With MLB Opening Day today and Fri, we analyzed NY sportsbook pricing to see how companies are positioning their odds. Pricing is consistent with recent major events and less aggressive…
Morgan Stanley : We've received significant pushback on our assumption that DKNG can achieve 23% margins by 2025. We do a deep dive comparing DKNG to int'l comps to outline…
DraftKings Inc: Addressing Feedback on Our Upgrade Not surprising there was significant pushback to our DKNG upgrade. The focus was mainly on margins, with incremental questions around timing, multiples, balance…
SRAD is the largest data distributor in the high-growth global sports betting market, which drives our 25% '20-'23e rev and ~30% EBITDA growth forecast. We believe SRAD's quality warrants a…
IA reported Gaming revs today, becoming the first state to release NFL sports betting data this year. Sept handle was 17% above MSe while revs were 55% light on low…
DKNG announced this morning that it had become an Official Gaming Partner of WWE ($55, rated Equal-weight by Morgan Stanley analyst Ben Swinburne). While betting on scripted events has significant…
We expect the US online gambling opportunity to sustain the momentum of operator consolidation. We evaluate hypothetical scenarios, benchmark potential merger synergies and assess how the forthcoming sale of William…
We expect 12 states to legalize sports betting in '21, NY to legalize OSB, 2-3 states to legalize iGaming, & Ontario to legalize both. With legislative session dates largely set,…
Online Gambling: Poker Disruption Risk from AI The development of superhuman artificial intelligence beating professionals at poker increases risk to the online ecosystem. Leading operators have safeguards against bots but…