Aug 8 2025
Gaming
Recent Research
Entain, BetMGM – expects at least $100m EBITDA
Jun 16 2025
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Flutter Entertainment plc
More proof of the growth paradigm
Flutter has delivered a very strong Q2. The combination of excellent growth in the US, the benefit of acquisitions and organic growth in the International business provides further...
DraftKings
Good Q2 and guidance infer attractive growth
DraftKings released its Q2 results with a solid underlying performance in iCasino (+23%) and strong growth (+45%) in sports, helped by operator-friendly results. Revenue was +37% ...
Flutter Entertainment plc
Attractive transaction to acquire 5% of FanDuel
Flutter Entertainment has announced that it will buy the 5% of FanDuel owned by Boyd for a cash consideration of $1.755bn ($1.55bn for the acquisition of the stake). It has acquired...
Flutter Entertainment plc
‘Snai nergies’ – assessing the potential
The US has rightly been the new shiny toy for online gambling operators. However, Italy, Europe’s biggest regulated gambling market, has been delivering strong growth. Having acquired an...
Entain
BetMGM – expects at least $100m EBITDA
BetMGM has this morning upgraded its FY25 revenue guidance by at least 6% and now expects to generate aEBITDA of at least $100m. The statement notes that the growth is coming from...
DraftKings
DraftKings - Underlying trends reassure
Draftkings (DK) Q1 results indicated a good underlying performance in sports, with softer iCasino trends. As widely anticipated, sports results impacted the quarter. FY25 revenue has...
Flutter Entertainment plc
Q1 underlying trends in line, positive tone
Flutter reported another quarter of good growth despite the headwind from US sports results in March. Group Q1 revenue and EBITDA were broadly in line with our expectations. It has...
Entain
Q1 growth improves
Entain updated on Q1 trading this morning. The Online division delivered strong growth of 10%, helped by a particularly strong performance from the UK&I division (+23% in online). On...
Entain
BetMGM – reassuring quarter
BetMGM delivered a reassuring Q1 update today with revenue growth of 34% and positive EBITDA. On outlook, it has not changed its full year guidance at revenue (range $2.4-2.5bn) or its...
Entain
FY24 results: key takeaways from the call
Entain issued FY24 results this morning. Growth rates improved as it progressed through the year with a good Q4, helped by favourable results. It noted that 2025 has started strongly...
