Flutter Entertainment PLC

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Flutter Entertainment Plc engages in the business of online betting and gaming. It operates through the following segments: UK and Ireland, Australia, International, and US. The UK and Ireland segment includes the operations of Sky Betting and Gaming, Paddy Power, Betfair, and tombola. The Australia segment focuses on sports betting services provided to Australian customers online. The International segment relates to poker, casino, rummy, lottery, and sports betting. The US segment includes sports betting, daily fantasy sports, and gaming services. The company was founded in 1988 and is headquartered in New York, NY.

Just as new research showed a worrying skew of gambling losses to more deprived areas of the UK, it is the lure of huge growth in the US that makes shares in FTSE 100 players Flutter Entertainment PLC (LSE:FLTR) and Entain PLC (LSE:ENT) attractive, according to Citigroup and JPMorgan.  The recent sell-off of the gambling sector "provides an attractive entry point" for both Entain and Flutter, Citi said in a note, with JPM also rating both companies positively in a note today.

UK gambling review is incoming but US is the key for Entain and Flutter, brokers say

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Casino REITs have been among the best-performing property sectors this year as the positive tailwinds from the leisure demand recovery have offset inflation headwinds and economic growth concerns. Despite their ultra-long-term triple net lease structures, casino REITs are better protected from inflation than many would presume, making heavy use of CPI-linked escalators and tenant revenue share agreements.

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Flutter Entertainment PLC (LSE:FLTR) grew betting and gaming revenue in the first quarter of 2022 but only thanks to its fast-expanding US business. Group revenue was up 6% to £1.6bn in the three months to end-March, but down 3% if excluding the US, where revenues ramped up 45% to £429mln.

Flutter Entertainment's US growth impresses, offsetting reverses elsewhere

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Flutter Entertainment PLC (LSE:FLTR) grew revenues and customers last year but expansion added to losses over the year. The online gambling company grew revenues by 37% last year to £6.04bn as its recreational customer base rose to over 7.6mln with the US making big leaps in gambling legality.

Flutter Entertainment grows revenues and customers as expansion adds to losses

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The highly anticipated launch of online sports betting kicked off in the state of New York in January. In only three weeks, New York is already breaking records for the sports betting industry.

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As battered-down meme stocks fall out of fashion a year after the craze began, some gaming industry analysts say online sports betting apps could see a flood of new wagers.

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Revenue from online betting in US states has been higher than Citigroup expected, which bodes well for the likes of Entain PLC (LSE:ENT) and Flutter Entertainment PLC (LSE:FLTR). The broker said it is “increasingly bullish on the size of the US prize”.

Flutter upgraded as revenue from online sports betting in US tops Citi's expectations

A booming new betting market in the United States is creating a bigger investment opportunity than first expected, according to Citigroup. The rise in American sports betting follows new legislation that is opening up legal online sports betting.

Citi says ‘buy' bookies Flutter and Entain for American angle

"Until we see fewer promotional deals and more M&A deals, these online sports gambling stocks ... are very difficult to own," the "Mad Money" host said.

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Despite a strong New York gambling app launch, sports betting stocks are down big so far today. What's bringing the betting companies down?

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Flutter Entertainment PLC (LSE:FLTR) announced the acquisition of Sisal, Italy's leading online gaming operator, from CVC Capital Partners Fund VI for €1.913bn (£1.62bn) in a move that gives it a strong position in Europe's second-largest regulated gambling market. The acquisition, which is set to complete in the second quarter of 2022, is expected to be earnings accretive in the first 12 months following completion, Flutter said in a statement.

Flutter Entertainment boosts Italian presence with €1.9bn purchase of online gaming operator Sisal

Online gaming stocks have taken a big hit in recent months, but Bank of America analyst Shaun Kelley said there was a “surge” in U.S. online sports betting (OSB) revenue in November. The Numbers: Total digital gross gaming revenue (GGR) in November was up 25% month-over-month and 129% year-over-year to a $665 million annual run-rate, Kelley said Tuesday.

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Shares of online gambling stocks have tanked in the past two months, and Bank of America analyst Shaun Kelley recently took a closer look at the group to try to determine what has gone wrong in the digital gambling market. MGM Resorts International (NYSE:MGM), Draftkings Inc (NYSE:DKNG) and Flutter Entertainment PLC (OTC:PDYPF) are the three national market share leaders in iGaming, according to Bank of America.

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Flutter Entertainment PLC (LSE:FLTR) is undervalued but catalysts to the upside are hard to find, according to stockbroker Peel Hunt, which today lowers its price target. “Flutter has remarkably successful businesses in the US, and we expect them to continue to thrive,” Peel Hunt analyst Ivor Jones said in a note.

Flutter Entertainment ‘undervalued' even though catalysts are hard to find - broker

When I was younger, it was my dream to own a casino. Gambling and insurance companies seemed to be the two mathematically sure ways of making money.

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In 2018 PASPA was declared unconstitutional and this opened the door for legalizing sports betting. The iGaming industry is expected to grow at a CAGR of 17.3% up until 2026.

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Flutter Entertainment PLC (LSE:FLTR) said it acquired Tombola, one of the UK's leading online bingo operators, for £402mln. Tombola, which is located in Sunderland and Gibraltar, has around 400,000 average monthly players and over 700 employees.

Flutter Entertainment buys online bingo operator Tombola for £402mln

Jefferies has run the numbers on Flutter Entertainment PLC (LSE:FLTR) to reach a conclusion that many investors will have already suspected - the FanDuel US sports betting business is not being valued properly in London. A spin-off and a US IPO was mooted but delayed with the departure of the American unit's CEO earlier this year, and, Jefferies said last month's appointment of Amy Howe as the new FanDuel boss may mean that the IPO may come sooner rather than later.

Fanduel is poorly valued under Flutter Entertainment in London - broker

Flutter Entertainment's CEO laid out the realities, good and challenging, in a forthright manner during his 3Q21 earnings call. Setbacks in the global business compensated for by continuing surge in US sports betting leadership with 42% share of market.

Flutter Entertainment: Parent Of FanDuel Earnings Miss Disguises Upbeat U.S. Numbers

This week's sell-off in Flutter Entertainment PLC (LSE:FLTR) presents an opportunity for investors to pick up a premium share at a discount price, that's according to analysts at Berenberg. Paddy Power parent Flutter shares pulled back after Tuesday's third-quarter results showed profits dented by unfavourable sports results books and suspension in the Netherlands.

News for Flutter Entertainment PLC Stock (PDYPY)