Analysis: What To Watch For In Q3 Sports Betting Earnings Calls

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Third quarter sports betting earnings calls are on the horizon with the first big operator, Caesars, set to report on Halloween.

Shareholders and analysts are hoping for anything but spooky results from a third quarter which likely left most operators in the red because of promotional spending for the return of NFL betting.

A couple of key topics should tell the story of a busy third quarter that most hope will rebound with a profitable fourth.

Increased sports betting promos

Expect higher promotional spending to be a hot topic for operators.

Operators could score a win with shareholders if digital EBITDA comes in better than expected. But that could be hard given the launch of Kentucky sports betting launch and the first September of mobile sports betting in Maryland, on top of football promos.

Barry Jonas of Truist noted in his Q3 preview that he expects “significant profit” from operators in the fourth quarter.

As much detail as possible, please

Ideally, operators would touch on three specific time periods:

Sports betting product updates

It is already the sixth football season in the post-PASPA US sports betting landscape, but it could be one of the most pivotal.

Newcomers ESPN Bet and Fanatics, along with international giant bet365. are involved this time around.

Aside from the marketing challenges, this means three more operators for companies to compete with on the technical side.

Keeping pace or changing speed?

Important product updates to watch include:

Update on US Flutter listing?

Plenty of ears will be tuned into trading update of FanDuel’s parent company, Flutter, on Nov. 9 for any updates on its planned US secondary listing.

Shareholders overwhelmingly approved the listing earlier this year. The last update on the launch gave a timeline of either late fourth quarter or early first quarter 2024.