Wild Skullz

About Wild Skullz

“Hopefully [the players] are mature enough to know that one of 17 is nothing,” Kubiak said.

Running back Ashton Jeanty fully participated in practice Friday after dealing with an ankle injury that sidelined him prior to Week 1. Jeanty delivered a standout performance against Miami, rushing for 102 yards on 23 carries while adding six receptions for 45 yards and two touchdowns.

The Raiders’ revamped offensive line didn’t allow a single sack against Miami while opening running lanes for Jeanty. However, they face a significantly tougher test Sunday against Khalil Mack, Tuli Tuipulotu, and the Chargers’ pass rush.

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“People look primarily at the instances where things go wrong for players; of course, every single one of those is one too many. But they don’t tend to look at the large number of people enjoying gambling.”

Holland Casino was one of the first operators out of the gate when the newly-minted market opened in 2021, and while they don’t have the position they occupied in those early days, the company’s online offering is healthy. When they launched online, Petra says “we were very well known for – and are very well known for – responsible gaming.

“That was the reason why we joined [online as well as land-based]. But we were a full brick-and-mortar company so it took us some time to prepare for that market. In the beginning, the market share was of course higher because you only had 10 operators and we had a very well-known brand name, but now the market is much bigger and you have operators more specialised in sports betting and things like that. We have dropped down a bit.”

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According to Multiples.VC, the average enterprise multiple (EV/EBITDA) of top US-listed gaming companies is currently 10x. Data from New York University last updated in January pegged the overall market average at 23.9x and 19.7x among EBITDA-positive firms, suggesting the sector is undervalued relative to other industries. In a report released Monday, Fitch Ratings said most North American gaming companies hold “Stable” outlooks with “adequate rating headroom” despite consumer headwinds.

Macquarie’s Beynon agrees with that sentiment, pointing to the relative stability of gaming companies through tough economic stretches such as the Covid-19 pandemic. Bankruptcies in the sector have been low relative to the broader market, he notes, and both land-based and digital companies have reason for optimism moving forward.

“It’s certainly not lost on us that this sector has underperformed for several years in a row just because it doesn’t have either the growth of say, tech companies, or the perceived free cash flow-insulated businesses, which we believe it does…We’ve thought there’s been value in the sector for a few years, particularly this year,” he told iGB.