The news: Quarterly results from the major sports betting operators show a sector boosted by the NFL and college football season kickoffs and the spread of legalized sports betting to more states.
- FanDuel reported Q3 revenues of $1.25 billion, up 51% YoY. Shares of parent company Flutter touched an all-time high this week after its results topped analysts’ estimates.
- Revenues at BetMGM, a partnership between MGM Resorts and Entain Holdings, jumped nearly 20%.