Earnings GuidanceNew FY25E EBITDA guidance is -12% behind consensus at the midpoint, impacted by new Brazil taxation and potential player churn in the now regulated market.
Market UncertaintyNorth America remains an area of uncertainty with a slowdown in partner marketing activity and market share concentration that makes the market less attractive for BETCO.
Revenue HeadwindsThe transition of Brazil's market to regulation is expected to create a significant revenue headwind due to increased taxation and player churn, resulting in potentially halved revenues in FY25E.