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Business
November 21, 2023
Catena Media Completes Divestment of Italian Assets, Wraps up Strategic Review
Catena Media, a leading iGaming affiliate, announced that it has completed the divestment of its Italian sports and casino assets in two deals totaling EUR 19.8 million ($21.7 million). The company, which just posted its Q3 results, has been restructuring its business for over a year now. One of the transactions has now been closed, […]
Business
November 21, 2023
Catena Media Posts Lower Q3 Results Amid Restructuring Efforts
Catena Media, a company that creates content-rich websites that help users navigate the complex world of online sports betting and casino gaming, has published its Q3 results, reporting a favorable net cash position despite a Q3 revenue drop. As reported by the company, its revenue decreased by 28% year-on-year to EUR 15.9 million ($17.4 million, […]
Business
November 21, 2023
ESPN Bet Launch Propels Penn Entertainment’s Stock
Last week marked the debut of ESPN Bet, the newly rebranded sports gaming app owned by Penn Entertainment. The new sports gambling app launched for 17 US states, entering important markets such as New Jersey, Pennsylvania, Colorado, Iowa, Maryland and Michigan, among others. The latest launch comes after a $1.5 billion deal announced between Penn […]
Industry
November 20, 2023
Pennsylvania and Louisiana Break Sports Betting Records in October
October’s sports wagering revenue results revealed impressive performances across several high-profile jurisdictions. Louisiana and Pennsylvania stand out, setting new benchmarks amidst significant growth in their respective markets. Such detailed results remain integral to understanding emerging industry trends, allowing stakeholders to adjust their strategies and keep players engaged. Pennsylvania Remains a Thriving Market Pennsylvania reported an […]
Industry
November 20, 2023
Bond Investors Double Down on Macau Casino Debt
Bond investors from Asia and beyond are taking the risk and doubling down on investments in Macau casino debt. This move carries certain uncertainties but has the potential to be more lucrative than investments in corporate debt. At the moment, investing in Macau casino debt might be less risky than investing in shares too. The […]
Business
November 20, 2023
Gambling Revenue in New Jersey Soars, up by 9.3% For October
The gambling regulator in New Jersey, the Division of Gaming Enforcement (DGE), released its latest report, uncovering details regarding the performance of licensed operators for October. Released Friday, the new report revealed that October marked a strong month for the gambling sector in the state with total gaming revenues hitting $487.1 million. A year-over-year comparison […]
Business
November 17, 2023
Moody’s Improves Melco’s Rating amid Strong Recovery in Macau
The Investors Service of the credit rating agency Moody’s has upgraded the credit rating of Melco Resorts & Entertainment, a major Asian casino company. Previously negative, the company’s rating has now been updated to Ba3, signifying its improving stability. The update comes in the wake of the publishing of the quarterly results of Melco’s City […]
Business
November 16, 2023
Better Collective Reports 26% Revenue Growth in Q3
The leading digital sports media group that owns national and international sports media, Better Collective, has published its interim report for Q3. The company reported “continued strong performance across the group”, as explained by the chief executive officer and co-founder, Jesper Søgaard. Transition Into Recurring Revenue, “Faster Than Expected” The group’s CEO also took the […]
Business
November 15, 2023
Rivalry Secures $10M Investment from a Shareholder
Rivalry, a leading iGaming and online sports betting company, has secured a CAD 14 million (roughly $10.23 million) investment for an undisclosed existing institutional shareholder. The agreement represents a non–brokered private placement offering of convertible debentures under which each convertible debenture will consist of CAD 1,000 principal amount of 10% senior secured convertible debentures of […]
Business
November 15, 2023
Aristocrat Publishes FY 2023 Results
Aristocrat has published its full-year results for 2023, posting a robust revenue and EBITDA gain. Between September 2022 and September 2023, the company recorded operating revenue of AUD 6.3 billion. Now licensed in 103 countries and 327 jurisdictions, the company also reported EBITDA of AUD 2.1 billion. Based on normalized results, operating revenue recorded year-on-year […]
