Earnings season for the second quarter is now in full swing with six calls from US sports betting operators scheduled for this week.
Sports betting earnings calls started last week, with Kambi and Boyd the first companies told hold calls.
This should be the busiest week, though, with five calls scheduled through Friday morning.
Sports betting calls scheduled
BetMGM kicks off the week before the market opens Monday morning, but it is just a release about the first half with no call, which means no Q&A for analysts. The release is coming out before Wednesday‘s MGM call and next Thursday‘s Entain call, so it is not clear what kind of specific numbers will be released.
Tuesday features Caesars at 5:30 pm Eastern and is followed up a few hours later by BlueBet at 9 pm. The owner of the Clutch Bet brand may provide more details on plans for its three other live US states after announcing it would exit Indiana in June.
Wednesday is the busiest day with the aforementioned MGM call taking place at 5 pm. It is sandwiched by Bally’s at 4:30 pm and BetRivers parent Rush Street Interactive at 6 pm.
Thursday does not have any calls scheduled but DraftKings is again releasing its results the day before its earnings call after the market closes. The company will talk with investors and analysts about the results at 8:30 am Friday.
Boyd leaves door open for M&A
Boyd was not specifically asked about the rumors that could see it buying Penn Entertainment (with FanDuel parent Flutter involved according to one rumor), but management did not close the door on making a purchase.
“So, look, if you look back over the history of our company, we’ve obviously, the majority of our growth obviously has come through M&A,” Boyd CEO Keith Smith said. “And I think we’ve developed a great expertise at it.”
“We know how to buy properties right, companies right, we know how to extract value out of these companies once they’re part of our portfolio. Look, we’ve always been willing, it’s not new news, to take a hard look at opportunities that arise. And so, we’ll continue to do that.”
Key to any deal is whether it generates free cash flow and has a valuation that “makes sense for us,” CFO Josh Hirsberg added.
