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About Time For A Deal
Following the decision, the odds of one additional rate hike this year jumped to 48% on Wednesday afternoon on Polymarket. The contract asks traders to predict whether the upper bound of the Fed Funds Rate will hit 4.25% by the end of 2026. There is now a 21% chance that the Fed will stand pat for the remainder of year, with a slightly lower probability that the upper bound will reach at least 4.5%.
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.
About Time For A Deal
In March, Polymarket opened The Situation Room, a pop-up “newsbar” in Washington, DC. The bar and lounge’s televisions played various content related to prediction markets, like Bloomberg Terminals, cable news, and live social media feeds that were “dedicated to monitoring the situation.”
A month earlier, Polymarket opened a free grocery store in New York City. The promotion ran Feb. 12-16, with shoppers allowed to gather up to $50 per person in free groceries.
More recently, Polymarket has paid top dollar for prominent athletes and celebrities to promote its prediction market. The company’s paid partners include LeBron James, Derek Jeter, Eli Manning, Spike Lee, and Craig Robinson.
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“Having spent more than two decades in key operating and financial leadership roles at Bally’s, George has been instrumental in developing our business model, asset portfolio and growth strategy,” Reeves said.
“He steps into the interim role supported by an experienced finance organisation and I am confident that our reporting, controls and capital markets work will continue without disruption.”
Bally’s shares plunged 26% on 17 August despite a solid Q2 in which group revenue rose by 20% year-on-year to €792.2 million.
