iBET ETF Insights: Rush Street Interactive (RSI) has officially released their Q3 revenue report and the numbers show big growth for the company. The numbers in the report show that RSI had revenue of $148 million in Q3, a 20% increase on their previous years Q3 numbers of $122.9 million. A quote from the CEO of RSI states, “We posted a solid third quarter, as our efficient approach to marketing and robust platform continue to perform well.” RSI also noted in their report that Real-Money Monthly Active Users of RSI in the U.S. and Canada grew 31% with 130,000 users and their unrestricted cash and its equivalents were $195 million with debt as of September 30, 2022.

iBET ETF Insights: DraftKings has just unveiled their Q3 numbers which show that revenue is way up while the company continues lower its losses. The numbers for Q3 dwarf the previous year’s $213 million with $502 million in revenue growth. DraftKings did reports net losses of $450 million for Q3 but that is a good improvement from their 2021 Q3 losses of $545 million. DraftKings CEO Jason Robins released some words on the Q3 report stating, “DrafdtKings has a very strong third quarter. Our team continued to drive top-line growth through highly effective customer engagement and compelling product and technology enhancements while remaining focused on our path to profitability.”

iBET ETF Insights: Penn Entertainment has just unveiled their Q3 report, and the numbers are way up, showing an annual net income increase of 43% to $123.2 million from the prior year of $86.1 million. The company reported $1.6 billion in revenue up 7.5%. Penn is crediting its increase in revenue to adjusted EBITDA results including the Kansas launch as well as a successful media campaign in Ontario. Snowden elaborated on the Ontario strategy stating, “In Ontario, we are enjoying early success during our first football season while benefitting from theScore Bet’s seamless transition to our own fully-integrated, proprietary tech stack.”

iBET ETF Insights: The Houston mogul Tilman Fertitta, has just become the second largest shareholder of Wynn Resorts (WYNN) according to SEC filings which show he has built a 6.1% stake, totaling around 6.9 million shares in the company. Hospitality Headquarters Inc. and Fertitta Entertainment were two names listed in the share purchase from Fertitta. With that the share price of WYNN jumped almost 10% today as investors pile in. Wynn generates around 70% of all of its revenue from Macau which just announced they will be resuming e-visas as well as tour groups in November. If Fertitta were to acquire more of Wynn he could look to become a member of the board and with that he could aid in Wynn Macau’s hospitality efforts using his aforementioned company.

iBET ETF Insights: As Macau begins to ease tourist visa restrictions for mainland visitors, shares of casino operators are on the rise. Shares of Sands China Ltd. were up 4.4% today to HK$13.70, Wynn Macau Ltd. went up 4.9% to HK$3.29, and Galaxy Entertainment Group Ltd. rose 3.0% to HK$36.25. This sudden increase comes as China’s National Immigration Administration stated they would resume visa applications for mainland residents on November 1. The easing of visa restrictions is the first step in Macau’s road map to regaining the interest of investors.