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[mip55] 10/1/2022 11:26

https://www.legalsportsreport.com/61799/five-things-mobile-ny-sports-betting-launch/

[mip55] 10/1/2022 11:15

And....in the real world "I know what's going to happen," Pretlow said late last year. "Five years from now [the operators] are going to come back and say: 'We're not making any money, we need a tax decrease because this isn't working,' and they'll go back to the Pretlow-Addabbo plan."Operators playing a long game might be better off racking up losses initially so they can go back and ask for more favorable conditions in a couple of years.

[the white house] 10/1/2022 11:06

FanDuel systems held up whereas Caesars crashed for 3 whole hours at peak time , which has been publicised widely...

[the white house] 10/1/2022 11:05

Two highest backed teams both fell down with 96 and 97pc of bets. Also the 10th biggest upset in history from the 9/1 Jags will have scuppered many of those first day accasMassive story on the US greatest team, Raiders, and their game where a tie in their game would have ensured both teams involved professing. After being level in normal time (12/1 thank you very much) a last kick field goal avoided a tie and scuppered multi million losses as many conspiracy bettors were on in various forms inc 100/1 and even 700/1 level wagers

[the white house] 10/1/2022 10:58

Engel is cluelessNew Yorkers have had over 2 years to open an account 20 mins away and use it in New Joisey. Tens of thousands of interested and more serious bettors will have done this and USED UP their bonus already. Their transactions levels will multiply as they no longer have to cross the bridgeLeisure punters will however still pick the bonus and use it at levels well below the 1,000 max offered and lose it faster. Low damage potential and faster break even Overall FanDuel in brand new states has seen payback in under a year. I think the huge levels of promotion predicted may well have less impact on the bottom line

[the white house] 10/1/2022 10:49

Monster weekend in many ways for New YorkGeo location recorded 5.8m transactions in first 12 hours, more than double the previous highest in any other state

[mip55] 08/1/2022 14:22

I think the point he is making is that New York is not going to make any of the operators any profit anytime soon and will be a factor in reducing all their EBITDAs , but DKNG - without the worldwide reach and physical diversity of bricks and mortar - will be hardest hit. I don't think it is an over exaggeration to suggest that DKNG might find that New York is a tipping point for their investors. It will be fascinating to watch Cathie Wood's future investment strategy there.

[harigoyal] 08/1/2022 13:09

So as per Engel also it is not same for all

“Consensus is building that BetMGM, Caesars, and FanDuel could break even on an EBITDA basis next year. But Engel adds DraftKings is going to have difficulty stemming 2022 EBITDA losses.”

[mip55] 08/1/2022 07:22

More from Engel here https://www.casino.org/news/draftkings-new-york-mobile-wont-be-helpful-to-the-stock-says-analyst/

[mip55] 08/1/2022 07:19

No doubt at all that NY revenue is going to be huge but, unlike in other states, promotional spend is not tax deductible so operators will be paying 51% of any revenue on tax. Factor in the $25m licensing fee and it's going to be difficult to even break even in the first years. The best we can hope for is to limit losses until the operators can renegotiate this punitive tax regime, but that is not likely in the next twelve months.

[harigoyal] 07/1/2022 22:19

Hi Mip55, Engel May b looking at glass half full. It is good news that online betting starting from tomorrow, before super bowl& other major events. The spending on customer acquisition was going on anyway. It is time to get revenue & profit will follow. So for every means start of NY online betting is very good news for DK, FD& others

[the white house] 07/1/2022 21:29

expected aggressive marketing Oh dear

[tomobrien68] 06/1/2022 21:01

Sports betting in New York to commence on 8th January. Draftkings swung from being 6% down on the day to 6% up on the news. Hopefully Flutter follows suit tomorrow

[harigoyal] 06/1/2022 18:31

Yes, I just watched on CNBC. 4 companies going for online sports betting including Fabduel & DK

[vraetorian] 06/1/2022 18:02

From a technical trading standpoint - 120 was the resistance level. Now, it's retracing back down to support levels. If they hold around 105-108, then it's blue skies for the next leg up

[solarman2013] 06/1/2022 17:46

Why the large drop today ?

[the white house] 05/1/2022 10:33

The rest ?

[the white house] 05/1/2022 10:32

coz I've banked tens of thousands and hope they do not IPO and control from Dublin which their knowledge and decades of experience

[the white house] 05/1/2022 10:30

Winner of the most bizarre opening line of year 2022. Already. Congratulations why do you not see that it is simply not happening. The....consideration was with an experienced US boss, then delay in consideration vis no US boss, now US boss novice) for 3 months nothing You can keep on hoping, but for how long?

[blue59] 05/1/2022 10:29

Shut TF up the lot of you!
And a happy new year to the rest!!

[solarman2013] 05/1/2022 10:05

WH, why are you freaking in this? Of course no COMMITMENT was made. It’s not done until it’s done..

[the white house] 05/1/2022 09:52

All the RNSs from 9 (nine) very long months ago simply state...under consideration...NO commitment has ever been made to ANYTHING going ahead, you cannot delay something that if not happening. All subsequent RNSs do not contradict Flutters initial standpoint so are further distancing from a response to speculation that has been misinterpreted (& Flutter should have ignored) which is why they need to be taken as a whole Find me any commitment, at any point, to an IPO going aheadI'll wait