WagerBiz
Gambling Business
Sports Betting Tax Hikes: What They Do to Margins
State tax hikes in New Jersey and Illinois cut into sportsbook profit. See the 2025 rates, the per-wager fee and the margin…
GGR vs NGR: Gross Gaming Revenue Explained
Gross gaming revenue (GGR) is wagers minus winnings; NGR deducts more. See the math, a worked example and how U.S. states define…
How Sportsbooks Make Money: Hold, Vig and Taxes
Sportsbooks keep a share of every dollar wagered. See how hold, the vig, parlays, promotions and state taxes shape revenue, using 2025…
Operators
How DraftKings Makes Money: Business Model Explained
How DraftKings Inc. makes money: fiscal 2025 revenue by product, gaming taxes, margins and customer metrics from its filings.
How MGM Resorts’ Business Model Works
MGM Resorts’ four segments explained: Las Vegas, regional casinos, MGM China and digital, with 2025 and Q2 2026 figures from filings.
How Flutter Entertainment’s Business Model Works
Flutter Entertainment reported $16.4 billion of revenue in fiscal 2025. See how its sportsbook and iGaming model earns money, where margins sit…
WagerBiz in Numbers
- Active Monthly Users Around the World
- 1M+
- Guides and Reviews
- 150+
- Topics
- 7
- Authors
- 3
Suppliers
How Light & Wonder Makes Money: Business Model Explained
How Light & Wonder makes money: fiscal 2025 revenue by segment, recurring vs one-time gaming revenue, margins and one-off costs.
How Genius Sports Makes Money: Data Rights and Media
How Genius Sports earns revenue from official data rights, betting technology and media, with fiscal 2025 and Q2 2026 figures from its…
How Gaming Suppliers Make Money: Sales vs Recurring Revenue
Gaming suppliers earn from one-time machine sales and recurring placements. Light & Wonder’s 2025 results show how the two models differ in…
M&A
Why Tabcorp Is Buying BetMakers: Deal Terms and Status
Tabcorp has agreed to buy BetMakers for A$0.24 per share. A look at the deal terms, the valuation math, the stated rationale…
Why Fertitta Is Buying Caesars: Deal Terms and Status
How Fertitta Entertainment’s take-private deal for Caesars Entertainment is structured, what the disclosed numbers mean and which approvals remain.
Financial Results
MGM Resorts Q3 2026 Results: EBITDA Down, Loss Narrows
MGM Resorts’ Q3 2026 results: revenue, Adjusted EBITDA, segment profit and why the net loss narrowed, from the company’s October 28 release.
Flutter Q2 2026 Results: Revenue Up, Profit Down
Flutter Entertainment’s Q2 2026 results analyzed from the company’s release: revenue, adjusted EBITDA, segments, net loss and updated guidance.
DraftKings Q2 2026 Results: Volume Up, Revenue Down
DraftKings’ Q2 2026 volume rose 14.5% while revenue fell 4.6% and Adjusted EBITDA dropped to $114.6M. See what drove the gap and…
