Specialist
Former SVP, Strategic Development, Enterprise Gaming at Caesars Entertainment Corp
Agenda
- Key trends and developments in the betting trade industry, including TAM scenarios
- Caesars' (NASDAQ: CZR) positioning in US sports betting in light of its acquisition of online operator William Hill – potential market share scenarios and Caesars’ customer acquisition programme
- Regulatory expectations across states, including New York as a potential wild card
Questions
1.
How big do you expect land-based gaming to be once online gaming is at maturity?
2.
How big do you think online or virtual gaming could be at maturity? You mentioned that online sports betting could get to USD 12bn-18bn. What are some potential best- or worst-case scenarios? How accurate should we consider estimates of around USD 45bn?
3.
Can you give examples of the challenges that might preclude iGaming from growing at the same pace as sports betting?
4.
Could you estimate DraftKings’ market share vs FanDuel or other US players?
5.
What do you think are the merits and drawbacks of Caesars’ April 2021 acquisition of William Hill?
6.
How close do you think Caesars can get to the leading players’ product split between content and retention for sports and casino?
7.
What do you think is the path to market share gains? Does it rest on these players’ willingness to spend and lose or is it about media presence? We’ve had both scenarios, considering Penn’s August 2021 agreement to acquire theScore in Canada.
8.
How would you grade the Caesars-William Hill tech stack vs other players’ tech stacks?
9.
Do you think Caesars is behind the curve vs other operators? Some estimate the company to have a low market share, but assuming it aims to reach around 30% if we consider its USD 1bn customer acquisition programme over the next 2.5 years. Do you think that is attainable, given other players’ leads?
10.
How can Caesars hit the 5-10% market share you expect on the sports betting side? What are the potential risks or downsides?
11.
How much competition is sitting on the sidelines and waiting to invest significant marketing dollars? What might be the appetite at Caesars? Which other groups do you expect to enter that haven’t already?
12.
We know that Caesars aims to divest William Hill’s non-domestic assets. What could the business be worth and who might the natural buyers be?
13.
What online portfolio gaps might Caesars try to fill via potential M&A?
14.
How might larger states regulate the sports betting market over the next year, particularly New York or any others that might do a better job of extracting profits from operators?
