The Latest in q1
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Business

DraftKings Reported Q1 2020 Growth, Despite the Lack of Sports

DraftKings issued today its first quarter financial results after the tie-up with SBTech, posting $113.4 million in revenue and a net loss of $74 million. Despite worse than expected, these results did not affect buying appetite of investors, with DraftKings shares up more than 10% at one stage during the trading day. First Quarter Revenue […]
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Casino

Twin River Q1: Results Meaningfully Impacted by Casino Closures

Twin River Worldwide Holdings, Inc. issued today its first quarter financial results for 2020, with revenue significantly impacted by the shutdown of operations in mid-March, despite the excellent start of the year. Revenue Pre- and During Closure Revenue for the first two months was up 23.4%, to $90.3 million, as opposed to $73.2 million for […]
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Casino

Penn National Q1 Revenue Impacted by Closures, iGaming Gathering Pace

Penn National Gaming issued its first quarter financial results, painting a clear picture of how the health crisis that started in mid-March, due to the wide implementation of the social distancing measures across the states, had taken the wind out of its sails revenue-wise. The Pennsylvania-based gaming operator with strong presence across all gambling verticals […]
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Casino

Wynn Resorts Revenues Materially Impacted by Casino Closures

Wynn Resorts issued today its first quarter financial results, posting 42.3% drop in operating revenues, due to the closure of its properties, in February in Macau, and from mid-March in the USA. Revenue Impact Material First quarter revenue for the company fell to $953.7 million, from $1.65 billion for Q1 2019, nearly $700 million less, […]
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Business

Kindred Group Posted 11% Revenue Growth for First Quarter 2020

Malta-based Kindred Group issued its January-March 2020 interim report, posting first quarter winnings of £249.7 million, an 11% increase in revenue compared to the same period in 2019. Underlying earnings before interest, tax, depreciation, and amortisation /EBITDA/ amounted to £42.5 million, despite £20.7 million of comparability cost adverse effect. Sports Betting the Main Driver Despite […]
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Business

MGM Issues New Public Debt of $750M to Boost Liquidity

MGM Resorts has announced the company managed to raise $750 million in new debt, to further strengthen its balance sheet amid the uncertainty related to the current health crisis that led to casinos closure across the states. Notes Offering Amount Upsized Thursday morning the casino operator was hoping to reach at least $500 million, and […]
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Business

TSG First Quarter Revenue Expected to Surge 27% Year-On-Year

The Stars Group issued a general business update to investors today, providing its expectations for the financial results during the first quarter of 2020. Canadian-headquartered online gaming company The Stars Group /TSG/ is now expecting a spike in revenue for the past three months, mainly due to the surge in activities in two of its […]