Earnings+More - Got beef
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Blame gameTake a Chancery on me: A group of 20 institutional investors in Entain have filed a claim in London’s High Court for damages caused to the value of their shareholdings by the outcome of the HMRC bribery case into Entain’s previous dealings in Turkey.
See you in court: In a statement, an Entain spokesperson said it is “aware of these claims but has not yet been formally served with them, so these matters are at a very early stage.”
The hits keep coming: Entain made provision for £585m last August after it reached a settlement with the UK’s tax authorities over a bribery charge related to its now long disposed of Turkish-facing business.
Weighed down: Since the likely size of the provision was first announced, the Entain share price has fallen nearly 45%.
🤮 Vomiting camel: Entain’s share price down nearly 45% in past year Join 100s of operators automating their trading with OpticOdds. Real-time data. Proven trading tools. Built by experts. Meet us at SBC Lisbon & G2E Vegas. Join top operators at www.opticodds.com. +MoreChicken dinner: Evoke has laid out £10m for a controlling 51% stake in Romanian operator New Gambling Solutions, which runs the Winner.ro brand. Together with 888’s existing Romanian business, it will make the combined operation #4 in the country with ~7% market share.
Nanny knows best: William Woodhams, CEO at high-end UK-facing bookmakers Fitzdares, says that to save UK horse racing small stakes punters should be encouraged to bet via the Tote or equivalent offerings at the expense of using fixed-odds.
BetMGM announced it has become the first sports-betting app to offer Nevada bettors seamless, nationwide connectivity through a single digital wallet. BetMGM is now the only OSB app to allow Nevada residents and visitors to wager in the state and carry their funds to BetMGM mobile markets nationwide. The US Betr has acquired a license to Huddle’s odds-making tech, which will allow it to build its own IP around same-game parlays and micro-bets. Betr had already integrated Huddle’s software in its sportsbook platform. Flutter has opened a technology center in Hyderabad, India, as part of its $3.5m investment in the region. Golden Matrix has acquired 80% of an Australian-based discount platform called Classics for a Cause for $8.4m, as it branches out into the loyalty and rewards market. Lottery.com has finalized the deal to buy the technology behind its Sports.com brand. Read acrossIn Compliance+More this week, sweepstakes in the US are generating heat after a memo from the American Gaming Association (AGA) ramped up the pressure on a product that it said “threatens consumers and undermines gaming regulations.” In The Token Word, Tim Heath, the man behind Yolo and a number of crypto-based gambling businesses, said his aim is to collar the high-end crypto user while rival Stake.com “wants to be bet365.” +More careersThe big move: Jake Williams has joined Underdog as the new SVP of operations. He was previously COO at PointsBet US until it was sold to Fanatics and before that he was VP of legal and regulatory affairs at Sportradar.
What a long strange trip it’s been: Tim Cogswell, one of the founding team at betPARX, has announced via LinkedIn he has left the company and will be taking up new opportunities in the months ahead. Max Tappeiner has taken up a new role within Wynn Resorts as the president for the Wynn Al Marjan project in the UAE. Tappeiner assumes the role on September 1. He was previously EVP of operations at Wynn Las Vegas. Rivalry has appointed Demi Abidogun-Benson as interim CFO. Benson has been with the company since 2022 and has over a decade of experience in corporate reporting, planning and analysis. MGM Resorts has appointed former IHG Hotels & Resorts CEO Keith Barr to the board. John Foster has been appointed as the CEO at iCasino product design provider iGate. Konami Gaming has appointed Chris Rowe as VP of North American game sales and Shane Thompson as director of sales and corporate accounts.
Click and CollectiveThe searchers: Better Collective said its media partnerships would continue in a “slightly moderated format,” despite an unspecified US deal being “impacted” by decreased rankings after Google made changes to the way it treats third-party content.
Ace’d it: A better story emerged in Europe and the rest of the world where revenues rose 33% or 16% organically, meaning total revenues were up 27% to €99m. But adj. EBITDA was down 2% at €28.5m.
Eye for a bargain: The Playmaker HQ sports media buyout from Jul23 has proven to be more problematic. After a period of underperformance, BC has settled the earnout for the business early with a final price of $23m, some $31m lower than initially agreed.
🚧 Investors in BC might need more reassurance Unlock new jurisdictional licensing in weeks, not months with OneComply! Your gateway to effortless licensing and compliance management. Say goodbye to the complexity of submissions and hello to 95% efficiency from start to finish! Complete your first licensing application 50% faster, get real-time alerts for immediate compliance actions, and slash legal fee costs by up to 90% with no more duplicate tasks. Click here to connect with us and discover how much more you can accomplish with OneComply. Kicking on Down UnderGoing through the gears: PointsBet is at an “important inflection point” in Australia where operating leverage “kicks in” and revenue growth will translate directly to the bottom line, said CEO Sam Swanell.
For 2025, PointsBet is preciting EBITDA profits of A$11m-A$16m from revenues of A$280m-A$290m. Swanell told analysts the projections wouldn’t be affected by any proposed changes to the gambling ad regime in Australia.
Climb every Mountie: The reconfigured PointsBet is focused solely on Australia and Canada after having sold its loss-making US operation to Fanatics for $225m in June last year.
🔥 Inflection point chat boosts confidence Earnings in briefThe Lottery Corporation: The Australian lottery operator said revenues rose 14% YoY to A$4bn ($2.7bn) while EBITDA was up 16% to A$827m. Noting the mass-market popularity of the basic lottery product, the company spoke about the queues seen outside retail outlets when the Powerball jackpot hit A$200m.
Sky City Entertainment: Revenue was static at NZ$960m ($591m) while underlying EBITDA fell 8% to NZ$228m. As previously warned, the company took a NZ$94.3m writedown against the value of its Adelaide property during the year and also made a NZ$130m provision against changes to New Zealand tax legislation. Acroud: The now largely affiliate services provider saw revenue dip 8% to €9.5m while EBITDA went down in sympathy, off by 9% to €1.2m. After quarter close, the company paid back a nominal amount of the outstanding SEK190m (€16.7m) bond after receiving approval from bondholders. The company said it faced limited disruption from recent Google changes. Algosport are regarded as one of the ‘best-kept secrets’ in the gambling industry, currently supporting hundreds of Tier 1 and challenger operators with our proprietary Algosport Blackbox – a powerful engine capable of supercharging your sportsbook. We are best known for our next generation Bet Builder/Same Game Multiples product that offers the widest range of sports with unrivalled coverage, markets and features, both pre-match and in-play. To understand how we could help create more revenue get in touch at www.algosport.co.uk Earnings calendar
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Older messages
Back in the mixer
Wednesday, August 21, 2024
DraftKings could return as a bidder for Rush Street Interactive ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Reverse ferret
Tuesday, August 20, 2024
DraftKings backtracks on player surcharge ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
🥇Puntare all'oro
Tuesday, August 20, 2024
Flutter bids for top spot in Italy with Snai talks ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Think Globo
Tuesday, August 20, 2024
BetMGM to partner with media giant for Brazil venture ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Tarnished
Tuesday, August 20, 2024
DraftKings' attempt to rewrite the OSB rules backfires ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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