Gaming America: The Week on Wednesday
The Week on Wednesday: August 17, 2022
Welcome back to?Gaming America’s newsletter in which we give you the top gaming industry stories from the Americas.
In the past seven days Entain, Flutter Entertainment, 888 Holdings, Wynn Resorts and Mohegan released their Q2 performance updates. Moreover, the latest numbers revealed by the American Gaming Association suggest that 2022 is on pace to post another annual record for commercial gaming revenue, for a second consecutive year. Elsewhere, Inspired Entertainment made a $370m bid for PlayAGS, which the slots manufacturer rejected.
Flutter reports 9% annual revenue increase; FanDuel increases market share to 51%
Flutter Entertainment (owner of FanDuel) has posted its results for H1 of 2022, showing a 9% year-on-year revenue increase to $4.12bn. This was partially driven by a 14% uptick of 1.1 million new customers, gained through aggressive marketing campaigns in the US this year. FanDuel continues to prove integral to Flutter’s financial result, as the company’s market share rose to 51%. This was a 6% year-on-year rise from its first-half market share of 2021, as FanDuel consolidated its position as the US market’s leading sports betting company. Read the full article here.?
AGA reports strong-performing quarter for US commercial gaming with 18% annual revenue increase
The American Gaming Association (AGA) has reported that nationwide commercial gaming revenue reached $14.8bn for Q2 of this year, which sets a record for the industry’s all-time highest quarter. AGA CEO and President Bill Miller commented: “Q2’s results mark 16 months of gains for commercial gaming. With increasingly difficult year-over-year comparisons, our strength through the first half of 2022 reflects sustained consumer demand as well as gaming’s record popularity.” Read the full article here.
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PlayAGS rejects Inspired’s $370m acquisition bid
PlayAGS has rejected Inspired Entertainment’s $370m bid to acquire the Nevada-based slots company. Inspired made an offer worth $10 per share, well over the market's valuation (on Monday) of $8.25 per share for PlayAGS. The company specified that it is only rejecting the offer that has currently been tabled and will remain in discussions with Inspired. In a statement, PlayAGS’s board members and management said they are fully committed to focusing on the best interests of its stakeholders. Read the full article here.
Other popular stories on?Gaming America:
From?Gaming America?magazine:
A Saharan story
“Much of what we know as modern Las Vegas started at The Sahara. This property has seen it all and emerged sometimes successfully, sometimes less so. As the Northern Strip re-introduces megaresorts to replace the imploded past, SAHARA will find itself less isolated, which has been its curse for the past two decades. 2022 marks its 70th anniversary and the SAHARA Las Vegas gives us all a reminder: what is lost can be found, if you look for it,” writes Oliver Lovat. Read the full article here.
All articles from the latest edition of?Gaming America?magazine are available to read?here.?