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Jefferies expects gaming-sector trends to stabilise in 2025

Business

Jefferies analyst David Katz said gaming-sector trends could stabilise in 2025 after December weakness in foot traffic, app downloads and social-media engagement. He reported that Churchill Downs’ foot traffic rose 14% year over year, while DraftKings app downloads fell 29%; Jefferies also raised its US total addressable market estimate to $50bn by 2030 from $37.5bn.

The analyst’s outlook and figures inform investors assessing gaming companies’ growth prospects and operational trends.

End-of-day close Churchill Downs (CHDN), USD, to 6 March 2025
Story date6 December 20246 March 2025

Related company prices

Latest reported results

Churchill Downs NASDAQ: CHDN

Quarter ended 30 September 2026

Revenue
USD 696.0m10-Q filing 0000020212-26-000084
Operating income
USD 143.0m10-Q filing 0000020212-26-000084

DraftKings NASDAQ: DKNG

Quarter ended 30 September 2026

Revenue
USD 1.33bn10-Q filing 0001883685-26-000041
Operating income
−USD 493.1m10-Q filing 0001883685-26-000041

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