View NFL Weekly Projections
May 9, 2023
May 9, 2023

FanDuel Posts Positive Q1 Numbers

FanDuel reported strong results in the first quarter of 2021, with average monthly players growing by 46% to 3.4 million, and revenue jumping 112% to $1.1 billion. FanDuel’s retention rates were praised by Flutter CEO Peter Jackson as contributing to monthly player growth, which in turn helped to increase market share in both sports betting and online gaming. FanDuel reported a 7% net revenue margin in the quarter and remains confident of reaching the 12% margin it has guided toward for 2025. FanDuel plans to continue adding customers as long as the cost to acquire them and the lifetime value dynamics remain strong. FanDuel also hopes to acquire more customers through its horse racing app, which is available in 33 states.
May 8, 2023
May 8, 2023

Morgan Stanley Raises Macau GGR Expectations

Morgan Stanley has revised its Macau-wide gross gaming revenue (GGR) estimates for 2023, with gaming revenues now projected to reach almost US$20 billion and rise to over US$25 billion next year. Analysts Praveen Choudhary, Gareth Leung, and Stephen Grambling expect mass gaming revenues to reach 90% of 2019 levels this year and 115% in 2024. The gross gaming revenue (GGR) is predicted to reach US$19.9 billion or 88% of pre-COVID mass levels this year, increasing to US$25.7 billion or 114% next year. Sands China and MGM China have also reported a strong recovery trajectory, leading to an increase in EBITDA estimates for both concessionaires.
May 5, 2023
May 5, 2023

Penn National and Barstool Risks

Penn National Gaming is facing risks associated with its connection to the Barstool brand, as recent controversies have overshadowed the company’s online progress. Analysts suggest that Penn will have to endure further social media storms to benefit from the audience Barstool brings. The dismissal of Ben Mintz for airing racist slurs has raised questions about Barstool’s future post-Penn’s acquisition, and the potential impact on revenues and consumer perception. Deutsche Bank highlighted that Penn’s property level EBITDA forecasts are moving higher, but the margin decline in the brick-and-mortar business is a concerning aspect of the quarter. The bank also noted that Penn is “somewhat catalyst starved” as regional casino growth is difficult to envision, returns from projects are years away, new online launches won’t significantly impact […]
View NFL Weekly Projections
May 9, 2023
May 9, 2023

FanDuel Posts Positive Q1 Numbers

FanDuel reported strong results in the first quarter of 2021, with average monthly players growing by 46% to 3.4 million, and revenue jumping 112% to $1.1 billion. FanDuel’s retention rates were praised by Flutter CEO Peter Jackson as contributing to monthly player growth, which in turn helped to increase market share in both sports betting and online gaming. FanDuel reported a 7% net revenue margin in the quarter and remains confident of reaching the 12% margin it has guided toward for 2025. FanDuel plans to continue adding customers as long as the cost to acquire them and the lifetime value dynamics remain strong. FanDuel also hopes to acquire more customers through its horse racing app, which is available in 33 states.
Do you like it?
Read more
May 8, 2023
May 8, 2023

Morgan Stanley Raises Macau GGR Expectations

Morgan Stanley has revised its Macau-wide gross gaming revenue (GGR) estimates for 2023, with gaming revenues now projected to reach almost US$20 billion and rise to over US$25 billion next year. Analysts Praveen Choudhary, Gareth Leung, and Stephen Grambling expect mass gaming revenues to reach 90% of 2019 levels this year and 115% in 2024. The gross gaming revenue (GGR) is predicted to reach US$19.9 billion or 88% of pre-COVID mass levels this year, increasing to US$25.7 billion or 114% next year. Sands China and MGM China have also reported a strong recovery trajectory, leading to an increase in EBITDA estimates for both concessionaires.
Do you like it?
Read more
May 5, 2023
May 5, 2023

Penn National and Barstool Risks

Penn National Gaming is facing risks associated with its connection to the Barstool brand, as recent controversies have overshadowed the company’s online progress. Analysts suggest that Penn will have to endure further social media storms to benefit from the audience Barstool brings. The dismissal of Ben Mintz for airing racist slurs has raised questions about Barstool’s future post-Penn’s acquisition, and the potential impact on revenues and consumer perception. Deutsche Bank highlighted that Penn’s property level EBITDA forecasts are moving higher, but the margin decline in the brick-and-mortar business is a concerning aspect of the quarter. The bank also noted that Penn is “somewhat catalyst starved” as regional casino growth is difficult to envision, returns from projects are years away, new online launches won’t significantly impact […]
Do you like it?
Read more