According to analysts at Jefferies, the proposed ad ban in Australia is likely to have a net positive effect on incumbent brands in the industry. The proposals in the Australian parliament would impose a blanket ban on advertising, promotions, and sports sponsorships. While there may be an initial negative reaction to the news, Jefferies expects that any ban would ultimately benefit established brands. This includes market leader Sportsbet, owned by Flutter, as well as Tabcorp, which has reportedly been supporting the move. Jefferies predicts that the market dynamics would result in slower market growth overall but greater market share for the incumbents. Challenger brands would face challenges in gaining visibility without the assistance of above-the-line advertising. The analysts also noted that operators with a land-based […]

Super Group’s inclusion in the Russell 2000® Index and Russell 3000® Index took place during the annual reconstitution of the Russell Indexes. The formal inclusion occurred after trading closed on June 23, and the effective inclusion started with the market opening on June 26. However, the stock price of Super Group dropped by over 20% following its inclusion, likely due to excess trading volume associated with being added to the index. The inclusion in the Russell 2000® Index automatically extends to the Russell 3000® Index as well. Super Group hopes that this elevation in status will increase its visibility among investors and potentially boost the company’s market capitalization. Super Group CEO Neal Menashe expressed excitement about joining the Russell 2000 Index and noted that this […]

PointsBet has announced that its board unanimously recommends an improved $225 million offer from Fanatics Betting and Gaming (FBG) for its US betting interests. This offer represents a 50% increase from FBG’s prior bid. The deal will involve an initial payment of $175 million upon completion, with an additional $50 million to be paid at a later date. DraftKings, which had previously made a bid of $195 million, failed to meet a deadline to submit a binding offer and stated that it is “no longer pursuing” a deal. PointsBet shareholders will vote on the deal at an Extraordinary General Meeting on June 30. The proceeds from the sale will be returned to shareholders, with the first tranche expected in September. PointsBet believes that the new […]