDog eat dog: Pricing within the US OSB space is becoming increasingly competitive, suggesting the recent M&A activity in the areas of pricing and trading is feeding through to the offerings in the market. According to data from pricing analytics firm HoldCrunch, the differentials between pre-game and in-play propositions are particularly fierce.
Recent deals include Caesars’ acquisition of Australian-based micro-betting provider ZeroFlucs, Entain’s acquisition of Angstrom, DraftKings’ deal for Sports IQ and Fanatics’ purchase of Pointsbet US, which included the Banach Technology outfit.
He notes that Fanatics has the “widest variance” in recent months, being very competitive with its NBA pricing, especially in-play, but at the same time being the least competitive in MLB. Meanwhile, Caesars is the opposite, with a less competitive offering in-game in NBA and a far more competitive one in MLB.
The big picture: Zooming out, HoldCrunch finds FanDuel remains the keenest on price, but that ESPN Bet and BetMGM have recently inserted themselves in second and third spot respectively, with DraftKings in fourth.
🏁 The race for top spot by price – the pricing landscape Q223-Q224 Data: HoldCrunch Venture capital firm Yolo Investments manages in excess of €500m in capital across 100 exciting fintech, gaming and blockchain companies. The Yolo Investments' Gaming fund, regulated by the Guernsey Financial Services Commission, has taken positions in fast-growth suppliers and operators, including Dabble and Enteractive. Yolo Investments (yolo.io) wants to hear from readers of this newsletter. Get in touch with your pitch, or for a chat about innovative products which can plug into our investment ecosystem. +MoreWant you back: Musburger Media has announced it has bought back the Vegas Sports Information Network (VSiN) sports-betting media business, which it originally sold to DraftKings for $70m in March 2021. The terms of the purchase were not disclosed but as was reported by EKG, which broke the news earlier this month, it is likely the sale price was nominal.
Evoke: Having issued a profit warning last Thursday, Evoke has continued to see its share price tumble, with the shares close to having lost a quarter of their value as of close on Monday. The shares have shipped 19p since the warning or ~£76m. 💥 Evoke can’t stop the slide A warm welcome: In comparison, Gavin Isaacs appointment at rival Entain was warmly welcomed by the market, with the shares receiving a 5% boost in the day and up a further 1% in early trading this morning.
Bet365 has received approval from the Pennsylvania Gaming Control Board to launch its mobile sportsbook and online casino in the state via a partnership with Churchill Downs’ Presque Isle Downs & Casino property. Bet365 is now live in 11 states. Gaming Innovation Group has signed a second deal for backend provision in the UK, with Betzone the latest operator on the books following the agreement earlier this month with The Football Pools. iCasino market sharesSame as it ever was: Stasis ruled supreme for iCasino market shares in Q2, according to data compiled by the analysts at JMP, who pulled together the numbers from the four states to have reported to date.
Bottoms up: The team at JMP noted that BetMGM’s market share “appears to have bottomed” YTD at ~21%, which they suggested was an “encouraging sign for the company as it took a step back to invest in the business following the market share decline starting in late 2022.”
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Older messages
Preparing to fail
Monday, July 22, 2024
Penn making 'same mistake' with ESPN as it did with Barstool, claim departing employees ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Definition of madness
Friday, July 19, 2024
Evoke tries to reinvigorate UK biz with marketing blitz. Fails. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Situation vacant
Tuesday, July 16, 2024
The lack of a new CEO at Entain reflects the size of the task ahead ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
💰The billion-dollar mortgage
Monday, July 15, 2024
GLP stumps up nearly $1bn to fund Bally's Chicago casino build ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
The way out
Friday, July 12, 2024
Betway owner the 18th operator to conclude OSB is not worth the candle ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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