European And Global Revenue ChallengesEurope and Rest of the World revenues were down 13%, affected by Brazilian market regulation and competition from Euros/Copa.
Market Uncertainty And Guidance RevisionsRecommendation downgraded to Hold due to reduced FY25E estimates, medium-term guidance revisions, and uncertainty in two core markets.
North America Revenue DeclineNorth America revenues decreased by 30% due to a tough North Carolina launch comparison and lower operator marketing spend.