Rush Street had the most impressive showing on a strong month for gaming stocks. The BetRivers and PlaySugarHouse parent topped both FanDuel and DraftKings, which combined to take in more than two-thirds of the national handle.Stocks for America’s two largest sportsbooks had a fantastic November. It was even better for one of the nation’s smaller operators.
Rush Street remains bullish due to its success in international markets, particularly Latin America. While other U.S. operators have focused much of their energies exclusively on the U.S. and Ontario, Rush Street officials see massive potential in emerging markets including Mexico, Columbia, and Peru.
The nation’s projected No. 2 sportsbook by handle saw its stock gain more than 23% in November, clipping FanDuel parent company Flutter’s 20% improvement. For the past several years, the pair have created a de facto sports betting duopoly, but investors in November were slightly more bullish on DraftKings.DraftKings, along with FanDuel, contributed $20 million apiece to bring legal sports betting to Missouri.
Flutter’s more than 20% stock rise last month was its biggest single-month increase in 2024. The UK-based FanDuel parent is now up more than 32% since it listed in the U.S. in January.. Though FanDuel, like the rest of the industry, saw a hit to its bottom lines after a record-setting run by the betting public in October, the company said during its most recent earnings call it expects that to be an outlier.
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Fuente: CBSNews - 🏆 87. / 68 Leer más »