Streetbeat News

FLUT

Flutter Entertainment plc

https://www.flutter.com

Industry

Gambling, Resorts & Casinos

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sportsbooks and exchange sports betting products, daily fantasy sports products, and pari-mutuel betting products; fixed odds games betting products; online games and casinos; lottery; peer-to-peer games, including online bingo, rummy, and poker; and business-to-business services. In addition, the company operates HRTV, a horseracing television network. Further, it provides sports betting and gaming services through paddypower.com, betfair.com, sportsbet.com.au, tvg.com, us.betfair.com, fanduel.com, adjarabet.com, pokerstars.com, Skybet.com, tombola.com, and sisal.com websites under the FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, FOX Bet, TVG, Stardust, Junglee Games, and Adjarabet brands, as well as live poker tours and events. The company was formerly known as Paddy Power Betfair plc and changed its name to Flutter Entertainment plc in 2019. The company was incorporated in 1958 and is headquartered in Dublin, Ireland.

Open

283.45

Mkt cap

49B

Volume

High

283.45

P/E Ratio

-52.01

52-wk high

284.79

Low

275.83

Div yield

N/A

52-wk low

158.43

Flutter Entertainment (NYSE:FLUT) has significantly outperformed the market over the past 5 years, achieving an average annual return of 22.31%. A $1000 investment in FLUT 5 years ago would now be worth $2,736.72. The company currently has a market capitalization of $38.33 billion.

Portfolio Pulse from Benzinga Insights

March 26, 2024 | 8:00 pm

Flutter Entertainment Plc (NYSE:FLUT) shares are up in premarket trading after reporting a 24.6% year-over-year revenue increase to $11.79 billion for FY23. Adjusted EBITDA rose 45.4% to $1.874 billion, with a margin expansion of 230 basis points to 15.9%. The company's strong performance was attributed to its leading position in the US, product innovation, and strong UKI performance. Flutter introduced FY24 guidance with expected revenue growth of 17.5% and adjusted EBITDA growth of 30.2%. FLUT stock has risen over 26% in the past year.

Portfolio Pulse from Nabaparna Bhattacharya

March 26, 2024 | 10:28 am

Flutter Entertainment projects a 17.5% increase in FY24 group revenue and a 30.2% rise in adjusted EBITDA at the midpoint, indicating strong future financial performance.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 10:27 am

Flutter Entertainment announced its FY23 revenue of $11.79 billion, marking a 24.6% increase year-over-year. Adjusted earnings per share also rose by 25.8% to $3.51.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 10:23 am

JP Morgan analyst Estelle Weingrod has upgraded Flutter Entertainment (NYSE:FLUT) from Neutral to Overweight, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 3:46 pm

A growing number of companies are transitioning their primary stock listings from the London Stock Exchange (LSE) to the New York Stock Exchange (NYSE) or Nasdaq, driven by the pursuit of deeper capital markets, greater liquidity, and a larger investor base in the U.S. Notable migrations include Indivior Plc, Ferguson Plc, CRH plc, and Arm Holdings. This trend underscores the challenges facing the LSE, including lower market capitalization and a struggling IPO market compared to the U.S.

Portfolio Pulse from Neil Dennis

February 22, 2024 | 5:16 pm

DraftKings Inc (NASDAQ:DKNG) reported strong Q4 financial results and announced the acquisition of Jackpocket, a move praised by analysts for potential cross-sell opportunities and user base expansion. Analysts from BMO Capital, Stifel, Oppenheimer, Needham, JMP Securities, Truist, and Benchmark provided positive outlooks, raising price targets and highlighting DraftKings' growth prospects, especially in light of new state legalizations and the Jackpocket acquisition. Flutter Entertainment (NYSE:FLUT) was also mentioned as a key competitor in the sports betting sector.

Portfolio Pulse from Chris Katje

February 16, 2024 | 6:01 pm

PENN Entertainment acquired a New York mobile sports wagering license from Wynn Interactive for $25 million, aiming to launch ESPN Bet in New York in 2024. This move is part of a strategy to expand ESPN Bet, rebranded from Barstool Sportsbook, across the U.S. with a licensing agreement with Disney. The New York sports betting market, the largest in North America, saw record revenues, with FanDuel, DraftKings, Caesars Entertainment, and BetMGM leading in January.

Portfolio Pulse from Chris Katje

February 13, 2024 | 6:35 pm

Super Bowl LVIII featured commercials from a wide range of companies, with ad slots priced at around $7 million for 30 seconds. Paramount Global Inc aired the game on CBS, Nickelodeon, and streamed it on Paramount+. The overtime period likely resulted in additional ads. Companies like Keurig Dr Pepper, Intuit, Flutter Entertainment, Disney, Alphabet, Comcast, Unilever, PepsiCo, Restaurant Brands International, CoStar Group, Kellanova, Anheuser-Busch InBev, PDD Holdings, L'Oreal, Booking Holdings, T-Mobile US, Molson Coors Beverage, Mondelez International, Morgan Stanley, The Hershey Company, Squarespace, Snap Inc, Deckers Outdoor, e.l.f. Beauty, Etsy, Apple, Danone, Maplebear, Uber Technologies, Pfizer, Skechers, Toyota Motor Corporation, Amazon.com, Ally Financial, Progressive Corporation, Discovery Financial Services, and DoorDash were among those who advertised during the event.

Portfolio Pulse from Chris Katje

February 12, 2024 | 6:40 pm

Barstool Sports has renewed its partnership with DraftKings (NASDAQ:DKNG) following the repurchase of Barstool by its founder, Dave Portnoy, from PENN Entertainment (NASDAQ:PENN). The deal makes DraftKings the exclusive sports betting partner of Barstool Sports. This partnership was announced shortly after Super Bowl LVIII and includes a Free Throw Challenge with a $100,000 prize from DraftKings. PENN previously acquired and then sold Barstool Sports back to Portnoy, moving on to a partnership with Disney's ESPN Bet. The rekindled Barstool-DraftKings partnership could attract new customers to DraftKings and impact the sports betting market.

Portfolio Pulse from Chris Katje

February 12, 2024 | 3:46 pm

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