Earnings+More - ’clic bait
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French disko’clic and collect: A name that continues to be mentioned as a potential buyout candidate for larger operators on both sides of the Atlantic is the largely France-facing Betclic, which is currently a part of the Amsterdam-listed Banijay Group.
An eyeful: Betclic was one part of the SPAC deal that brought together its previous parent FL Entertainment and the Banijay TV and media group. Now known as Banijay Gaming, it produced revenues of €992m in 2023 and adj. EBITDA of €252m.
Chef de la course: Betclic is the market leader in the French sports-betting market and also has leading positions in Portugal and most recently established a position in Poland. The company is run out of Bordeaux by long-standing CEO Nicolas Béraud.
👍: One industry M&A expert said Betclic was a “very good business, a great management team, with good in-house technology and nice positioning in France, Portugal and Poland.” Within Banijay, however, the business “sticks out like a sore thumb.” Best in show: The combination of a good betting and gaming business buried within a larger conglomerate explains why there are thought to have been approaches within the few years about potential takeovers.
Luxury item: Among those thought to have ultimately passed up the opportunity are Flutter, MGM, Entain (when it had cash to spend) and DraftKings, while one source suggested a merger with Kindred was considered before FDJ bought that business.
Bait and switch: As the exec added, now the sellers will be “dangling the prospect” of French iCasino in front of potential buyers. “But that could end up being like Belgium where you need to own a land-based casino to stand a chance of getting a license.”
Our platform empowers operators to scale efficiently in highly-competitive and regulated markets utilising a unique set of capabilities, including:
Grow faster. Reduce costs. Challenge market-leaders with confidence. Find out more today, book a demo. +MoreThe fumble in the rumble: Netflix said 60 million households watched Tyson-Paul – or at least attempted to. Netflix has a month to do better. But the bookies were happy. Clouds on the horizon: Nevada’s tourist economy could hit some “bumps in the road” in the next few years, according to a report from UNLV’s Center of Business and Economic Research.
BetMGM has extended its agreement to be the official betting partner of the Vegas Golden Knights. The new deal with the NHL team runs through the 2026-27 season. Earnings in brief: Gaming affiliate minnow SharpLink Gaming said revenue was down 34% to less than $900k. Following the sale of SportsHub for $22.5m earlier in the year, the company is now debt-free. Markets watchBread & butter: The prospect of the Federal Reserve pulling a handbrake turn on interest rates in order to stifle a renewal of inflation was enough to kill the Trump victory buzz across the markets on Friday, and the major gaming stocks were no exception.
Hit & run: It was a glancing blow for Wynn whose share price enjoyed a boost last week following reports of Tilman Fertitta increasing his stake in the company and letting it be known via sources that he was unhappy with the Vegas and Macau operator’s current direction.
Wheat & chaff: Heading up the winners last week was gaming affiliate provider Gambling.com, which produced well-received numbers on Thursday. The team at Macquarie said they believed Gambling.com continues to be “grouped unfairly” with its peers.
Light & blunder: The analysts at Truist noted that post-earnings Light & Wonder might see some pressure on its share price and, lo, it came to pass, with the company’s shares down 10% for the week.
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. By the numbers – MarylandA touch down: As one of the first states to report October data, there were obviously many eyes looking at the operator data to assess quite how bad the NFL results had been for the leading operators.
🧐 The other aspect of the Maryland data that will be pored over is that pertaining to ESPN Bet. Those with an interest in how the Penn-managed brand is faring will note it saw a mere 2% GGR mobile share from 2.6% handle share and with hold at 6.9%.
+More numbers – the UKWith Flutter reporting last week, and taking in data from the UK Gambling Commission’s quarterly survey, the team at Regulus have taken a stab at estimating growth rates for the UK top 5 in Q3. Smash and grab: As the chart suggests, Flutter is taking mass market share and "executing better" than its rivals, with Regulus arguing its 14% Q3 growth rate has translated into it grabbing a further 2% market share.
Tail-end Charlie: One area of the market that continues to do well at the expense of various of the bigger names is the long tail, but the Regulus team believed the set of circumstances that allowed them to gain ground due to more “haphazard” regulatory enforcement won’t hold for much longer.
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Older messages
Little lies
Friday, November 15, 2024
Is pricing really the differential between FanDuel and DraftKings? ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Threading the needle
Friday, November 15, 2024
Pricing accuracy helps Flutter overcome sobering October ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
The regift
Tuesday, November 12, 2024
Endeavor sells OpenBet to its own CEO ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Never gonna give you up
Monday, November 11, 2024
DraftKings' investors forgiving of guidance miss ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Hold off
Friday, November 8, 2024
DraftKings cuts guidance on October's bad run of results ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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