Gaming

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Flutter Entertainment plc

CFO change – strong replacement

Flutter Entertainment has announced that Paul Edgecliffe-Johnson will step down as CFO and be replaced by Rob Coldrake, current CFO of the International business. Edgecliffe-Johnson’s...

Entain

Verdict of Capital Allocation Committee

Entain updated this morning on the outcome of a strategic review by the Board’s Capital Allocation Committee (CapCo). The key outcomes were (1) it believes it has the appropriate...

Flutter Entertainment plc

Q1 trends reassure

Flutter Entertainment reported Q1 results this morning. Underlying momentum remains strong in the US, the UK & Ireland and International, with Australia remaining challenging. Group...

Flutter Entertainment

FY23 – GAAP and guide key

Flutter Entertainment will report its FY23 preliminary results on Tuesday March 26th at 07.00 GMT with a conference call at 10.30. This will be its first update under US GAAP. Given that...

DraftKings

FY24 guidance raised by c.3%; acquires lottery app

DraftKings reported Q423 earnings after the US close last night. Revenue came in at $3.665bn for FY23, up 64% year-on-year (yoy) and a little behind the guidance midpoint ($3.695bn),...

Entain

BetMGM update confirms revenue at upper end of range

BetMGM issued a brief update for FY23 this afternoon. Revenue of $1.96bn is at the upper end of the guidance range and broadly in line with our expectations. The aEBITDA loss is...

Flutter Entertainment

Sets out timeline for move to primary NYSE listing

Flutter has released an RNS confirming that it is commencing trading on the New York Stock Exchange (NYSE) today (ticker FLUT), and confirming the cancellation of its Euronext Dublin...

Entain

Pros and cons

In this report, we update on Entain (ENT) to reflect a very busy period of newsflow. The investment case comprises pros and cons. Fundamentally, performance was poor in FY23 with the...

Entain

BetMGM – more investment means profitability moves out

BetMGM presented a business update yesterday (December 4th). The financial takeaways were that 2024 will be a loss-making investment year and that it expects $500m of profitability in...

Flutter Entertainment

Scale, diversification and growth

With leading positions in many of the major regulated gambling markets, beach-head positions in longer-term growth markets such as India, Brazil and Africa and a balance sheet that can...