DraftKings' Exploration of Prediction Markets and Regulatory Engagement
DraftKings is actively exploring prediction markets as a way to enhance shareholder value, with ongoing evaluations of regulatory and stakeholder relationships.
Management emphasized the importance of owning their own technology stack for prediction markets, though detailed plans are still under consideration.
The company is monitoring federal regulation developments and is engaging with policymakers to shape future opportunities in prediction markets.
DraftKings sees prediction markets as a nascent but potentially significant growth area, with discussions at an early stage and no definitive launch plans yet.
Leadership highlighted the strategic importance of being a first mover in prediction markets, balancing timing with regulatory and technological considerations.
Acushnet Holdings reported Q2 2025 worldwide net sales of $720 million, a 5% increase year-over-year, driven by strength in Golf Equipment and Gear segments.
Adjusted EBITDA for Q2 was $143 million, up $12 million from the prior year, reflecting a 9% year-over-year increase.
Capital expenditures for the first half were $25 million, with full-year guidance lowered to approximately $70 million from $85 million.
Effective tax rate improved to 19.9% in Q2 from 23.2% last year, driven by jurisdictional mix changes.
For the first half of 2025, net sales increased 3% to $1.42 billion, while adjusted EBITDA decreased 1% to $282 million, in line with expectations due to investments in innovation and technology.
Gross profit in Q2 was $354 million, up $21 million from 2024, with gross margin improving by 40 basis points to 49.2%.
Interest expense rose to $15 million in Q2, up $1 million due to increased borrowings.
Inventories increased 11% compared to Q2 2024, reflecting inventory build ahead of tariff deadlines and new product launches.
Returned $154 million to shareholders through $125 million in share repurchases and $29 million in dividends.
SG&A expenses increased by $14 million in Q2, including $6.4 million in restructuring costs related to a voluntary bridge to retirement program.