IGT Says Recently Renewed Multi-year Retail Sports Betting Agreement With FanDuel, An Operating Unit Within Flutter Entertainment
Portfolio Pulse from Benzinga Newsdesk
IGT has renewed its multi-year agreement with FanDuel, a unit of Flutter Entertainment, to continue as the exclusive retail sports betting platform provider for FanDuel's sportsbooks in North America for four more years starting September 2024.
September 26, 2024 | 8:33 pm
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NEUTRAL IMPACT
Flutter Entertainment's unit, FanDuel, has renewed its agreement with IGT, ensuring continued access to IGT's retail sports betting platform for four more years.
While the agreement secures FanDuel's operational capabilities in retail sports betting, the direct impact on Flutter's stock is less pronounced as it is one of many factors influencing the company's performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
IGT has secured a four-year extension as the exclusive retail sports betting platform provider for FanDuel's sportsbooks in North America, reinforcing its position in the sports betting market.
The renewal of the agreement with FanDuel ensures IGT's continued presence and revenue stream in the growing North American sports betting market, which is likely to positively impact its stock price.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90