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It’s one those moment when you look at something and get the impression that something’s wrong. Like you look at the sky and see your web browser on the screen of your computer ;)Inflation progressed towards the Fed’s 2% goal recently, leading the Fed to reduce its policy rate by 50bps (half a percent or 0.5%) in September 2024. This is the first cut in four years. While CPI (inflation) readings have been supportive lately, employment measures have bordered on worrisome. The markets will be debating whether this rate cut’s timing (and more potential ones in 2024 and 2025) is ideal for supporting the economy or a bit too late for a macro that has already cooled too much.

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Brendan Bussmann, the managing partner of B Global, a consulting firm focused on gaming and hospitality, says it’s a good sign that the industry racked up two years of record-setting revenue after getting crushed by the pandemic in 2020. “Not only has the industry bounced back from the pandemic but the industry has expanded,” says Bussmann. “It’s going to continue to percolate and the industry will be in a good position for 2023, regardless of what happens with the economy.”

DraftKings reported revenues of $1.10 billion, casinotice.com up 26.2% year on year. This number was in line with analysts’ expectations. Overall, it was a very strong quarter as it also recorded an impressive beat of analysts’ operating margin estimates and full-year revenue guidance exceeding analysts’ expectations.

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PlayStudios reported revenues of $72.59 million, down 6.7% year on year, falling short of analysts’ expectations by 2.6%. Still, it was a a satisfactory quarter as it posted an impressive beat of analysts’ operating margin estimates.

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