Beat the clock
1 min read
Bull in a bear market: While not exactly betting the farm, DraftKings showed it is certainly rolling the dice on prediction markets with its investment in the product cratering the expected FY26 adj. EBITDA outcome to just over $225m at midpoint, down from a midpoint of $800m previously. In the accompanying shareholder letter CEO Jason Robins was bullish, claiming that even if sports predictions were shut down by the Supreme Court in 2028, the 2026 cohort would have “fully paid back by then.” But after-hours trading indicates the investor reaction could be brutal.
Also featured in this edition: Light & Wonder, Kambi, Genius Sports, Penn, SciPlay, Hacksaw Gaming, GiG Software, Boyd, Pollard Banknote, Melco, Wynn, SJM, Full House, Super Group, and in connections: Brazino777, FanDuel, Octoplay, MrQ, Pragmatic Play, Rank, Imagine Live, Gaming1, BurraPay, RPM, Merkur, Spintec.
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