Financial Data and Key Metrics Changes - The company reported all-time record net revenue of $934 million and adjusted EBITDA of $451 million for the second quarter of 2025, marking the fifth consecutive second quarter of record results [6][26] - Adjusted EBITDA for the Live and Historical Racing segment grew by $17 million or 6% compared to the prior year quarter, driven primarily by HRM growth in Kentucky and Virginia [27][29] - The company generated $455 million or $6.29 per share of free cash flow in the first half of the year, with a reduction in 2025 maintenance capital projection by $10 million to $80 million to $90 million [32][35] Business Line Data and Key Metrics Changes - Churchill Downs Racetrack experienced a slight decline in adjusted EBITDA by $1 million, less than 1%, due to a high prior year comparison from the 150th Kentucky Derby [27] - All HRM properties in Kentucky delivered growth in the second quarter, with particularly strong performance from Northern Kentucky and Louisville venues [28] - The Exacta business contributed over $3 million to adjusted EBITDA growth from both third-party customers and HRM properties [29] Market Data and Key Metrics Changes - Average viewership for the Kentucky Derby broadcast reached nearly 18 million, a 6% increase over 2024, with peak viewership climbing to almost 22 million, up 8% from last year [10] - Social media impressions during Derby Week totaled over 285 million, a 67% increase from 2024 [11] - Wagering on the Derby race was up 11% over last year's all-time high, with Derby Day wagering increasing by 9% [13] Company Strategy and Development Direction - The company plans to grow Derby Week through ticketing revenue, broadcast rights, wagering, sponsorships, and selective renovations [8][15] - A new seven-year contract with NBC will provide a $10 million increase in adjusted EBITDA for 2026, with prime-time coverage for the Kentucky Oaks race expected to enhance visibility and engagement [11][12] - Strategic investments in renovations and expansions at Churchill Downs Racetrack are aimed at elevating guest experiences and broadening appeal [16][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth in Derby Week driven by ticket revenue, strategic investments, and increased wagering [18][24] - The company is focused on building brand awareness and customer relationships in new markets, particularly in Virginia and New Hampshire [19][20] - Management highlighted the importance of capital management and disciplined allocation to support long-term growth [32][35] Other Important Information - The company is targeting to close the acquisition of 90% of the Casino Salem project in New Hampshire in the third quarter, with plans for a state-of-the-art gaming and entertainment destination [21] - The company has retained rights to the associated HRM license in Salem and is evaluating alternative uses for a second HRM license [22] - The company is working on implementing HRM-based electronic table games and has developed a new HRM roulette product [23] Q&A Session Summary Question: Expectations around pricing at the Starting Gate Pavilion - Management expects increased demand and pricing for the Starting Gate Pavilion due to positive reviews and word-of-mouth from last year [38] Question: Discussion around the New Hampshire market - Management indicated that further details will be shared post-transaction closure, emphasizing the strong market demographics and location advantages [41][44] Question: International attendance and marketing for the Derby - Management noted that thoroughbred racing is a global game and emphasized ongoing efforts to build international connections and sponsorships [49][50] Question: Federal tax bill impact on cash flow and capital allocation - Management expects similar cash tax savings for 2026 as in 2025, with a focus on strategic investments and share repurchases when stock value is not reflective of long-term potential [55][56] Question: Growth potential in Kentucky and Virginia HRM markets - Management believes there is substantial runway for growth in both states, with strong metrics supporting ongoing optimism [59] Question: Impact of prediction markets on horse racing - Management does not see prediction markets as a significant risk due to the nature of pari-mutuel wagering and existing legal protections [64][66] Question: Future M&A opportunities in New Hampshire - Management is focused on executing the Salem project but is open to evaluating future opportunities in the region [68] Question: Strategic goals for the Oaks schedule change - The change aims to enhance national visibility for the Oaks and drive attendance and wagering leading into the Derby [72][74] Question: Plans for the area between the First Turn and Sky Terrace - Management confirmed that this area will not disrupt the 2026 Derby and will be detailed in future communications [80] Question: Sponsorship relationships and growth - Management emphasized a strategic approach to sponsorships, focusing on building win-win partnerships and increasing international interest [86]

Core Insights - GameSquare Holdings, Inc. has made a strategic investment by purchasing a rare "Cowboy Ape" CryptoPunk NFT from Robert Leshner for $5.15 million in preferred stock, marking its first direct NFT investment [1][2][3] - The acquisition is part of GameSquare's blockchain-native brand and treasury strategy, which aims for annualized stablecoin returns of 6-10% [1][5] - GameSquare's Ethereum treasury holdings have increased to over $52 million, following a recent $10 million purchase of approximately 2,742.75 ETH [1][7] Investment Strategy - The NFT yield program targets an expected annualized return of 6-10% by leveraging digital assets within the Ethereum ecosystem [5] - GameSquare plans to utilize CryptoPunks for marketing, community building, and potential licensing opportunities, enhancing its Web3 strategy [5] - The company has formed strategic partnerships with leaders in the crypto space to manage and optimize its treasury management program [8] Asset Management - GameSquare's ETH-focused yield generation strategy is built on Dialectic's proprietary platform, aiming for onchain yields of 8-14%, significantly higher than current ETH staking benchmarks [9] - The company has authorized $250 million for its crypto treasury management strategy, with $45 million already invested in ETH [7][8] - Once fully implemented, capital generated from the yield strategy is expected to support additional ETH purchases or reinvest in growth initiatives [10] Leadership and Vision - Justin Kenna, CEO of GameSquare, expressed excitement about the NFT investment and the partnership with Robert Leshner, highlighting the company's forward-thinking strategy in onchain finance [2][3] - The acquisition of the CryptoPunk is seen as a strategic investment and a statement of intent regarding the long-term value of digital identity and decentralized ownership [4]

SINGAPORE, July 24, 2025 (GLOBE NEWSWIRE) -- GCL Global Holdings Ltd. (NASDAQ: GCL) (“GCL” or the “Company”), a leading provider of games and entertainment, today announced it will host a conference call to discuss fiscal year 2025 results on Thursday, July 31, 2025, at 8:00 a.m. EDT. The earnings release and related investor deck will be available prior to the event in the “Financial Results” section under “Financials”, while the live webcast will be available in the “Events” section under the “News & Eve ...

Core Insights - Sea Limited has successfully rebuilt its business after a significant decline in stock value, dropping 91% from its peak in late 2021 [1][2] - The company is now a more disciplined and profitable enterprise, with all three core segments—Shopee, Monee, and Garena—generating positive operating income [2][14] - The focus for long-term investors is on the next phase of growth, which may be more sustainable than previous growth periods [3] Segment Summaries Shopee: E-commerce Growth - Shopee holds a dominant 48% market share in Southeast Asia's e-commerce sector and is focusing on deepening monetization rather than merely increasing user numbers [5][6] - Strategies for improving take rates include enhanced seller ads, logistics services, financial products, AI-driven personalization, loyalty programs, and category expansion [7][5] - The leadership position of Shopee allows for increased monetization without losing users, potentially making it a reliable source of profit growth [6] Monee: Fintech Expansion - Monee, Sea's fintech arm, is rapidly evolving into a significant profit contributor, offering a range of digital financial services [8] - The digital lending business has grown substantially, with over 28 million active borrowers and $5.8 billion in outstanding loans, generating $787 million in revenue and $241 million in adjusted EBITDA in Q1 2025 [9][10] - Monee is expanding into adjacent verticals such as buy now, pay later, insurance, SME lending, and investments, enhancing its role in Sea's digital ecosystem [10] Garena: Gaming Recovery - Garena, once Sea's flagship business, is showing signs of stability after a decline, with bookings increasing by 51% year over year to $775 million in Q1 2025 [11] - The core title, Free Fire, remains the top mobile battle royale game globally, and the company is investing in content refreshes and esports events to sustain growth [11][12] - Garena is also exploring new game development and potential reentry into the Indian market, which could unlock significant growth opportunities [13] Investor Implications - Despite the previous hype fading, Sea's stock is on a recovery path with improved fundamentals across its multi-engine business [14] - Efficient monetization in Shopee, scaling in Monee, and a rebound in Garena suggest that Sea still has growth potential [14]

vaneck isn't buying tokens. they're building game reward systems.• rwas as in-game rewards• verification services for gaming assets• $11m funding roundold money found their preferred entry point. games first, markets second. ...

分组1 - Churchill Downs reported quarterly earnings of $3.1 per share, exceeding the Zacks Consensus Estimate of $3.03 per share, and up from $2.89 per share a year ago, representing an earnings surprise of +2.31% [1] - The company posted revenues of $934.4 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 1.39%, and an increase from $890.7 million year-over-year [2] - Churchill Downs has surpassed consensus EPS estimates two times over the last four quarters and topped consensus revenue estimates twice as well [2] 分组2 - The stock has underperformed, losing about 19.1% since the beginning of the year, while the S&P 500 has gained 7.3% [3] - The current consensus EPS estimate for the coming quarter is $1.14 on revenues of $667.29 million, and for the current fiscal year, it is $6.30 on revenues of $2.88 billion [7] - The Zacks Industry Rank indicates that the Gaming industry is currently in the top 26% of over 250 Zacks industries, suggesting a favorable outlook for stocks in this sector [8]

Company Announcement - Churchill Downs Incorporated ("CDI") announced a new $500 million share repurchase program, replacing the previous $500 million program authorized in March 2025 [1] - The new program allows for share repurchases at management's discretion, either in the open market or through privately negotiated transactions, and has no time limit [1] Company Background - CDI has been in operation for over 150 years, with its most iconic asset being the Kentucky Derby [2] - The company is headquartered in Louisville, Kentucky, and has expanded through acquisitions and the operation of live and historical racing venues, online wagering businesses, and regional casino gaming properties [2]

Company Overview - Melco Resorts (MLCO) currently holds a Momentum Style Score of B, indicating potential for strong performance based on recent trends [3] - The company has a Zacks Rank of 1 (Strong Buy), suggesting it is expected to outperform the market [4] Price Performance - Over the past week, MLCO shares have increased by 3.1%, while the Zacks Gaming industry has remained flat [6] - In the last month, MLCO's price change is 33.63%, significantly outperforming the industry's 3.97% [6] - For the past quarter, MLCO shares have risen by 76.45%, and over the last year, they are up 50.33%, compared to the S&P 500's increases of 19.69% and 14.71%, respectively [7] Trading Volume - MLCO's average 20-day trading volume is 4,372,181 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the last two months, two earnings estimates for MLCO have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $0.24 to $0.29 [10] - For the next fiscal year, two estimates have also moved upwards, indicating positive sentiment regarding future earnings [10] Conclusion - Considering the positive price trends, strong earnings outlook, and favorable trading volume, MLCO is positioned as a strong momentum pick with a Momentum Score of B and a Zacks Rank of 1 (Strong Buy) [12]

Stablecoin & Utility - The focus is shifting towards stablecoin utility and real-world use cases, highlighting that adoption hinges on utility [1] - Consumer use cases are crucial for scaling, even with robust infrastructure [1] Gaming Industry & On-Chain Integration - The global gaming economy is valued at $87 billion, driven by microtransactions and in-game currencies [1] - Billions of dollars flow through in-game purchases monthly, but currently, none of it is on-chain [2] - Sei is positioned to integrate these transactions on-chain [2] Sei's Positioning & Strategy - Sei combines institutional-grade infrastructure with native stablecoin support, designed for real economic activity at scale [2] - Sei aims to power mass market games on-chain as the 1 gaming chain [2] - Sei's momentum in the APAC region is increasing [2]

Group 1: Market Overview - Pre-market futures are up, driven by foreign auto companies, particularly Japanese firms, following a new trade agreement that reduces tariffs on Japanese imported autos from +27.5% to +15% [1] - Major indexes are showing robust gains, with the Dow up +240 points (+0.54%), S&P 500 up +24 points (+0.38%), Nasdaq up +24 points (+0.10%), and Russell 2000 leading at +19 points (+0.87%) [3] Group 2: Company Performance - Toyota Motors (TM) is up +14% in early trading, while Honda Motor Co. (HMC) is up +11%, despite both companies facing expected double-digit earnings losses in upcoming quarterly reports [2] - AT&T (T) reported earnings of 54 cents per share, beating estimates by 3 cents, with revenues of $30.85 billion, up +1% from estimates, but shares are down -2.5% in early trading [4] - NextEra Energy (NEE) also exceeded bottom-line expectations with earnings of $1.05 per share, but revenues of $6.7 billion missed estimates by -7.28%, yet the stock is up +0.4% in pre-market [5] Group 3: Upcoming Earnings Reports - Major Q2 earnings reports are expected after the market closes, including Alphabet (GOOGL) and Tesla (TSLA), with GOOGL anticipating over +13% earnings growth and better than +11% revenue gains, while Tesla is expected to see declines of -25% on earnings and -12% on revenue [7] - Other companies reporting include IBM (IBM), Southwest Airlines (LUV), ServiceNow (NOW), and Las Vegas Sands (LVS), indicating a busy earnings season across multiple sectors [8]