DraftKings has just unveiled new numbers for Q4 showing a year on year revenue increase of 73% to $2.24 billion with adjusted EBITDA loss coming to $49.9 million. Despite posting a loss, DraftKings was able to outperform Wall Street expectations that predicted losses of more than double of what was posted. The new update brings DraftKings loss expectation to around $350-$450 million for 2023, a great improvement from its initial projected loss of $475-$575 million. The company is now predicting to post a positive EBITDA in 2024. A quote from DraftKings CEO regarding the reports states, “In the fourth quarter, we grew revenue by 81% versus last year and delivered positive Adjusted EBITDA in October and for the quarter when adjusting for our launch costs […]

Flutter Entertainment has just made a promising announcement, informing its investors of the consideration for a U.S. listing as a publicly traded company, following the footsteps of London and Dublin. After a positive year for the companies rapid growing FanDuel brand, the popular sports betting operator looks to become a key revenue driver for Flutter. Flutters’ Board explained that a U.S. listing would benefit in these ways: Expand their profile in the U.S. Recruitment and staying power for U.S. talent Access to U.S. investors and greater capital markets Increase the overall liquidity of Flutter shares The ability to acquire a U.S. listing Quoted on CNBC – Jeffrey Kamys, Chief Investment Strategist for the iBet ETF spoke about decline hurting a lot of gaming companies but […]

The expectations were right as new numbers show Super Bowl 57 was the most wagered on Super Bowl in history. Numbers from GeoComply show 100 millions sports betting transactions were placed of Super Bowl weekend, a 25% increase on last year. Arizona saw great numbers as the host of the big game, totaling over 100,000 transactions around State Farm Stadium and the Glendale area. FanDuel was estimated to handle over 17 million bets with  its peak repacking 50,000 bets placed a second with 2 million users on its app through the course of the game. Betting was just as packed in Las Vegas with MGM Resorts breaking a company record for Super Bowl handle across its nine retail sportsbooks and the BetMGM app. DraftKings posted […]