What’s On Tap: Hall Of Fame Game, DraftKings Q2 Earnings, And Paris Games
Regulation · 2024-07-29

What’s On Tap: Hall Of Fame Game, DraftKings Q2 Earnings, And Paris Games

Each week, our “What’s on Tap” series previews the week ahead in the world of sports betting. Come here for a summary of upcoming financial happenings, legislative and regulatory meetings, industry conferences, top games scheduled for the week, and much more.

As Tuesday’s MLB trade deadline nears, arguably the hottest name on the market is Tarik Skubal. As of Monday, Skubal is tied for second in wins with 12, while boasting a sparkling ERA of 2.35. It’s no wonder that the Tigers’ pitcher has been highly coveted by leading contenders.

Among World Series contenders, the Orioles, Dodgers, and Yankees have all been rumored as leading suitors to acquire Skubal. The Dodgers remain the World Series favorites at bet365 with odds of +275. The Phillies are the second choice at +500, ahead of the Orioles and the Yankees. The two AL East foes each have odds of +700 on the site.

When MGM Resorts holds a quarterly earnings call on Wednesday, analysts are expected to inquire on the company’s future plans for BetMGM. Last week, Entain named Gavin Isaacs as CEO, replacing Stella David, who served in an interim capacity. BetMGM is a 50-50 joint venture, owned equally by MGM Resorts and Entain.

The appointment of Isaacs could factor into whether MGM Resorts makes a renewed bid to acquire BetMGM. MGM Resorts has the option of buying out Entain’s stake or making an attempt to takeover Entain in full. When MGM Resorts made an $11 billion bid to acquire Entain in 2021, Entain rejected the bid on the basis that it substantially undervalued the company. Caesars Entertainment, MGM’s main rival, will report earnings on Tuesday.

— Entain (@EntainGroup) July 22, 2024

Despite a series of unfavorable sports outcomes in the first quarter, DraftKings projected full-year 2024 Adjusted EBITDA in the range of $460 million to $540 million. The guidance represented a stark improvement from a prior outlook in the range of $410 million and $510 million. DraftKings is expected to provide an update on its full-year projections when the company releases quarterly earnings on Thursday.

Ahead of earnings, Bank of America expects DraftKings to report second-quarter EBITDA of $130 million, slightly below guidance of $150 million. As DraftKings releases earnings, keep an eye on operator hold percentage over the last three months. According to Eilers & Krejcik Gaming, DraftKings ranked second in OSB hold last month at 9.26%. Among major operators, only FanDuel ranked higher with a hold of 9.39%.

The NFL Preseason will open on Thursday when the Bears take on the Texans in the Pro Football Hall of Fame Game. The contest could feature a matchup between Caleb Williams of the Bears and C.J. Stroud of the Texans. As of Monday, Bears coach Matt Eberflus has not announced if Williams will play in the opener.

Williams, the top pick in the 2024 NFL Draft, is an overwhelming favorite at multiple sites to win Rookie of the Year. FanDuel has installed Williams as the +140 favorite, ahead of Jayden Daniels and Marvin Harrison Jr. at +650 and +750 respectively. The Bears added weapons for Williams this offseason by taking former University of Washington standout Rome Odunze with the No. 9 pick in the Draft. Chicago also acquired six-time Pro Bowl wideout Keenan Allen from the Chargers.

It's Caleb Williams' to lose – but who do you think could take it from him?#NFL #bettingodds #Rookies pic.twitter.com/0XdkViHQma

— SportsGrid (@SportsGrid) July 26, 2024

On Sunday, Noah Lyles will begin his pursuit of a 100-200 double in Paris. Lyles, the defending world champion in the 100 meters, is favored in the 100-meter finals on Sunday night. Lyles has odds of -120 at DraftKings, slightly ahead of Jamaica’s Kishane Thompson (+120). The two sprinters may engage in a match race. No one else in the field has single-digit odds for Sunday’s final.

On the women’s side, Sha’Carri Richardson will also compete for gold in the 100 on Sunday. Richardson missed the Tokyo Games due to suspension. But Richardson emerged as the favorite after winning gold at last year’s World Championships with a record time of 10.65 seconds. Richardson has odds of -250 at DraftKings, far ahead of Shericka Jackson and Julien Alfred, at +400 and +500 respectively.

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