Nov 13 2025
Gaming
Recent Research
Entain, Solid H1 with small upgrade to FY25
Aug 12 2025
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Flutter Entertainment plc
Some recent headwinds, but future growth prospects boosted by prediction markets
Q3 numbers came in largely in line with our recently revised estimates, with growth impacted by some unfavourable sports results and heightened promotional intensity in the US in the...
DraftKings
Disappointing guidance but evidence of underlying momentum
As expected, Q3 online sports betting (OSB) revenues and EBITDA were impacted by unfavourable sports results. This continued into October with September and October sporting results...
Entain
Guidance retained despite Q3 sports results headwinds
Entain released a largely in-line Q3 trading update this morning. Online Net Gaming Revenue (NGR) guidance has been retained as has the EBITDA guidance range despite the impact of some...
Entain
BetMGM – good performance and confirmation of cash return important
BetMGM released a Q3 update this morning. Revenue in iCasino was +21% year-on-year (yoy) and growth in online Sports was strong, +36%. The group updated its guidance with revenue...
Entain
‘ENT ering’ a more stable phase?; moving to ‘Outperform’
Market share data and recent upwards revisions to forecasts for Entain and BetMGM indicate that the group has stabilised in a number of its key markets after a long period of...
Entain
Solid H1 with small upgrade to FY25
Performance in H1 overall was robust with solid growth in Q2 despite the difficult comparator. It has guided to an increase in its expectations for underlying revenue growth in the...
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...
