I think we will open strongly.
dyor |
II closing report:
Back in London and Entain shot up 6.2% after it said its US betting joint venture, BetMGM LLC, should break-even this year after sales accelerated in the second half of 2024.
BetMGM, is jointly owned by Entain and MGM Resorts International.
Entain said BetMGM's iGaming offering, strengthened sports product and enhanced player engagement had delivered accelerating growth and performance metrics through 2024.
As a result, it expects to be earnings before interest, tax, depreciation and amortisation positive in 2025 with net revenue of USD2.4 billion to USD2.5 billion.
In 2024, BetMGM reported net revenue of USD2.10 billion, up 7.1% from USD1.96 billion a year prior. |
Cheer up we’ve had a good day - unlike Vodafone!
Suet |
It would not surprise me if this drops to £7 tomorrow….as much as I loathe it |
Indiana looking at Sept 1 igaming launchShould be a strong open, US shares firm Robinhood has been told to halt sports betting via an option route by the authorities & Flutter is now up 4 bucks since London closed on the back of this |
Should have finished on a high but alas 30p knocked off by the US, Probably the draftkings crew and the guardian holding us down for the inevitable bid.dyor. |
iGaming roll-out - no new US States expected in 2025. However nine States have passed enabling legislation in 2024 to support the pathway to introducing iGaming. They are paying a close watch on three - Maryland, Illinoi & New York.
Expectation is that there will at some point be many more iGaming States but timeframe is uncertain. |
Await the taxman to get excited at those numbers. Especially New York. |
January was better than record December |
Impressive Qtr on Qtr growth acceleration - moving into FY2025. It does look like BetMGM are now really on their game. Oozing confidence. |
My post 12416 shows the accelerating igaming numbers into year end at flagship Michigan state. With 8 states looking into adding iCasino this year signals a dramatic sea change in momentum & realisation of the income that can be extracted Hugely encouraging |
I hope we can end the day on a high note. |
Draftlings worth twenty billion what is our fifty percent worth then? |
I gaming “a juggernaut” |
Q4 “ a materially different business” |
Jan best month ever in both segments |
'Casholaa4 Feb '25 - 12:20 - 12461 of 12469
0 0 0
I hope we open at 1200p tomorrow.'
I just hope we can end the day blue! |
About bloody time, but not complaining - interesting to see any broker/analysts comments on this update. ;-) |
Trading halted on the upBill will be happy |
Stormed to the top of the FTSE 100 risers. Happy days.
Edit: just gone into auction, interesting to see if this is the start of profit taking or a pause for breath... |
Fy2025 Net Revenue guidance of $2.4 billion to $2.5 billion |
"reaffirms our confidence in BetMGM's pathway to $500 million EBITDA in the coming years"
Years....
That's EBITDA not profit
I'm pleased about the market reaction but have to say I'm left underwhelmed by the years comment.
I do wonder if that is a deliberate downplaying of the potential to make it easier for MGM to make a
low ball bid. |
expects fy2025 ebitda positiveno further capital from parent companies expected |
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