Ryan Butler
@ButlerBets
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iCasino, sports betting and gaming industry corporate, legislative and financial news (plus occasional sports rants) for @covers. NoVa native, @UF Grad
Joined December 2018
FanDuel expects to lose around $30 million in December revenue from its Missouri sports launch due to free bets and other promotions, per Flutter earnings call.
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Flutter projects FanDuel will generate $7.61 billion in US revenue for calendar year 2025. McDonald's reported $10.63 billion in US revenue for calendar year 2024.
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Flutter's earnings release projects FanDuel bettors in Illinois will place a combined 60 million wagers between Sept. 1 and Dec. 31, or roughly 500,000 separate bets a day.
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FanDuel reports 16.3% sportsbook gross gaming revenue margin in June, the highest mark in company history. This is roughly triple Nevada sportsbooks' historic hold percentage from before FanDuel launched its book in 2018.
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FanDuel CEO on US prediction markets: "We are closely monitoring regulatory developments, and are assessing the opportunities and potential participation strategies this may present for FanDuel.".
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CEO of FanDuel's parent company said in an investor letter today Flutter remains "well placed for admission to other major US indices." $FLUT is already listed in the CRSP and Russell.
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PENN's digital division again improves its quarterly digital profits (and revenue losses) ahead of a pivotal third quarter where the company hopes an improving product and further ESPN integrations will bring ESPN BET one step closer to profitability.
covers.com
ESPN BET cuts losses and hits revenue record in Q2 2025 as PENN eyes profitability by year's end amid tough competition and rising investor pressure.
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ESPN BET plans to launch its mobile sportsbook in Missouri in December, Penn Entertainment officials said during today's earnings call; the company will also open retail books at its three Missouri casinos.
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DraftKings' July 2025 baseball handle increased by more than 10% year-over-year from 2024, $DKNG CEO Jason Robins said during today's earnings call.
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DraftKings' Missouri mobile sports betting launch set for Dec. 1 will cost the company between $35 and $45 million in adjusted EBITDA losses this year from promotions and marketing costs in the state, $DKNG officials said during today's earnings call.
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DraftKings CEO Jason Robins largely dodges specfics about long-term company prediction market plans when asked multiple times during $DKNG earnings call, saying DK is "watching" while still needing to balance existing relationships with tribes, regulators and other stakeholders.
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Preview of ESPN BET's pending Fan Center feature that allows users to integrate their ESPN Fantasy team rosters with the book (via $PENN Q2 earnings presentation)
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$PENN Entertainment projects its Hollywood iCasino platform has 3.5% GGR market share in Pennsylvania and 3.1% market share in Michigan, per company Q2 earnings presentation.
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$PENN Entertainment reports its interactive division (ESPN BET sportsbook, theScore and Hollywood iCasino) grew revenue from $232 million in Q2 2024 to $316 million in Q2 2025; Adjusted EBITDAR improved from a loss of ($103) million to a loss of ($62) million year-over-year.
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ESPN BET monthly active user total improved from 465,000 in Q2 2024 to 487,000 in Q2 2025, per $PENN earnings report.
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There was no doubt about this, but DraftKings made it clear (again) in today's earnings release that it expects to launch its mobile sportsbook in Missouri Dec. 1, the first day legal books will be allowed to do so.
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DraftKings' second-quarter live betting handle increased 16% year-over-year, per company release.
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