Flutter Entertainment plc (FLUT) recently experienced a sharp increase in its stock price. Over the past month, the company's shares have gained 9.7%, outpacing the industry's gain of 7.3%. FLUT has also outshined the S&P 500 and the Zacks Consumer Discretionary sector's increase of 3.6% and 5.7%, respectively. With its strong momentum, FLUT has firmly established itself as a standout performer, showcasing its resilience and growth potential against market benchmarks. As of Wednesday, the stock closed at $2 ...

Donation comes after this year's launch of mobile sports betting in the state and marks the fourth $1 million FanDuel donation to UNCF NEW YORK, Oct. 1, 2024 /PRNewswire/ -- FanDuel, the premier online gaming company in North America, today announced a fourth $1 million donation supporting the UNCF (United Negro College Fund) whose mission is to build a robust and nationally recognized pipeline of under-represented students who, because of UNCF support, become highly qualified college graduates. The donatio ...

The online gaming giant announced a big share repurchase program and gave long-term growth guidance to 2027. Online gambling giant Flutter Entertainment (FLUT 5.57%) rallied 6.5% on Wednesday as of 1:24 p.m. ET. You may know Flutter as the parent company of FanDuel, which is a popular U.S. fantasy sports site. However, the company also has physical sportsbook properties across the U.S., Ireland and the U.K., Australia, and other geographies, as well as platforms for online betting and casino games, known as ...

Core Viewpoint - Flutter Entertainment is positioned for growth in the online sports betting market, with a strong market share and significant opportunities, particularly in the U.S. market, which is expected to drive earnings growth [1][2]. Group 1: Market Position and Growth Potential - Flutter's leadership in the U.S. online sports betting market is projected to contribute to a 25% global adjusted EBITDA compound annual growth rate (CAGR) over the next three years [2]. - The total addressable market (TAM) for online sports betting in the U.S. is anticipated to exceed previous expectations, with the U.S. accounting for nearly 75% of the asset value in Needham's sum of the parts analysis [2][5]. - FanDuel, owned by Flutter, has demonstrated strong revenue and customer growth, maintaining a near duopoly with DraftKings in the U.S. online sports betting market [3]. Group 2: Competitive Landscape - FanDuel and DraftKings together hold a combined market share of 73% in 2023, with FanDuel at 37.8% and DraftKings at 34.8% [5]. - In the second quarter of 2024, FanDuel's market share was 37.3%, slightly ahead of DraftKings at 37.0%, while competitors like BetMGM and Caesars saw lower market shares compared to 2023 [6]. - The competitive dynamics suggest that unless there is a significant change in market structure, FanDuel and DraftKings will continue to dominate the market [5]. Group 3: Future Outlook - An upcoming Flutter Investor Day on September 25 is expected to provide further insights into the total addressable market size and EBITDA goals for the company [4]. - The potential for earnings growth is significant for operators that can consolidate market share in the expanding U.S. online sports betting market [5].

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, September 20th: Stock Yards Bancorp (SYBT) This bank holding company which provides banking, trust, investment management, private banking, and brokerage services, has a Zacks Rank #1(Strong Buy), and witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.0% over the last 60 days. Stock Yards Bancorp's shares gained 36.7% over the last three month compared with the S&P 500's ga ...

People walk by a banner outside of the New York Stock Exchange for the initial public offering of Flutter Entertainment, the parent company of FanDuel, on Jan. 29, 2024. FanDuel parent Flutter Entertainment will spend $2.6 billion (2.3 billion euros) to acquire Italian gambling company Snaitech from Playtech, adding to a string of deals that aim to boost international growth. In an email to CNBC, a Flutter spokesperson said the company is "hugely excited" to add another leading brand to its portfolio "in wh ...

Core Insights - Flutter Entertainment is acquiring Snaitech, a major online gambling company in Italy, for 2.3 billion euros ($2.56 billion) [1][3][4] - The acquisition will enhance Flutter's presence in Italy, which is Europe's largest gambling market with a gross revenue of 21 billion euros in 2023 [3] - The deal is expected to close in the second quarter of next year and will provide Flutter with an estimated 30% share of Italy's online gaming market [3][4] Strategic and Financial Implications - Flutter's CEO described the acquisition as strategically and financially compelling, aligning with the company's value-creating M&A strategy [4] - The acquisition is anticipated to accelerate Snaitech's growth by leveraging Flutter's market-leading products and capabilities [4] - Following the deal, Snaitech's parent company, Playtech, plans to return 1.7 billion to 1.8 billion euros to shareholders through a special dividend [4] Market Performance - Flutter's shares have increased by 25% this year, reflecting positive market sentiment following the announcement of the acquisition [5]

NEW YORK, Sept. 16, 2024 /PRNewswire/ -- FanDuel, North America's premier online gaming company, announced it has appointed Caralyn Cooley as the company's new Chief People Officer (CPO). Cooley will join FanDuel's Executive Leadership Team (ELT) reporting to CEO Amy Howe. In her role as CPO, Cooley will be responsible for the continued acceleration of FanDuel's people strategy reflecting the company's extraordinary growth trajectory. Cooley joins FanDuel as a seasoned multi-time CPO, with deep experience s ...

Core Insights - Flutter Entertainment and DraftKings dominate the US sports betting market, controlling between 68% and 72% of the sector, with FanDuel leading at 35% market share and DraftKings at 32% [4][6][5] - The sports betting industry is characterized by low margins and high competition, leading to significant promotional spending, but efforts to reduce these costs are underway to improve profitability [5][6] - Flutter Entertainment has turned profitable in 2023, moving from a loss of $711 million to a profit of at least $85 million, while DraftKings is also expected to achieve profitability [6][5] Market Dynamics - The total revenue for the US sports betting sector is projected to reach $11.4 billion in 2023, with Flutter and DraftKings expected to generate approximately $3.85 billion to $4 billion combined [6][5] - The average daily users for the two leading companies are estimated to be between 1.8 million to 2 million, with expectations to double by 2029 [6][5] - The NFL season is anticipated to drive significant revenue growth, with heightened interest in matchups and player storylines expected to increase betting volumes [10][11] Financial Performance - Flutter's stock price has seen significant fluctuations, starting the year at $164 and reaching $218, with a low of $88 due to market concerns over tax increases in Illinois [8][12] - The intrinsic value of DraftKings is estimated at $40, indicating it is roughly 13% undervalued, while Flutter is favored for its stability and global presence despite a higher trading price [6][5] - FanDuel's performance has been a major contributor to Flutter's revenue gains, accounting for 37% of the parent company's revenue [6]

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