DraftKings, FanDuel brace for Q3 results amid tough NFL season
Sports betting platforms DraftKings (DKNG) and FanDuel — the latter owned by Flutter Entertainment (FLUT) — are set to report their third-quarter earnings this week. The companies could face headwinds from a challenging start to the NFL season. JMP senior equity research analyst Jordan Bender joins Market Domination to discuss his outlook on the sports betting space ahead of these two key earnings results. Bender notes that the NFL season has started poorly for the sports bookers, with bettors winning more than anticipated. "This is putting more money in people's pockets and less money in the sports operators' pockets," he explains. Bender says this has sparked concerns about the financial impacts for companies and the lingering effect on the fourth quarter and 2025. Despite this short-term hiccup, Bender remains optimistic about the sector's long-term prospects. "We do think that underlying fundamentals are actually very, very strong within this sector," he tells Yahoo Finance. "What we call bad game outcomes or the favorites winning, which is what we're seeing here, this is just part of the online gaming ecosystem. This is what investors have to learn to trade around." Watch the video above to hear what Bender says about Vegas gambling operators Caesars Entertainment (CZR) and MGM (MGM). To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Angel Smith
