Gaming America: The Week on Wednesday
Here is what happened in the gaming industry across the Americas in the past week:
FanDuel sees 41% increase for Q2 revenue, remains number one in market share
Flutter Entertainment has released the company’s financial performance throughout the second quarter of 2024, including revenue generated by FanDuel.?Flutter sportsbook revenue increased 41% year-over-year for a Q2 2024 revenue of just under $1.1bn, while its total online gross gaming revenue (GGR) market share was reported to be 38%, including sportsbook GGR share of 51% and iGaming GGR share of 25%.?FanDuel remains the number one sportsbook and now iGaming operator in the US by market share.?Read the full article here.
July: New York State reports $1.26bn sports betting handle
The New York State Gaming Commission has published its mobile sports betting results for the month of July. Last month, the Empire State reported a nearly $1.26bn handle, reflecting more than a $200m decrease in activity when compared to results from the month of June. Last month’s handle was the lowest total during the summer months so far. November 2023 remains the top month since the market’s opening, according to the commission’s report. However, the state has generated some strong results during the past 12 months that include September and October, which brought in monthly handles of $1.75bn and $2bn respectively. Read the full article here.
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Penn Entertainment reports 63.7% decrease for Q2 operating income year-over-year
Penn Entertainment (Penn) has released the financial results for the company’s performance during the second quarter of 2024. Revenues from the quarter were reported to be a total of $1.66bn, a slight 0.7% decrease year-over-year from what the company generated during the second quarter of 2023.?“Our retail business remained stable as consistent consumer trends, our diverse portfolio and recent capital investments offset known, new supply in certain markets,” Penn President and CEO Jay Snowden said.?Read the full article here.
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Alex Alvarado, VP of Casino Operations at Maryland's MGM National Harbor, recently joined The Huddle to discuss growing up in Guatemala, moving to Las Vegas, his time with MGM Resorts and biggest lessons along the way, the Maryland market, the regional casino model and lots more.