Casino stock Flutter Entertainment PLC (NYSE:FLUT) is trading at new record highs after Goldman Sachs initiated coverage with a "buy" rating.
High-profile investors including Dan Loeb have flocked to Flutter Entertainment, the Irish gambling company that is the main owner of FanDuel and moved its primary listing to the U.S. in May.
Shares of Flutter Entertainment (FLUT) traded at an all-time high Wednesday as the parent of sports gambling site FanDuel beat revenue estimates and boosted its guidance as it benefited from demand for wagering on National Football League games.
Flutter Entertainment plc (NYSE:FLUT ) Q3 2024 Earnings Call Transcript November 12, 2024 4:30 PM ET Company Participants Paul Tymms - Director of IR Peter Jackson - CEO Rob Coldrake - CFO Conference Call Participants Ed Young - Morgan Stanley Jordan Bender - Citizens JMP Jed Kelly - Oppenheimer Bernie McTernan - Needham & Company Paul Ruddy - Davy Brandt Montour - Barclays Ryan Sigdahl - Craig-Hallum Capital Group Dan Politzer - Wells Fargo Robert Fishman - MoffettNathanson Clark Lampen - BTIG Joe Stauff - Susquehanna John DeCree - CBRE Adrien de Saint Hilaire - Bank of America Robin Farley - UBS Operator Good afternoon and welcome to the Flutter Q3 Trading Update, hosted by CEO, Peter Jackson, and CFO, Rob Coldrake. Please note, this conference call is being recorded.
FLUT has all the earmarks of the first blue-chip stock in the sports betting sector. No, it's not Coke, but it checks many boxes. Recent headwinds are diminished, with no others in sight. Its multi-brand skins are a sound business model for the future.
The online gambling industry has become a lucrative area for investors to invest their money in. This is so as it keeps growing.
FLUT's strong revenue growth, driven by FanDuel and expanding markets, positions it for continued top-line expansion, potentially reaching $20 billion by FY 2028. Operational improvements and margin expansion are expected to boost profitability, with operating margins projected to grow significantly, enhancing shareholder returns. Despite FLUT's breakeven status over the last twelve months, the company's future growth potential makes it an attractive investment.
Diamond Sports and FanDuel have reached a naming rights agreement for Diamond Sports' regional sports networks. The agreement will start with the 2024 NHL and NBA seasons and will be long-term, pending Diamond's emergence from bankruptcy, according to a bankruptcy court filing.
Amy Howe, FanDuel CEO, joins CNBC's 'Power Lunch' to discuss FanDuel's continued expansion, how it is adapting to the changing media landscape, and more.
FLUT is experiencing strong momentum, driven by its leadership through FanDuel, which commands nearly 40% of the U.S. sports betting and iGaming market.
The US sports betting industry has exploded in recent years, with platforms like FanDuel leading the charge. As the NFL season kicks off, Peter Jackson, CEO of Flutter (FLUT) (FanDuel's parent company), joins Yahoo Finance reporter Josh Schafer to discuss the business and its remarkable growth.
iGaming and fantasy sports giant Flutter Entertainment held its Investor Day today. It outlined robust above-industry growth and margin expansion through 2027.