Flutter a mixed bag but trajectory remains upwards, analysts say
"A US listing makes increasing sense given the strong growth of FanDuel"
Company
Flutter Entertainment PLC
LON:FLTR
Flutter Entertainment plc is a global sports betting, gaming and entertainment provider headquartered in Dublin. The group operates the Paddy Power, betfair, and Fanduel brands along with others.
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Flutter drawn to US markets amid inviting prospects
Flutter has likely been drawn to the US amid its markets' promise of greater exposure to some 27% of the world's consumer market
Flutter Entertainment becomes the latest to mull a listing in the US
Benefits include access to much deeper capital markets and important US indices
FanDuel and DraftKings’ supercharged growth explained
As punters will tell you, it’s a seamless transition from daily fantasy to actual betting
Flutter Entertainment raises US guidance but expects £280mln charge from rising debt costs
The world's largest online betting firm said third-quarter revenues rose 22% to £1,891mln including US growth of 82%, with full-year revenues in the US unit now expected to be between £2.45bn to £2.65bn (up from previous guidance of £2.3bn
Flutter Entertainment value underlined by Fox ruling, says broker
Flutter issues a trading update on Wednesday and the broker expects another strong performance for FanDuel
Flutter Entertainment claims victory in legal battle with Fox over FanDuel
The betting company, which owns Paddy Power and Betfair, said a US ruling had valued FanDuel at US$20bn as at December 2020 using fair market value, a price which is subject to a 5% increase up until Fox exercises any option to buy a holdin
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FTSE 100 closes in red on quiet start to week
The UK's top share index finished down around 31 points, or 0.48%, at 7,299
Flutter Entertainment nabs Paul Edgecliffe-Johnson from IHG in CFO reshuffle
Flutter’s current CFO Jonathan Hill will take up the newly created role of group chief operating officer
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Market Movers: ASOS bounces as it agrees new banking facility
A look at some risers and fallers on the market today.
Flutter follows Entain’s suit in brushing off losses
Until recently, online gaming and sports betting had been illegal in the States
Flutter upbeat over FanDuel progress despite heavy cost
Revenues for the half year rose 11% to £3.4bn though there were mixed performances elsewhere around the world
UK government gambling white paper may not be as bad as feared, says ShoreCap
Analysts say Flutter, Entain and 888 may avoid the biggest impact
Flutter upgraded to a buy as is it closes in on Sisal acquisition
The £1.6bn deal was initially announced in December and since then, the global financial economy has collapsed
UK gambling review is incoming but US is the key for Entain and Flutter, brokers say
The UK Gambling Act review should "act as a meaningful positive catalyst...as investors are provided with much needed certainty," said analysts at Citigroup
Flutter Entertainment's US growth impresses, offsetting reverses elsewhere
The US-based FanDuel accounted for over half of all stakes for the entire group in the quarter
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Hefty US Fed hike expected, with US angles for Flutter and Boohoo too
Other companies with results out include Aston Martin Lagonda, e-Therapeutics, Direct Line Insurance and OSB
Sky Vegas gets £1.2mln fine for enticing recovering gambling addicts with free spins
888 Casino was fined £9.4mln last week for allowing customers to accumulate huge debt and losses during the pandemic, while Bet Victor was given a £2mln penalty last month for failures in fairness, money-laundering controls, and social resp
"Virtue signalling" Flutter can't hide from poor results - analyst
Freetrade's Gemma Boothroyd said the company's Positive Impact Plan was meant to distract from a dwindling UK market
Flutter in the gutter as initiatives on safer gambling prove no substitute for increased profits
Shares in Flutter slumped on Tuesday morning, taking Entain shares down with them, as the bookie said it had been a challenging final quarter of the year
Flutter Entertainment grows revenues and customers as expansion adds to losses
Recreational customers up 23% as group makes in-roads into massive US market
Flutter Entertainment announces sustainability strategy
Flutter Entertainment's Positive Impact plan targets three key areas: Helping customers to play well, empowering colleagues to work better, and partnering with communities to do more.
Super Bowl: a betting offer you can't refuse
The majority of states in the USA now allow betting on sport(s) without having to visit a casino or a race-track
Citi says ‘buy’ bookies Flutter and Entain for American angle
It expects Flutter Entertainment PLC and Entain PLC’s dominance to continue, while Evolution Gaming Group AB ADR’s product quality will further drive its strong US positioning
Flutter Entertainment boosts Italian presence with €1.9bn purchase of online gaming operator Sisal
"I am delighted to add Sisal, Italy's leading gaming brand, to the group as we look to attain a gold medal position in the Italian market,” said Flutter chief executive Peter Jackson
Flutter Entertainment ‘undervalued’ even though catalysts are hard to find - broker
The market is taking a tougher view on US earnings for online bookies, nevertheless Peel Hunt sticks with a 'buy' rating.
Flutter Entertainment buys online bingo operator Tombola for £402mln
Tombola will diversify Flutter's product offering and enhance its online gaming presence in its core UK market
Fanduel is poorly valued under Flutter Entertainment in London - broker
On a standalone basis Fanduel would command a premium valuation in America, according to Jefferies.
Flutter Entertainment pullback is a buying opportunity - Berenberg
“Flutter has always ticked all our key boxes: geographic diversification, scale and a strong presence in the lucrative US market”
Flutter profits knocked down by Tyson Fury and Champions League favourites
It blamed the blow on ‘unfavourable’ and ‘customer friendly’ sporting results
Flutter Entertainment takes £60mln hit as punters prove victorious in Q3
Whilst results went against the bookie (this time) across Flutter's businesses user numbers are up, and significantly, in the United States, the FanDuel brand lead an 85% jump in revenue.
Flutter Entertainment names Amy Howe as new chief executive of FanDuel
The key appointment comes as daily fantasy betting rival DraftKings is wrestling to buy Ladbrokes owner Entain
Flutter Entertainment settles US legal dispute with US$200mln payment
Gamblers have moved to online platforms during the pandemic and Sportsbet managed to retain the new customers
Flutter Entertainment in play with FanDuel as the main prize
Taking a punt on a US fantasy sport company has paid off handsomely for Flutter. Now, people in the Square Mile are wondering whether a US company will take a punt on Flutter
Flutter Entertainment is building investor confidence says Peel Hunt
Stockbrokers Peel Hunt and Shore Capital were positive on Flutter after its first half results.
Flutter Entertainment shares rise as first half exceeds expectations
The return of a 'normal' sporting calendar and acquisitions helped the gambling conglomerate lift first-half revenues significantly
Builders and building materials
Will Abrdn be successful in cutting costs as well as vowels?
Other results and updates are expected from Bellway, Gamesys, Intercontinental Hotels, IWG and M&G
Flutter Entertainment flipped to ‘buy’ after share price drop
The stockbroker reckons the Paddy Power parent is worth buying ‘on share price weakness’.
Flutter Entertainment to stall FanDuel IPO - reports
The Paddy Power owner has been planning the float for the business which has a management change in the coming weeks.
Flutter Entertainment: FanDuel boss Matt King signals exit
King's departure comes three years after his US sports gaming business was acquired by Flutter.
Flutter cashes in on online gambling boom
In a trading update for the first quarter of 2021, the owner of Paddy Power and Betfair reported revenues of £1.48bn, up 32% year-on-year, almost all of which originated from its online operation which saw revenues surge 41%
Entain favoured over Flutter as RBC ups price targets for bookmakers
“Entain's US performance continues to accelerate," RBC highlighted in a note.
Rupert Murdoch’s Fox sues Flutter Entertainment over FanDuel stake
Fox argues that it should be able to buy its stake for the same amount as Flutter, which disagrees
Flutter Entertainment loses Kentucky derby rematch
Flutter remains confident that any amount ultimately paid to resolve this matter will be a limited portion of the reinstated judgment.
Flutter flies higher as it mulls FanDuel listing
The Paddy Power and Betfair owner said it is considering a listing of a "small shareholding" of the US betting business
Flutter Entertainment enjoys online betting boom but German tax could make market unviable
Meanwhile, store closures in UK and Ireland are costing £9mln per month
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Supermarkets and the first of the week's bookies and housebuilders in focus on Tuesday
Flutter Entertainment, Taylor Wimpey and Ashtead are among the companies scheduled to be reporting on Tuesday
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FTSE 100 cements triple-digit gain as Wall Street surges higher
The UK's blue chip index was supported by a soaring Wall Street as Dow Jones climbs by more than 600 points
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UK Budget to dominate coming week alongside US non-farms; results eyed from insurers, bookmakers and housebuilders
Chancellor of the Exchequer Rishi Sunak will step up to the dispatch box on Wednesday to deliver hotly-anticipated spending plans for the UK's post-COVID recovery
Bookmakers' UK online revenue could fall sharply if affordability measures introduced, says broker
Conclusions to the new UK government consultation are expected in summer 2021
Flutter Entertainment hit with US$1.3bn penalty by Kentucky Supreme Court
The case related to Canada's The Stars Group before the Paddy Power and Betfair owner acquired it earlier this year
Flutter Entertainment raises £1.1bn to raise stake in FanDuel
The bookmaker is looking to ‘convert’ FanDuel's sports enthusiasts into real money gamblers
Flutter Entertainment agrees early FanDuel buy-out for US$4.17bn
“Our intention has always been to increase our stake in the business and I'm delighted to be able to do so earlier than originally planned and at a discount to its closest peer," said Peter Jackson.
Flutter rejigs guidance after sealing number-one position in US sports betting
For the past quarter, Flutter generated £1.33bn of total revenue, up 27% on a pro forma basis on this time last year
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Flutter and Wetherspoon's updates key news for Wednesday
Investors may also be keeping an eye on an update from drinks bottler Coca-Cola HBC as well as interim results from Great Portland Estates
Flutter downgraded by Peel Hunt on strong share price performance, GVC and 888 targets hiked as broker assesses US market opportunity
The broker said if the Paddy Power owner's 58%-owned US business can achieve a 27% market share in the country it could result in EBITDA of US$664mln
Flutter moved to sector perform by RBC following strong share price run, William Hill target cut to Caesars bid price
The Canadian bank said Flutter's merger with Canadian gambling firm The Stars Group has catapulted the company “into becoming a more diversified, global-scale player”
Flutter upgraded as Barclays says Sky Bet brand leading UK online betting market
“We consider online strength to be a key driver of medium-term online staking growth from new and existing customers, particularly in a [coronavirus] world and our survey indicates that Flutter brands are best-placed to benefit”, the bank s
Flutter Entertainment expects small full-year loss in US but encouraged by post-lockdown trading
The rest of the group is forecast to deliver underlying earnings of £1.1-1.3bn for the year to December
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Flutter, Rolls-Royce and WPP are next to reveal extent of lockdown impacts
Investors will hope to find reassurance as more London blue-chips report half yearly results on Thursday.
Bookies boost after betting shops reopen ready for Ascot and Premier League
Betting shops opened yesterday, Royal Ascot got underway today, and Premier League football returns tomorrow.
Flutter Entertainment - City stockbroker no longer betting against Paddy Power and Fan Duel owner
Stockbroker Peel Hunt moves to 'hold' from 'reduce' following the bookies' £800mln equity raise.
Flutter raises cash as US and Australia racing revenues offset UK betting slump
The betting and gaming group expects one consequence of the coronavirus pandemic will be an acceleration in US states legalising gambling to raise tax receipts
Should investors punt on bookies as Bundesliga restart promises sports betting boost?
An audience of billions is expected to watch Bundesliga matches this weekend,
Flutter knocked to ‘sell’ as Citi predicts online betting and gaming will suffer from prolonged lockdown
The investment bank said they had based their cash burn forecasts on revenue falls of up to 65% for gambling operators
Flutter flies higher as revenues tumble 'only 32%' since UK and Irish horseracing suspension
In the group's US business, sports revenues declined 46% but were offset by a 200% surge in online gaming
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FTSE 100 closes in the green as UK braces for economic data next week
The UK jobless claims for March come on Tuesday, as well as April’s flash manufacturing and services PMIs on Thursday
Rio Tinto and Flutter updates and key China data set agenda for Friday
There should also be a statement from Man Group, with the hedge funds manager having been tipped as one of the best performers in the wider financial sector
Flutter Entertainment gets Stars greenlight from CMA, completion of merger may be delayed by coronavirus
Flutter and Stars agreed an all-share merger in October that, if completed, will create the world’s largest online betting and gaming operator.
Bookmakers eyes painful monthly losses from sports shutdown
If horse racing continues and football restarts by the end of the summer, the Paddy Power owner expects just a £90-110mln reduction in profits
Bookies battered as Premier League joins wave of coronavirus cancellations
Spanish football authorities on Thursday cancelled La Liga games for at least the next two weeks, while tennis authorities are under pressure from players to shut down pro tours until May
Paddy Power owner Flutter sets sights on Euro 2020 as profits slump amid UK tax hit
Flutter shares dropped just over 3% in Thursday morning's deals.
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Flutter, British American Tobacco, Persimmon and WPP in spotlight as Blue-chip results season continues
Paddy Power's Flutter, BATS, Persimmon, WPP and Aston Martin are all among the notable entries in Thursday's diary.
Flutter merger with Stars Group receives approval from Australian regulators
The Australian Competition and Consumer Commission had granted informal approval for the combination, which will now await the green light from the country's Foreign Investment Review Board
Flutter's merger with Canada's Stars faces UK competition probe
The Competition and Markets Authority will decide by 31 March whether or not to refer the merger to a deeper ‘Phase 2’ investigation
Flutter ups US guidance but European sales flat
Total group revenues were up 10% to £533mln in the third quarter, including acquisitions
Flutter merger with Stars Group offers “unparalleled opportunity” says RBC, however GVC remains top pick in gambling sector
In a sector note, the Canadian bank said Flutter's tie-up had a "high chance" of completing, with the new entity estimated by some to be worth at least £10bn
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GVC can't avoid regulation worries, Fed minutes eyed
The question is whether chair Jerome Powell will succumb to pressure from President Trump for another rate cut, which would be the third this year
Flutter agrees PokerStars merger to become world’s largest online gaming operator
Approval of both companies’ shareholders is expected in the second quarter of 2020
Flutter Entertainment's US fantasy sports business FanDuel partners up with Major League Baseball
Flutter Entertainment, which was spun out of the merger of Betfair and Paddy Power, bought FanDuel last year as part of its US expansion plan
Flutter Entertainment profit hit by UK machine changes but US shows potential
Underlying earnings fell 10% but if new taxes and duties in the period were ignored, EBITDA was up 15%