Business
Sportsbook CEOs expect record betting ahead of NFL kickoff
DraftKings CEO Jason Robins has never been more enthusiastic about the kickoff to the NFL — sports betting’s biggest season.
It’s second only to the Super Bowl in terms of importance for acquiring customers and growing the overall betting pool, Robins told CNBC at the Bank of America Gaming and Lodging Conference.
“The numbers just keep going up right into kickoff, and it’ll continue through Sunday,” Robins said. “We’re seeing big numbers, record numbers, and we’re really excited about what we’re going to see through the start of the season.”
The American Gaming Association estimates legal betting in the U.S. will grow by 8.5% this NFL season, to $30 billion.
DraftKings and its competitors have largely seen declines in the costs to acquire customers even as legal sports betting opportunities continue to expand. Sports betting has proven to be resilient even amid volatility in consumer sentiment and broader concerns over discretionary spending.
“We’re seeing nothing to suggest that there’s any slowdown in the numbers for our business right now, everything is going up,” Robins said.
DraftKings beat Wall Street expectations for revenue and profit when it reported second-quarter results in August, surprising investors with significant growth.
BetMGM, jointly owned by MGM Resorts and Entain is also demonstrating real momentum, raising earnings guidance for a second time this year.
BetMGM CEO Adam Greenblatt told CNBC that last week was the sportsbook’s best ever in terms of revenue, with pre-season volume up 30%.
“We’re seeing no softness. We’re seeing no reduction in average bet size. We’re seeing no reduction in how many active sessions per week, per month, that players are engaging with BetMGM,” Greenblatt said when assessing the strength of the American consumer.
“I’m delighted to say that our sector seems to be behaving in a contrarian manner, ” he said.
Greenblatt is especially enthusiastic about the cross-selling opportunities with NFL kickoff. He says 60% of sports bettors will then wager on online casino games, or iGaming, which has higher profit margins than sports betting.
The nation’s leading sportsbooks are facing new competition — as well as potential opportunities — in the form of prediction markets events contracts, where odds change based on trades, like stock prices. Events contracts in the financial markets are regulated by the Commodities and Futures Trading Commission.
Front Office Sports reported in July that DraftKings was in talks to buy Railbird, an exchange that received CFTC approval to begin trading.
Robins declined to comment on the report, but said he’s interested, though cautious, about entering predictions markets.
“We’re regulated in a lot of states, and some states have taken a very adversarial position, so we have to obviously be careful and engage the regulator,” Robins said, adding DraftKings is unwilling to risk any threat to its sports betting licenses.
In August, Flutter-owned FanDuel announced a partnership on financial events contracts with the Chicago Mercantile Exchange. And Underdog, the fantasy and sports gaming company, announced on CNBC Tuesday that it will partner with Crypto.com to offer sports predictions markets. Robinhood, Kalshi and Polymarket are also offering sports trades.
“Rapidly growing volumes, new product launches, especially around player props and parlays, and more clear direct marketing by prediction markets (post recent fundraising) are all key developments to watch for,” said Bank of America research analyst Shaun Kelly.
Investors will also be watching to see how federal courts rule on the pending question of whether sports predictions are in fact a form of sports betting. States and tribes argue it is and that offering sports trades through predictions markets violates tribes’ sovereign rights or states’ rights to legalize sports gambling.
MGM CEO Bill Hornbuckle told the BofA Gaming and Lodging conference Thursday he doesn’t endorse the predictions markets.
“Our view is that invites the federal government into a space it’s never been, and it’s not a place we’d like to see this marketplace go. Full stop,” he said.
The NFL told its employees they are under the same restrictions with regards to sports predictions markets as they are for betting. The league has said it worries about the integrity of the game in the face of the possibility of price distortion and other kinds of manipulation.
Business
PSX gains over 2,500 points as US-Iran peace hopes fuel bullish rally | The Express Tribune
KSE-100 surges past 170,000 intraday on strong institutional buying, easing geopolitical tensions
KARACHI:
The Pakistan Stock Exchange (PSX) extended strong bullish momentum on Monday as the benchmark KSE-100 Index hovered around 170,423.30 points at 1:24pm, up 2,579.06 points or 1.54% in intraday trade.
During the session, the benchmark index touched an intraday high of 171,519.26 points, while the day’s low was recorded at 170,161.66 points. Market participation remained strong, with traded volume reaching 125.96 million shares and total traded value standing at Rs11.75 billion.
Read: PSX gains 2,248 points in mixed week
Investor sentiment remained upbeat amid reports of a likely peace agreement between the United States and Iran, which boosted confidence across regional markets and improved risk appetite among investors.
Analysts said the rally was driven by aggressive institutional buying and renewed optimism over easing geopolitical tensions following progress in US-Iran negotiations.
The previous close of the KSE-100 index was 167,844.24 points.
Trump said on Saturday that an agreement would include the reopening of the Strait of Hormuz, without giving further details.
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UK high streets and shopping destinations are showing signs of recovery as more than 13 retail stores opened each week over the past year, according to new figures.
However, England and Wales have still seen more than 6,000 retail premises vanish from local communities over the past five years.
Analysis of Valuation Office Agency data by tax firm Ryan, found that there were 507,810 retail premises across England and Wales at the end of 2025.
It said the figures showed that a recent contraction across the sector has appeared to stabilise, with a 723 net increase in the number of retail stores compared with a year earlier.
Property numbers increased across every region of England and Wales, with the exception of the North West, which saw a decline of 41.
It suggests that parts of the sector are now beginning to rebalance following significant structural contraction seen since the pandemic.
The creation of new retail units also comes as many retail real estate firms, such as Hammerson, have turned empty large units, often former department stores, into a greater number of smaller units.
Other retail groups, such as John Lewis, have moved away from ambitions to transform some retail property for other uses such as rental accommodation.
Nevertheless, the retail sector is still facing pressure from higher business rates for many firms, increased labour costs and concerns over consumer sentiment.
The data also shows that there has also been significant decline over the past few years, with a net reduction of 6,045 retail properties since the end of 2020.
London recorded the largest five-year regional reduction, with 1,266 retail premises disappearing over the period, followed by the South East (-1,191), North West (-719) and North East (-672).
The figures show retail premises which have permanently disappeared from communities altogether, having either been demolished or converted for alternative use.
The figures come as Ryan’s 2026 annual business rates review highlighted that the retail sector saw a 9.3% increase in rateable values at the 2026 business rates revaluation despite the major shift in the retail landscape since the pandemic.
Alex Probyn, practice leader for Europe and Asia-Pacific property tax at Ryan, said: “The pandemic accelerated structural changes that were already emerging across the retail sector, including changing consumer behaviour, hybrid working patterns and a reduced reliance on traditional retail floorspace in many locations.
“Many locations were arguably over-retailed before Covid and high streets have evolved towards more mixed-use environments, with retail space being rebalanced alongside growing demand for residential, leisure, hospitality and service-led uses.
“The revaluation outcome does suggest a large proportion of retail premises have seen bigger increases in their assessments than underlying market conditions and rental evidence would have led occupiers to expect.
“Retailers should therefore carefully review and, where appropriate, challenge their assessments.”
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