Mar 30: Nothing compares 2 US, says Sportradar
Mar 30: Nothing compares 2 US, says SportradarSportradar Q4, Boyd Gaming, Gaming Realms and IGT analyst notes +MoreGood afternoon. Welcome to today’s newsletter.
Sinead, of course. Click below to sign up. Sportradar Q4
Landmark: The full-year figures comfortably exceeded guidance (range €553m-€555m) helped by a doubling of yearly revenue from the US. CEO Carsten Koerl said Sportradar is seeing the benefit of its “early investment” in the “explosive” sports-betting opportunity.
Ontario: Koerl said Sportradar had received licensing. “We’re bullish,” he added. Props: Koerl noted that the focus of US sports consumers on individual players would bring some “very interesting differences and benefits” which, he noted, “play to Sportradar’s strengths”.
Russia/Ukraine warning: Koerl said the company was monitoring developments with regard to the war in Ukraine. In terms of potential disruption, he noted that should the company have to exit the Russian market, it would mean forecast EBITDA for 2022 would fall from between €123-€133m to “no less than” €110m.
** SPONSOR’S MESSAGE: Spotlight Sports Group, a world-leading technology, content and media company has released a new white paper detailing the sports betting opportunity for publishers across North America. The paper investigates the size of the market, the revenue models available and the changing behaviors of sports fans. Outlining the keys to success, the research also discusses Racing Post's successful journey from a traditional digital publisher to super affiliate. Click here to download the full white paper. Boyd Gaming analyst updateConnect the dots: The team at Deutsche Bank suggested the $170m deal for Pala Interactive doesn’t indicate a new strategic direction but gives Boyd greater scope in icasino as and when there is further legislative momentum.
No loss: They note that Boyd has no tolerance for loss-making. “Net-net, to the extent the transaction doesn't influence Boyd’s capital return strategy or hamper the focus on the efficiency of the core business, we see the transaction as largely complementary to the longer-term potential opportunity set.” Talking point: The move by a relatively minor icasino player to own its own tech poses some interesting questions for other PAM suppliers such as GAN and White Hat Gaming. Save the date…Gaming Realms analyst updateProfitable realm: The UK-listed games provider has announced it has gone live with Loto-Quebec with a range of Slingo-branded scratch cards. Analysts at Peel Hunt point out the company also has a license in Ontario.
Pinchpoint launchThe Department of Trust, a former subject of our Startup Focus feature, has launched a new fortnightly newsletter called the Pinchpoint which will discuss aspects of the debate around how the cost-of-living crisis will affect UK gambling and the debate around affordability measures. Sign up below. IGT analyst updateFun-da-men-tal: Further to meeting management, the team at Credit Suisse said they “sounded strong on the fundamentals of the business” and implied raised guidance for 2022 to $4.1-$4.3bn and operating margins of 20-22%.
Don’t let me be misunderstood: The guidance maintenance since Nov21’s IGT investor day “implies that the core business is performing ahead of original expectations”, added CS.
NewslinesDown by the river: Rush Street Interactive has appointed Bruce Caughill as managing director, Canada. The group’s BetRivers brand is set to go live in Ontario on Monday. Check raise: AGCO has issued a new mandate for Ontario’s new online gambling licensees, the Responsible Gambling Council's RG Check Accreditation Programme. The program is already required at land-based gambling venues in the province. In the loop: Fubo Gaming has canceled its rental contract for office space in downtown Chicago. The group was due to lease out workspace in the Loop area of the Windy City and go on a hiring spree as COVID restrictions drop. B2B hub: Pinnacle has obtained a license for its B2B business in the European gaming hub of Malta. The regulatory move by the group is aimed at developing its Pinnacle Solution B2B activities to “unlock partnerships in a number of new territories, with particular focus across Europe and Latin America”. What we’re readingOrder! Hansard’s transcript of the gambling-related harm debate in the House of Commons from yesterday. On garda: Irish police warn on match-fixing. Rotten to the core: Australian public enquiry hears of Star Casino malpractice.
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Boyd agrees $170m Pala deal
Tuesday, March 29, 2022
Boyd Gaming's Pala Interactive buyout, New York data, XLMedia FY, 888's African JV +More
Mar 28: UK gambling’s cost-of-living crisis
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