Share Name Share Symbol Market Type Share ISIN Share Description
Entain Plc LSE:ENT London Ordinary Share IM00B5VQMV65 ORD EUR0.01
  Price Change % Change Share Price Shares Traded Last Trade
  3.00 0.17% 1,819.50 564,690 16:35:03
Bid Price Offer Price High Price Low Price Open Price
1,817.50 1,818.50 1,839.00 1,806.50 1,823.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 3,628.50 174.70 15.80 115.2 10,655
Last Trade Time Trade Type Trade Size Trade Price Currency
17:22:04 O 8,550 1,818.153 GBX

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Date Time Title Posts
19/8/200617:10Enition (ENT)613
06/3/200613:54Enition - Featuring in an interesting reverse takeover deal - opportunities in t40
16/1/200611:00Enition PLC18
02/7/200413:17Interview: ENT's CEO Ray Dutton - Friday 2nd July, 11pm2

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Entain Daily Update: Entain Plc is listed in the Travel & Leisure sector of the London Stock Exchange with ticker ENT. The last closing price for Entain was 1,816.50p.
Entain Plc has a 4 week average price of 1,727.50p and a 12 week average price of 1,516p.
The 1 year high share price is 1,900p while the 1 year low share price is currently 653.40p.
There are currently 585,591,361 shares in issue and the average daily traded volume is 1,372,537 shares. The market capitalisation of Entain Plc is £10,654,834,813.40.
1sbb: "PROACTIVE" "Ladbrokes owner says England well backed as Euros shaping up as biggest sports betting event" "New products around its Betbuilder concept, such as 'five-a-side', 'your call' and 'get a price' have accounted for a quarter of all UK bets in the tournament" "The Euros are shaping up to be Ladbrokes and Coral owner Entain PLC’s (LON:ENT) biggest ever sports betting event, the company said alongside a half-year financial statement the day after England's 2-1 semi-final victory over Denmark. With England getting into their first major final since the 1966 World Cup and a host of exciting games throughout the tournament, the FTSE 100 group reported "strong customer interest" across the 15 participating countries in which it operates, helping it to hike profit guidance for the current year. Entain estimated that bets on Sunday’s final between England and Italy will total £17.5mln, of which around £15mln is expected to be placed between now and Sunday. As of this morning, around £1mln so far is riding on an England win, with £1.45mln on Italy. In total, Entain expects its bets from around 3mln customers around the world to total roughly £250mln for the Euro 2020 tournament as a whole - bigger than for the 2018 Fifa World Cup. This reflected its growth into new markets, including the US, together with more exclusive products and greater engagement with customers, the company said, with new products around its 'Betbuilder' concept, such as 'five a side', 'your call' and 'get a price', accounting for a quarter of all UK bets. France had been the most fancied by UK punters in the UK but since they were knocked out on penalites in the quarter finals, England have become the most backed team by English customers, a spokeswoman said, with Italy the third-best backed team in England before the semi-finals. “England’;s semi-final victory will be a double cause for celebration in the Entain offices,” said analyst Sophie Lund-Yates at Hargreaves Lansdown. “An appearance in the final is an open goal for the group, and will be a boon for sports wagers. England’s long run in the tournament may well have been a contributing factor to the news that underlying cash profits are expected to beat consensus at the full year.” Looking back at the group's financials from the first-half she said while shop closures effectively parked the bus in front of the first quarter, the post-lockdown reopening led to a rebound in the second quarter. Add in the stellar – and much higher margin – online business, she said the overall half year picture “looks quite bright indeed”, though the group faces a couple of potential 'monsters under the bed'. “The first is the threat of growing regulatory pressure in some of its markets. In the past Entain has done a reasonable job of staying on the front foot where regulation is concerned, and it’s vital it keeps doing so. The current share price valuation is very frothy, and it could go flat fast if there are any unwanted surprises.” The shares were up 2% to 1,843.5p by mid-morning on Thursday, up almost 30% since the start of the year. Analyst Greg Johnson at Shore Capital said although the group does face some regulatory hurdles, most notably in the UK, “momentum remains strong and opportunities for further value accretion across both its core operations and BetMGM [the US joint venture] over the medium-to-long term”. At fellow broker Peel Hunt, analyst Ivor Jones said the half-year trading update statement showed that it was Entain’s geographic and product diversity that enabled its continued solid growth, with a 22nd consecutive quarter of double-digit online growth. “With the US strategy continuing to deliver ahead of expectations, MGM free to bid again [from 19 July] and Tabcorp having decided not to accept Entain’s offer (for now) we believe that Entain’s shares will continue to outperform,” Jones said." DYOR
1sbb: "SBS NEWS" "City examines vital interims as gambling faces sweeping judgement calls. By Ted Menmuir. 57 mins ago" "From London to Wall Street, the interim results of global gambling’s listed incumbents will be probed as the industry faces systemic changes inbound during the second-half year trading. Though the finely balanced outcome of the UEFA Euro 2020 Championships will impact incumbents bottom lines – city analysts will be focused on evaluating which companies are best equipped to thrive in global gambling’s ever-changing business environment. The first FTSE giant to disclose its results on Thursday 8 July, Entain Plc, will carry significant attention as to whether the industry’s pacemaker will continue to pursue its aggressive M&A expansion strategy amid its continued courtship by US partner MGM Resorts. Buoyed by the firm’s sky-rocketed share price, Entain investors remain confident that MGM will return to the negotiating table, improving the £8 billion takeover bid rejected last January. Irrespective of MGM’s pursuit, Entain continues to bulk-up, completing the acquisitions of leading Baltics operator EnLabs (£315m) and Portuguese sportsbook Bet.pt. At the centre of all gambling M&A narratives, Entain has been pitched as the lead suitor of Tabcorp Holdings’ expected sale of its TAB sports betting unit, competing against PE fund Apollo Global and BetMakers all-Australian wagering bid. Of significance for analysts, Entain’s results will be presented against the backdrop of Scientific Games announcing last week that it would divest its lottery and sports betting units – deleveraging to become ‘a content focused igaming supplier’. Ripple effects are expected as Scientific Games places its OpenBet unit for sale or public listing, divesting the industry’s leading operating platform provider and changing the industry technology dynamics. Scientific Games’ deleveraging holds significance for the US market, where its deep-pocketed players appear to prefer lean M&A over acquiring bulked-on muscle mass to maintain course on a nascent marathon marketplace. Case-in-point, Caesars Entertainment‘s £2.9 billion acquisition of William Hill (completed this April) which saw the US firm immediately strip the heritage bookmaker’s UK and Euro assets – with offcuts eyed by a raft of European suitors including 888, Betfred, Boylesports, Apollo and Entain. Elsewhere, the tribulations of maintaining US growth will hold a particular prominence on the interim result of Flutter Entertainment, announced on Tuesday 10 August. Coming into 2021, Flutter may have expected another year of cruise control for its FanDuel US brand, which during 2020 achieved the headline feat of outmatching its long-established Australian unit growth. Nevertheless, Flutter now faces imminent challenges in how it will maintain FanDuel’s aggressive US growth strategy, emerging from a legal dispute with US strategic partner FOX Entertainment. Flutter has maintained that it will pursue a separate US IPO for FanDuel as its preferred outcome, helping the FTSE100 company cash-in on a potential + £8 billion valuation of its fast growth unit. However, FanDuel’s intended IPO could be derailed by FOX, as the Murdoch Family-owned company pursues its rights to acquire an 18.6% stake at a significantly discounted purchase price. Headaches will not be solely reserved to US proceedings, as the gambling industry faces its familiar woe of regulatory infringement burdening European growth. The sector’s listed operators face a tough acclimatisation to Germany launching its new Fourth State Treaty (Gl√ľNeuRStv) regime which offers no comfort for licensed participants. Analysts will be evaluating whether incumbents pursue establishing their brands in Germany’s high taxed and highly restrictive market – a growth conundrum disclosed by LeoVegas, Betsson AB, Entain and Kindred Plc. Despite its US and European upheavals, the long-awaited outcome of the UK government’s generational review of the 2005 Gambling Act will sit at the top of the sector’s Q2 agenda. Leadership nerves are set to be tested as the government undertakes a ‘generational rewiring’ of the UK’s gambling laws, in which judgements will impact incumbents’ valuations, strategic planning and M&A appetite." DYOR
italianofacile: Interesting commentary on Flutter.. Entain have never been in a better position to extract the best price possible from MGM, as relatively they look the best bet in US.. "Flutter must partially float FanDuel for the value of the opportunity to be properly reflected in its own share price. But potential investors will need assurances that Flutter and the Murdochs can work as proper partners after the option value issue is resolved. In the meantime, there’s the small matters of finding a new chief executive for FanDuel, after Matt King handed in his notice last month after four years. Flutter will also need to work out whether the 30 per cent share price slide by Draftkings since March are company specific – or a sign that some of the froth is coming off the sector."
speedsgh: Entain Could Again Raise Offer for Tabcorp Media, Sports Betting Units - HTTPS://www.casino.org/news/entain-could-boost-offer-for-tabcorp-media-sports-betting-businesses/ Rumors are swirling that Entain Plc (OTC:GMVHY) could again increase its bid for Tabcorp’s media and sports wagering businesses as competition for those assets intensifies. The UK-based bookmaker is competing with private equity shop Apollo Global Management (NYSE:APO) and BetMakers for the Tabcorp units. There’s speculation that News Corp Australia could get into the mix as well. Tabcorp’s board met earlier this week to discuss plans for the media and sports betting businesses and the offers it received. But no official announcement emerged from that conference. That’s not stopping the rumor mill from spinning about Entain possibly upping its offer a second time. Speculation is mounting that Entain could come back with a higher offer for Tabcorp’s wagering and media unit as its share price soars on the London Stock Exchange,” reports The Australian. Entain stock is on a torrid pace this year. It’s one of the best-performing consumer discretionary names in the UK, while its US-listed equity is up almost 59 percent year-to-date and 8.57 percent over the past month. In March, Entain offered $2.28 billion for the Tabcorp businesses prior to boosting that bid to $2.7 billion a month later. Barely more than a week later, Apollo jumped into the fray, offering $3.1 billion to three Tabcorp units: gaming services, media, and sports wagering. However, the gaming services business wasn’t part of the initial strategic review undertaken by the Australian company. If it’s removed from the equation, the private equity company’s offer — at least for now — matches Entain’s. More recently, Australian betting technology company BetMakers joined the party, offering $3.1 billion in cash and equity for Tabcorp’s media and sports betting arms. Despite all the hoopla, analysts almost universally view Entain’s current offer as superior, because it’s an established operator in Australia — something Apollo is not — and it’s all cash, whereas the BetMakers bid would make Tabcorp shareholders investors in a new enterprise. It’s rumored Tabcorp investors simply want to be rid of the lagging businesses, potentially rendering the Betmakers proposal unattractive. Next Moves for Entain Entain recently publicly urged Tabcorp to accept its offer, noting that it’s committed to the businesses, whereas Apollo may simply be looking to flip them for a profit at a later date. Should Entain opt to boost its offer, it’s not immediately clear what form that increase would take. It could leverage its high-flying stock and include some in a new, higher bid, though that may not be to the liking of Tabcorp investors. The suitor could also sell debt or equity to raise more cash and add some of the proceeds to a revised pitch for the Tabcorp assets. For now, those are just ideas. But what is clear is that if Entain is ultimately successful in procuring Tabcorp’s media and sports wagering assets, an Australian sports betting juggernaut — one with almost half the country’s sports wagering market share — will be created.
1sbb: PS As ENT share price keeps going up the bid premium for a £23 bid keeps falling!! DYOR
1sbb: If the new bid is £23, then that would be a 25% premium to yesterday’s closing share price Incidentally when MGM last bid back in January 21, the ENT share price rose by 25%. We rejected it then, so if it is £23 then I think we'll reject it again!! DYOR
offthepiste: Investors Chronicle This is the second quarter in a row that Entain (ENT) has been among the top three blue-chip momentum picks. The international, online-focused gambling company owns the Ladbrokes betting chain in the UK and was formerly named GVC. Entain’s shares have actually defied the odds to clock up strong gains over the past three months. A significant cause of investor excitement centres on the company’s exposure to the rapidly deregulating US market through its 50 per cent owned BetMGM joint venture (JV). But over the past three months, as a group, listed US online gambling companies have lost about a fifth of their value. This reflects the market’s reaction to a number of events that suggest deregulation may be slower than anticipated, profitability may be lower than hoped and the ultimate size of the market may be smaller than many expect. For its part, Entain’s JV has been expecting to capture about 20-25 per cent of a market worth around $30bn. It’s guidance has been for Ebitda margins in the region of 30-35 per cent after a 2-to-3-year payback period on customer acquisition costs. But while the group’s forecasts may need to be revisited at some point, there has also been good news coming from across the pond for Entain over the past three months. Indeed, after a slow start, BetMGM seems to now be making impressive progress. It is winning share in established markets and taking a leading position in newly opened markets such as Michigan. This has made its market share expectations look very credible. It’s not only the US where the group is making good progress. It is trading strongly in most of its other territories including its largest, the UK, which accounts for 35 per cent of the group. Investors are also warming to the group’s move towards operating only in regulated markets, which provide more certainty. Regulation is a double-edged sword, though. As well as the recent perceived disappointment in the US, new German regulation is impacting trading there and the group could be affected by an ongoing review of the UK’s gambling regulations. Despite the strong share price performance this year, there are reasons to think the shares may still offer some value. Based on assumptions of a forecast total addressable US market of $20bn, broker Numis reckons Entain’s current share price sits about a fifth below a fair sum-of-the-parts valuation. It also calculates that based on BetMGM winning a 20 per cent share of the US market, the venture is currently being valued at just over 8.5 times its 2027 cash profits. That looks low compared with rival FanDuel – 95 per cent owned by Flutter (FLTR) – that Numis estimates is valued at 14.7 times.
wilco69: (Bloomberg) --Entain Plc, the owner of Ladbrokes betting shops, is considering making a bid for some William Hill assets, targeting a competitor just months after rebuffing an unsolicited $11 billion takeover approach from MGM Resorts International. Chief Executive Officer Jette Nygaard-Andersen, who took over in January, plans to look at the non-U.S. assets of William Hill Plc that Caesars Entertainment Inc. is putting up for sale, including the well-known U.K. properties. “We’re looking at everything, so we’re certainly also looking at whether this could be an interesting opportunity,” she said in a recent interview. A deal would bring about tremendous consolidation in British betting shops, where Entain already has a 40% share. Bloomberg reported last year that the company, under a previous CEO, had also been interested in buying the non-U.S. assets of William Hill. The global online gambling market is expected to grow by double digits annually to as much as $158 billion by 2028. That’s sparked a global race by casino operators, sports team owners, media companies and private equity firms looking to establish a strong position in the fast-growing business. Entain itself almost became prey. In January, the parent of U.K. bookmakers Ladbrokes and Coral rejected MGM’s offer as too low and appointed Nygaard-Andersen, an existing board member, as its CEO. “I don’t know if you should say exciting, but it was a busy Christmas and part of January,” said Nygaard-Andersen, 52. In April, Entain took control of Enlabs AB, a Swedish online betting company with a big presence in the Baltics. It’s also making a run for some of the assets of Australia’s Tabcorp Holdings Ltd., a potential $2.7 billion deal. The total volume of casino deals completed or pending has risen 33% to $22 billion so far this year, according to Bloomberg data. Notable transactions include the merger between Bally’s Corp. and Gamesys Group Plc, as well as Apollo Global Management Inc.’s purchase of the Venetian in Las Vegas. Nygaard-Andersen, whose recent experience includes running esports teams and tournaments, sees a convergence between online betting and other forms of digital entertainment, such as video games. She talks about potentially adding a real casino to games like Take-Two Interactive Software Inc.’s Grand Theft Auto, or expanding chances to bet on Fortnite tournaments. But that’s still down the road. Right now, Nygaard-Andersen and her deputy CEO and chief financial officer, Rob Wood, are looking at deals across the globe. April Deal William Hill agreed in April to be acquired for $4 billion by Las Vegas-based Caesars, its partner in sports betting in the U.S. Caesars has said it plans to sell the non-U.S. assets within 12 months to pay down $2 billion in debt. Those businesses made up more than 80% of William Hill’s sales last year, according to a public filing. The auction is expected to start in about two weeks, and Caesars’ preferred approach is to sell all of the assets together, said a person familiar with the matter. Chad Beynon, an analyst with Macquarie Securities, estimates their value at about $2.5 billion. One hurdle for Entain could be regulatory, Nygaard-Andersen said. A tie-up With William Hill would give the company a large market share in the U.K. Caesars didn’t respond to a request for comment. Apollo, which lost out to Caesars on the William Hill acquisition, is also interested in bidding for the non-U.S. assets, and may be the leading candidate, according to people familiar with the matter. Apollo is also bidding against Entain for the Tabcorp assets. Apollo declined to comment. Other private equity firms may be interested, including CVC Capital Partners, which declined to comment. Blackstone Group Inc. considered it, but decided against pursuing the properties, according a person familiar with that company’s thinking. Similar Strategy Flutter Entertainment Plc, owner of the Paddy Power betting shops in Ireland and the FanDuel brand in the U.S., outlined a position somewhat similar to Entain’s on its most recent earnings call. “I don’t think we’d be an acquirer of a very large number of shops, but we’re always interested in expanding our retail footprint,” Chief Executive Officer Peter Jackson said. “If there were customer databases or other things that we could acquire in European markets, we’d look at it.” Another potential suitor for William Hill’s shops is Fred Done, the owner of Betfred, a rival bookmaker that owned about 6% of William Hill before the Caesars deal. A representative said he is still considering his position. Nygaard-Andersen, the first woman to run a U.K.-listed betting company, was unperturbed by the competition or the challenges of a William Hill deal. And the company still has its online betting venture in the U.S. with MGM. The two companies have invested about $500 million in a business that may now be worth more than $10 billion. “There is a vast amount of opportunities for us,” Nygaard-Andersen said. “So let’s see.”
1sbb: "Sports Handle" "BetMGM Targets Net Revenue Of $1 Billion In 2022, Long-Term Market Share North Of 20% The company believes it can increase market share by the end of next year, while expanding into eight new states. By Matt Rybaltowski" "As Caesars Entertainment neared completion of its $4 billion acquisition of William Hill plc Wednesday, its longtime rival MGM Resorts had some consequential news of its own to share on the sports betting front. During a highly anticipated webinar Wednesday morning attended by top global stock analysts, BetMGM projected net revenue of $1 billion for Fiscal Year 2022, while increasing its guidance for long-term U.S. market share. BetMGM, a joint venture between MGM Resorts and Entain plc, now targets U.S. market share for online sports betting and iGaming of 20-25%, up from previous estimates around 15-20%. BetMGM executives cited significant progress in newly legalized states, continued customer loyalty, and Entain’s proprietary technology platform for the optimistic long-term view. “The unique partnership of MGM Resorts’ leading brand and loyal customer base and Entain’s proprietary technology platform gives us the best resources to win in this market,” CEO Adam Greenblatt said at BetMGM’s annual Investor Day presentation. The market share debate Though DraftKings and FanDuel are widely viewed as the presumptive leaders in U.S. online sports betting market share, there are signals that BetMGM is catching up. In February, BetMGM maintained a total market share of 22% in all U.S. jurisdictions where the company is currently active. While BetMGM has sports betting offerings in 12 states, the company expects to be live in eight additional jurisdictions over the next year. The figures are based on the company’s total market share by gross gaming revenue (GGR) for retail, online sports betting (OSB) and iGaming, BetMGM said in the presentation. BetMGM also provided color on a metric known as “contribution breakeven,” which the company determines through factors such as state tax rates, market access revenue shares, and market-specific player values. In business parlance, contribution margin is determined when a company subtracts variable costs from the total price of a product. In Michigan, BetMGM projects it will be contribution breakeven by the first quarter of 2022. BetMGM made its Michigan online sports betting debut in late January on a day when 10 operators went live across the state. Days later, BetMGM rolled out a mobile sports betting app in Virginia, another state that went live with online sports wagering in January. Having notched a partnership agreement with the MLB’s Washington Nationals, BetMGM plans to open a retail sportsbook at Nationals Park this season – the company’s first in-venue sportsbook. In March, Virginia ranked first in a category known as net gaming revenue (NGR) per player among all digital-only states the company operates in. Across the U.S. market, BetMGM noted that its average time for contribution breakeven as it relates to online sports betting ranges between 12 and 24 months per state. Other highlights from BetMGM Investor Day: *The investment by MGM Resorts and Entain this year is expected to be approximately $450 million, incremental to the $210 million already invested until the end of 2020. *The total long-term addressable market (TAM) for online sports betting and iGaming in North America is now $32 billion, according to BetMGM projections, up from previous estimates of $25 billion. Of that amount, the U.S. online sports betting market accounts for about 44% of the total at $14.1 billion annually. *BetMGM expects to be a participant in the New York online sports betting market and participate actively farther north into Canada. The long-term TAM in Canada is $4.4 billion, according to company projections. The comments were made one day before the Canadian House of Commons passed C-218, a bill that seeks to legalize single-event sports betting in Canada. The bill now heads to the Senate. *Entain’s global platforms handle in excess of 2 million bets per day. In terms of BetMGM’s overall handle, approximately 43% comes from in-play wagers. Across the pond, in-game betting accounts for about two-thirds of sportsbook handle in European markets, Truist Securities analyst Barry Jonas wrote in a research note. *During the first quarter of 2021, BetMGM experienced quarterly growth in parlay bets of 116% in comparison with the fourth quarter of 2020. Seasonality appeared to play a role, as the NBA and NHL opened their respective regular seasons later than usual. *On a long-term basis, BetMGM projects a Cost Per Acquisition (CPA) target of $250 per player. Over the first quarter, BetMGM’s digital sports CPA in Tennessee was about 41% lower than in New Jersey, BetMGM said during the presentation. *Although the company unveiled a BetMGM horse racing mobile app Wednesday, it did not set a firm timeframe for when the app will go live. Greenblatt indicated that the launch is not imminent. *Due to continued state-by-state expansion, BetMGM anticipates that it could see the highest annual cash usage and losses to date this year, Jonas indicated. While BetMGM does not intend to turn a reasonable profit until 2023, it should be noted that Wall Street consensus estimates also forecast a long road to profitability for DraftKings, perhaps not until the same year. BetMGM is also turning to personalization as a tool for retaining customers, Chief Revenue Officer Matt Prevost outlined in a presentation. A customer with a demonstrated history for betting on MLB in-game parlays featuring the New York Yankees may receive an alert prior to the first pitch with a pre-built parlay. Then, throughout the game the customer would receive key stats and trends that could help the player develop an in-game strategy. When asked if BetMGM will offer pitch-by-pitch betting for MLB offerings, the company did not indicate if it would offer the bet type at some point this season. The company does not have any tech limitation in its way if it does want to launch the bet type this year, said BetMGM Chief Operating Officer Ryan Spoon. MGM did not address whether it plans a renewed acquisition attempt of Entain later this year. Entain, formerly known as GVC Holdings, rejected MGM Resorts’ $11 billion takeover attempt in January. Under U.K. takeover law, MGM Resorts is prohibited from making another acquisition approach at Entain before July, sources told Sports Handle." DYOR
1sbb: "Casino.org" "DraftKings Stock Gets Modest Boost from Cowen Upgrade. By Todd Shriber. 1 day ago" "DraftKings (NASDAQ:DKNG) stock is trading modestly higher Monday with the help of a sell-side upgrade. Cowen analyst Stephen Glagola boosted his rating on the daily fantasy sports (DFS) provider to “outperform221; from “market perform,” while lifting his price target on the name to $70. That implies upside of 23.5 percent from the April 30 close. In his new enthusiasm for the stock, Glagola cites a familiar catalyst. "Current legalization trends suggest to us that the 2H:21-FY22 period remains robust, and could result in DKNG being live in states representing up to 51.2% of the adult population by 2022 end,” he said in a note to clients. Glagola is the second analyst in the past two trading days to come to the rescue of DraftKings stock. The name is mired in what’s now a lengthy slump. The shares lost 7.61 percent in April and reside 23.21 percent below the 52-week high notched in March. For DraftKings Stock, Market Share Matters In the fiercely competitive online sports betting industry, where operators such as DraftKings spend heavily to acquire customers, analysts and investors are scrutinizing how well those expenditures pay off in terms of market share. Broadly speaking, DraftKings is adept at establishing share. Although it loses money and is unlikely to be profitable prior to 2022 or 2023, it is the second-largest US online sportsbook operator, behind only FanDuel. “In Q1:21, we have seen state-by-state market concentration solidify around the top 4 operators, where collective OSB handle share exceeded 90% in West Virginia (99.7 percent), Indiana (92.5 percent), Iowa (92.9 percent), Illinois (98.3 percent), Michigan (90.6 percent), and Virginia (99 percent),” said Cowen’s Glagola, pointing out this trend is a positive for DraftKings. Still, there’s concern that DraftKings is potentially vulnerable to ceding the number two spot to BetMGM. The 50/50 joint venture between MGM Resorts International (NYSE:MGM) and Entain Plc (OTC:GMVHY) is fast adding market share in marquee states. It is aiming for a 20 percent to 25 percent overall share of the North American iGaming and sports betting segments. DraftKings Making Moves Analysts and investors primarily view DraftKings through the lens of online sports wagering. While that take is accurate, the operator has other traits that could make it appealing to investors over the long-term. DraftKings is seen as a potential force in the world of in-game betting. The concept hasn’t taken off yet in the US, but one analysts expect will morph into a major growth opportunity for operators in the years ahead. Additionally, the Boston-based company has its technology operation — SBTech — in house, defraying costs associated with farming that business out to third-party vendors. DraftKings is also using acquisitions to move further into the media realm, moves that diversify its product portfolio and revenue stream while possibly lowering customer acquisition costs." DYOR
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