Summary
FLUT Chart
Sports Betting Stock Benched on Disappointing Guidance
Sports betting stock Flutter Entertainment PLC (NYSE:FLUT) is falling sharply today, last seen down 8.8% at $213.87, after mixed third-quarter results.
Flutter Q3: FanDuel's Prediction Market Entry Builds Upside (Rating Upgrade)
Flutter Entertainment plc is entering the prediction market with FanDuel Predicts, competing with Kalshi and Polymarket and increasing the brand's market access. Flutter's iGaming performance remained very strong in Q3, led by market share gains in the U.S. and strong growth internationally. FanDuel's sports betting market share saw pressure from tightening competition, and adverse NFL results further pressured earnings. Flutter has responded by increasing investments in Q4.
Flutter Entertainment Shares Slip on Guidance Cut
The lower full-year outlook reflects a step-up in investment in sports and prediction markets, a tax cost relating to the Illinois wager fee, and changes to regulations in India.
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Flutter Entertainment plc Profile
| Gambling, Resorts & Casinos Industry | Consumer Cyclical Sector | Jeremy Peter Jackson CEO | NYSE Exchange | IE00BWT6H894 ISIN |
| IE Country | 27,345 Employees | - Last Dividend | 1 May 2020 Last Split | - IPO Date |
Overview
Flutter Entertainment plc is a prominent player in the sports betting and gaming industry, operating extensively across various international markets including the United Kingdom, Ireland, Australia, the United States, Italy, among others. The company, which has gone through a name change from Paddy Power Betfair plc to Flutter Entertainment plc in 2019, showcases a rich history since its inception in 1958. Flutter Entertainment is structured into four key segments: UK & Ireland, Australia, International, and US, reflecting its broad geographical footprint and diverse market focus. Headquartered in Dublin, Ireland, the company has grown to offer a wide array of betting, gaming, and entertainment products and services under several renowned brands, catering to a vast customer base worldwide.
Products and Services
The portfolio of Flutter Entertainment plc spans a comprehensive range of sports betting, gaming, and related services, detailed as follows:
- Sports Betting & iGaming: Offers a wide variety of sports betting options across different markets, including daily fantasy sports, online racing wagering, and TV broadcasting products. It encompasses traditional sportsbooks as well as exchange sports betting, catering to diverse betting preferences.
- Online Poker, Casino, and Rummy: Provides customers with engaging online gaming experiences, including poker, casino games, and rummy, satisfying various tastes in card games and casino entertainment.
- Online Sports Betting: Delivers a comprehensive online platform for sports betting enthusiasts, enabling bets across a multitude of sports events internationally.
- Brands and Websites: The company operates multiple leading websites under various brands including FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, MaxBet, TVG, Stardust, Junglee Games, and Adjarabet. These brands cover a broad spectrum of betting and gaming services, ensuring Flutter Entertainment’s strong presence in the digital landscape.
- Live Poker Tours and Events: Apart from digital offerings, Flutter Entertainment also organizes live poker tours and events under its PokerStars brand, providing a platform for poker enthusiasts to engage in competitive tournaments.
Contact Information
