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

237.12

Mkt cap

44B

Volume

2.6M

High

250.47

P/E Ratio

-33.52

52-wk high

252.84

Low

236.93

Div yield

N/A

52-wk low

148.00

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

Super Bowl LVIII's 30-second TV commercial costs have soared to $7 million, a 185x increase since the first Super Bowl in 1967. This reflects the high value companies place on the event's massive viewership, which continues to dominate ratings. The 2023 Super Bowl attracted 113 million viewers, a six-year high. The upcoming game, with potential record-breaking viewership due to Taylor Swift's involvement, is expected to see $1.5 billion in wagers, 35% higher than last year. Companies like MGM Resorts International, Caesars Entertainment, PENN Entertainment, DraftKings, Flutter Entertainment's FanDuel, and Wynn Resorts are highlighted as potential beneficiaries of the increased attention and betting activity.

Portfolio Pulse from Chris Katje

February 09, 2024 | 9:54 pm

Super Bowl LVIII will feature commercials from a wide range of companies, with Paramount Global airing the game on CBS, Nickelodeon, and Paramount+. The trend of celebrity inclusion in ads continues, with a notable focus on the 'Taylor Swift effect' expected to boost viewership. Companies like E.L.F. Beauty and Unilever are airing Super Bowl commercials for the first time in years, while Anheuser-Busch InBev and Molson Coors Beverage Company leverage the event to promote their beer brands. Other notable ads include FanDuel's interactive commercial, PepsiCo's introduction of Starry, and tech companies like Google and Microsoft showcasing their latest innovations. The event will also feature movie and TV series trailers from Paramount, The Walt Disney Company, and Comcast Corporation.

Portfolio Pulse from Chris Katje

February 09, 2024 | 4:41 pm

X, formerly known as Twitter and acquired by Elon Musk, has announced an exclusive partnership with BetMGM, a joint venture of MGM Resorts International (NYSE:MGM) and Entain, to become its official live odds sports betting partner. This partnership, described as a first-of-its-kind between a sports betting company and a social media brand, will feature sports betting odds and links on X, starting with professional football contests ahead of Super Bowl LVIII. The collaboration aims to increase BetMGM's customer sign-ups and engagement on X, especially with the sports betting market becoming increasingly competitive.

Portfolio Pulse from Chris Katje

February 09, 2024 | 4:00 pm

Martwon Weaver placed a $5 bet with FanDuel, a Flutter Entertainment plc unit, on five NFL awards with a potential payout of $680,960. The bet, which now has a market value of around $200,870, cannot be cashed out traditionally. Weaver, facing financial hardships, seeks to sell the bet through WagerWire. The NFL Honors awards ceremony, airing on CBS and streaming on Paramount+, could make this one of FanDuel's biggest unlikely odds wins.

Portfolio Pulse from Chris Katje

February 07, 2024 | 10:23 pm

Over the past 5 years, Flutter Entertainment (NYSE:FLUT) has achieved an average annual return of 21.52%, outperforming the market by 9.32%. A $100 investment in FLUT 5 years ago would now be worth $265.04. The company's market capitalization stands at $36.92 billion.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 4:00 pm

Super Bowl LVIII prop bets include options on Taylor Swift and Travis Kelce's relationship, with FanDuel offering odds on a potential proposal and MVP speech mentions. FanDuel, part of Flutter Entertainment (FLUT), limits these bets to Canadian regions. The event's viewership could be boosted by Swift's expected attendance, benefiting Paramount Global (PARA, PARAA), which will air the game on CBS, Nickelodeon, and stream on Paramount+.

Portfolio Pulse from Chris Katje

January 30, 2024 | 9:01 pm

Twitter, now owned by Elon Musk and referred to as X, is reportedly in talks with BetMGM, a joint venture of MGM Resorts International and Entain, to integrate sports betting data on the platform. This partnership could allow Twitter users to access BetMGM betting odds and place bets directly. The potential collaboration, which has not been officially announced, comes ahead of Super Bowl LVIII, a major event for sports betting. BetMGM is a key player in the sports betting market, competing with leaders like DraftKings Inc and FanDuel. The partnership could boost user engagement on Twitter and drive new sign-ups for BetMGM.

Portfolio Pulse from Chris Katje

January 29, 2024 | 9:14 pm

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