Core Viewpoint - Flutter Entertainment plc is launching an offering of senior secured notes in multiple currencies to fund strategic acquisitions and partnerships, indicating a proactive approach to growth and market positioning [1][3]. Group 1: Offering Details - Flutter is offering USD, EUR, and GBP-denominated senior secured notes due in 2031, which will be a further issuance of previously issued notes [1]. - The total amount intended to be raised through the notes and an incremental debt facility is $1,755 million [3]. Group 2: Purpose of Funds - Proceeds from the offering will be used to acquire a 5% minority interest in FanDuel and to extend a strategic partnership with Boyd Interactive Gaming Holdings, L.L.C. [3]. Group 3: Company Overview - Flutter is recognized as a leading online sports betting and iGaming operator globally, with a strong market presence in the US [4]. - The company operates a diverse portfolio of brands, including FanDuel, Sky Betting & Gaming, and PokerStars, among others [5].

Core Insights - DraftKings Inc. (DKNG) is outperforming competitors in customer acquisition within the sports betting sector, showcasing strong user growth and retention strategies in Q1 2025 [1][5] Customer Acquisition and Marketing Efficiency - New customer acquisition met expectations, with a notable emphasis on the efficiency of scaling operations, optimizing marketing costs, and benefiting from brand equity and improved promotional targeting [2][4] - The company has achieved better gross margins and EBITDA performance despite facing challenging sports outcomes [2] Product Innovation and Engagement - Over 50% of the total handle in Q1 2025 originated from live betting, marking a significant milestone for DraftKings [3] - Successful integration of acquisitions like SimpleBet and Sports IQ has enhanced real-time wagering capabilities, leading to increased user engagement [3] - There is a notable rise in the adoption of parlay and same-game parlay bets, which are associated with higher structural hold rates [3] Profitability and User Maturity - Despite customer-friendly outcomes reducing actual sportsbook hold to 9.5%, structural hold increased to 10.4%, indicating strengthening profitability [4] - As newly acquired users mature, promotional intensity decreases while contribution profit rises, demonstrating effective management across jurisdictions [4] Competitive Landscape - DraftKings is gaining ground against FanDuel and BetMGM, with recent trends indicating a lead in live betting and product enhancements [6][7] - FanDuel, while still leading in market share, is experiencing pressure as DraftKings narrows the gap through efficient customer acquisition strategies [7] - BetMGM is lagging in sportsbook engagement despite strong iGaming performance, highlighting DraftKings' advantage in product innovation [8] Financial Performance and Valuation - DKNG shares have increased by 30.3% over the past three months, slightly trailing the industry's growth of 31.2% [9] - The company is currently trading at a premium with a forward 12-month price-to-sales ratio of 5.69X [12] - Zacks Consensus Estimates indicate a significant year-over-year earnings growth of 226.7% for 2025 and 61.3% for 2026 [15]

Earns 415 ETH in Staking Rewards Since Treasury Strategy Launch on June 2, 2025 MINNEAPOLIS, MN, July 15, 2025 (GLOBE NEWSWIRE) -- SharpLink Gaming, Inc. (Nasdaq: SBET) ("SharpLink" or the "Company"), the world's largest publicly traded company to adopt Ether ("ETH") as its primary treasury reserve asset, today announced it has officially become the world's largest corporate holder of ETH with 280,706 ETH as of July 13, 2025. Key highlights include: The Company plans to continue providing detailed updates o ...

ETH Concentration is calculated as: Total ETH Held ÷ 1,000 Assumed Diluted Shares Outstanding. Earns 415 ETH in Staking Rewards Since Treasury Strategy Launch on June 2, 2025 MINNEAPOLIS, MN, July 15, 2025 (GLOBE NEWSWIRE) -- SharpLink Gaming, Inc. (Nasdaq: SBET) ("SharpLink" or the "Company"), the world's largest publicly traded company to adopt Ether ("ETH") as its primary treasury reserve asset, today announced it has officially become the world's largest corporate holder of ETH with 280,706 ETH as of Ju ...

A little-known provision reduces the share of tax-deductible wagering losses from 100% to 90%. For sports bettors, who earn slim margins on large volumes, this change is catastrophic https://t.co/0yoYWWBcFj ...

Trade & Tariffs - US imposes 35% tariffs on imports from Canada, effective August 1st [1] - Tariffs attributed to fentanyl concerns [1] Geopolitics & Diplomacy - US and China's foreign ministers meet in Malaysia to discuss trade tensions [2] - A summit between Presidents Trump and she is likely [2] Technology - Google reportedly reaches a deal to provide cloud computing services for the US government at a heavily discounted price [2] - Apple plans new product releases for the first half of 2026, including a new low-end iPhone, multiple iPads, and upgraded Mac computers [3] Mergers & Acquisitions - Flutter Entertainment acquires Boyd Gaming's 5% stake in FanDuel for $1.76 billion [3] - The deal values FanDuel at $31 billion [3] Market Share - FanDuel holds 43% of the sports betting market [3]

Core Viewpoint - Flutter Entertainment has announced the extension of its strategic partnership with Boyd Gaming Corporation to 2038 and the acquisition of Boyd's 5% stake in FanDuel for approximately $1.755 billion, increasing Flutter's ownership in FanDuel to 100% at an implied valuation of around $31 billion [1][2][3]. Group 1: Strategic Partnership and Acquisition - The acquisition involves a payment of approximately $1.755 billion, which includes $1.55 billion for the stake in FanDuel and $205 million for revised commercial terms [2][12]. - The strategic partnership extension with Boyd will lead to significantly reduced market access costs, expected to save Flutter approximately $65 million annually starting July 1, 2025 [2][6][12]. Group 2: Market Position and Financial Impact - FanDuel holds a 43% market share in sports betting and 27% in iGaming in the US, making it the clear market leader [6][12]. - The transaction is anticipated to enhance Flutter's long-term profitability profile and mitigate potential tax increases, with the expected annual savings contributing to a more favorable adjusted EBITDA margin [6][12]. Group 3: Financial Arrangements - Flutter has entered into a bridge credit agreement for a senior secured first lien term loan of $1.75 billion to finance the acquisition [5][7]. - The leverage ratio is expected to increase initially but is projected to decrease due to visible profitable growth opportunities, with a commitment to maintain a medium-term leverage ratio of 2.0-2.5x [3][6].

Sports Betting Industry - Trump's "One, Big, Beautiful Bill" signals a bold pivot in the politics of sports gambling, impacting the sports betting industry [1] Revenue & Financial Deals - Texas Tech's football recruit deal involves $5.1 million in revenue sharing [1] - The financial plays shaping the sports business, including the money behind the Tour de France, are ones to watch [1] Media & Partnerships - Matchroom Sport's partnership with DAZN focuses on the global growth of professional fighting [1] - Yahoo Finance and Yahoo Sports produce the "Yahoo Finance Sports Report" vodcast [1] MLB & Collective Bargaining - MLB collective bargaining agreement negotiations are a key topic [1]

Industry Overview - Sports betting is one of the fastest growing industries in America, dominated by DraftKings and Flutter Entertainment (parent of FanDuel) [1] Legislative Change - A provision in the budget bill changes the way gambling income is taxed [2] - The change is located on page 237 of the 870-page bill [2] Tax Implications - Current law allows deduction of gambling losses from winnings, taxing only net winnings [3] - Starting next year, only 90% of gambling losses can be deducted [4] - Example: With $1,000 winnings and $1,000 losses, only $900 in losses can be deducted, resulting in taxes on the remaining $100 [4]

Core Points - Rush Street Interactive, Inc. (RSI) will release its second quarter 2025 results on July 30, 2025, after market close, followed by a conference call at 6:00 pm Eastern Time [1] - The earnings press release and related materials will be accessible on RSI's investor relations website [2] - An audio replay of the conference call will be available on the investor relations website until at least August 30, 2025 [3] Company Overview - RSI is an online gaming and sports entertainment company operating in the U.S., Canada, and Latin America, with brands including BetRivers, PlaySugarHouse, and RushBet [4] - The company offers real-money mobile and online operations in fifteen U.S. states and several international markets, including Colombia, Ontario, Mexico, and Peru [4] - RSI has received multiple awards for its services, including being named the EGR North America Awards Customer Services Operator of the Year for five consecutive years from 2020 to 2024 [4]