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Gambling News - 'Finance'
Business
October 8, 2024
PENN Entertainment Unveils Preliminary Q3 Financial Results
Today, PENN Entertainment revealed its preliminary financial results for the third quarter ending 30 September 2024, highlighting stronger-than-expected results for its interactive unit, Penn Interactive, which includes the ESPN Bet platform. The company noted the digital segment was performing better than projected, expressing a stable outlook for its retail operations going into 2025. Overall Financials […]
Business
October 8, 2024
Rhode Island Market Is Shrinking Under Neighboring States’ Pressure
According to a report from the Rhode Island Office of the Auditor General, the Rhode Island Lottery transferred $426.4 million to the state’s General Fund for the fiscal year ending June 30, 2024. This represents a drop of 1.8% or $8.2 million, compared to the previous fiscal year. The report attributed Rhode Island’s decline to […]
Business
October 8, 2024
Regulus Partners Deems Flutter’s US TAM Forecast Overly Optimistic
Global strategic advisory business focussed on the sports and leisure sectors, Regulus Partners (RP), has expressed doubts regarding Flutter Entertainment’s forecast for the total addressable market (TAM) in the US sports betting and iGaming sectors, raising concerns over the company’s optimism. Overly Optimistic Projections Could Hit Challenges Last month, the operator with a market-leading position […]
Business
October 7, 2024
Two Investors Condemn Playtech’s €134M Executive Bonus Proposal
Ahead of the finalization of the sale of Snaitech, Playtech’s business-to-consumer (B2C) arm, to Flutter Entertainment in a multi-billion-dollar deal, investors in Playtech criticized a proposed compensation package of more than $100 million. Palm Harbour Capital Criticized the Remuneration Proposal The aforementioned compensation package was confirmed back in September. The proposal seeks to benefit Playtech’s […]
Business
October 4, 2024
BetMGM Enjoys Strong Progress in Online Gambling
A majority of the US states currently offer sports betting but when it comes to online casino, the number of states where the activity is available is quite low. A total of seven states currently offer legal iGaming but that number may grow in the future in case lawmakers consider benefitting from new revenue-generating activities. […]
Business
October 3, 2024
Despite Headwinds for MGM, Analyst Sees Long-Term Growth Potential
MGM Resorts’ shares marked a more than 10% decrease year-to-date as of the market close on Wednesday. Despite the decrease and other short-term challenges an expert is optimistic about the company’s long-term growth prospects. MGM Faces Short-Term Challenges Carlo Santarelli, an analyst with Deutsche Bank, who was recently quoted by Casino.org, spoke about the company’s […]
Business
October 2, 2024
JMP Highlights Importance of In-Play Betting as Revenue Growth Driver
Considering that nearly 40 US states offer legal sports betting, millions of Americans can place bets on their favorite sport and team. The 2018 repeal of PASPA started the exponential growth of the betting vertical and its popularity hasn’t halted since. The expansion of mobile betting helped grow the number of betting markets with more […]
Industry
October 1, 2024
AGA: Industry Leaders Expect the Sector’s Growth to Slow Down
The American Gaming Association (AGA) published its latest Gaming Industry Outlook, highlighting that industry leaders are cautiously optimistic about the business situation. While respondents generally believed that the current state of affairs is at least satisfactory, many are still wary of the growth slowdown. Operators Are Satisfied with the Conditions But Cautious about the Future […]
Business
October 1, 2024
Acroud Delays Bond Interest Payment via Standstill with Holders
The fast-moving challenger in the space of iGaming affiliation and B2B SaaS solutions, Acroud, confirmed it postponed interest payment on outstanding bond loans until further notice. Restructuring Effort Impacts Bonds Interest Payment Confirmed this week, the announcement affects SEK 225 million senior secured bonds with an interest payment due on October 7, 2024. The main […]
Business
September 30, 2024
Playtech Posts Growth in H1 2024, Analysts Warn of Potential Risks
Playtech, the leading technology company founded more than two decades ago, released its results covering the six months ended June 30, 2024. On Monday, the company disclosed its interim financial results, pointing to a single-digit revenue increase while acknowledging it remains on track to meet medium-term targets in FY24. The Company’s H1 2024 Revenue Increased […]