Gaming

Gaming

888 acquires William Hill’s international business

Another week, another transaction in the global gaming sector. 888’s (not covered) acquisition of William Hill’s international business has several implications for the broader sector....

Flutter Entertainment

H1 progress means group profits/cash to inflect sharply

Confirmation that Flutter expects its US business to turn profitable in 2023 highlights that a step-change in the group’s profit and cashflow generation potential is now approaching....

Entain

No surprises in already known H1 performance

Given Entain's detailed post-close trading update (July 8th), there is little surprise in its interim results. The group remains confident in its prospects for the second half of the year...

Flutter Entertainment

Exceptional progress highlights unique opportunity

Flutter Entertainment’s H1 results are c.7% ahead of expectations, and we are now likely to increase our FY21 ex-US EBITDA forecasts by c.9%. Its performance in the first half was...

DraftKings

Acquiring GNOG; updating forecasts following Q2 results

On first glance, DraftKings’ (DKNG) acquisition of Golden Nugget Online Gaming (GNOG) looks strategically interesting. The combination is designed to improve its positioning in the...

Flutter Entertainment

Q2 a reminder of US positioning and investment opportunity

As each quarter passes, Flutter Entertainment’s true prospects in the US become more apparent. Its position in the all-important sports betting market has improved again in Q2 from...

Entain

Strong Q2 drives FY21 upgrade

Entain’s Q2 trading is materially stronger than expected, with Online growth remaining at elevated levels (+22% versus Davy +4%). It means that FY21 EBITDA is now expected to be...

Gaming

Tabcorp to retain Wagering and Media operations

Tabcorp’s decision to demerge its Lotteries and Keno business, thereby retaining its much sought after Wagering and Media operations, has several implications for our coverage...

Gaming

Canada’s PASPA moment

The removal of a federal ban on single-game wagering in Canada paves the way for the addressable North American gambling market (TAM) to expand beyond the northern US border,...

Flutter Entertainment

Matt King to leave FanDuel

Matt King’s decision to leave FanDuel Group is clearly a disappointment. Flutter Entertainment’s US business has secured a strong leadership position in the exciting US market, with King...