Flutter reported impressive results with a 27% increase in revenues for the year to £7.69bn, supported by strong US revenues. The company’s CEO, Peter Jackson, stated that he was not solely focused on profitability for FanDuel, but rather on achieving sizable profit gains in 2024 and 2025. FanDuel is the no.1 sportsbook in 15 out of 18 US states, and Regulus analysts suggest that it looks operationally unassailable, at least in the short term. However, Jackson warned that sub-scale brands in the US may find it difficult to make money, and noted that Fox Bet was struggling. Flutter’s UK and Ireland business showed a revenue increase of 4% to £2.14bn, and the company’s CFO for Australia, Jonathan Hill, commented on increased competition in the market, […]

Light & Wonder experienced double-digit revenue and profit growth in the latest reporting period. New CEO Matt Wilson described the past year as “pivotal” for the company, which offloaded its lottery and sports-betting businesses and changed its name. Despite this major restructuring, the company saw revenues rise 17.5% to €682m, while adjusted EBITDA rose 23% to €265m. Wilson said that the company’s key performance indicators (KPIs) were all in the green, and that there was no impact from the macro environment at present. He also noted that the gaming machine business had seen substantial progress, driven by robust product sales. The company’s online gross gaming revenue (GGR) rose for the ninth consecutive quarter to $62m, up 15%. Wilson said that the company would be doubling […]

Melco Resorts operates integrated resorts and casinos in Asia. The company’s CEO, Lawrence Ho, said that they are “encouraged” by the situation in Macau, despite the fact that the colony reported a 30% year-over-year decline in Q4 revenue to $337m. This decline was caused by travel restrictions that were in place during the quarter, which limited the number of visitors to Macau. Additionally, the company’s operating losses nearly doubled year-over-year to $200m. This is a significant challenge for the company, and it highlights the difficulties that the gaming industry is facing due to the COVID-19 pandemic and related travel restrictions. Regenerate response