Welcome to our dedicated page for Flutter Entertainment plc news (Ticker: FLUT), a resource for investors and traders seeking the latest updates and insights on Flutter Entertainment plc stock.
Flutter Entertainment plc (symbol: FLUT) is a leading global online sports betting and iGaming company. Based in Dublin, Ireland, Flutter operates a diverse portfolio of some of the world's most renowned brands in the online sports betting and gaming sector. The company's key brands include FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, TVG, Junglee Games, and Adjarabet.
Flutter Entertainment is divided into several segments based on geography:
- UK & Ireland: This segment offers sports betting, iGaming products including games, casino, bingo, and poker.
- Australia: Through the Sportsbet brand, Flutter provides online sports betting products.
- U.S.: The U.S. market offers sports betting, casino, daily fantasy sports (DFS), and horse racing wagering products primarily through the FanDuel brand.
- International: This segment focuses on sports betting, casino, poker, rummy, and lottery, primarily online.
In recent developments, Flutter Entertainment marked a significant milestone with the listing of its ordinary shares on the New York Stock Exchange (NYSE) under the ticker symbol 'FLUT' as of January 29, 2024. The company also maintains a premium listing on the London Stock Exchange (LSE) under the ticker 'FLTR'. This strategic move, endorsed by shareholders, is expected to unlock long-term strategic and capital market benefits, making Flutter more accessible to U.S.-based investors.
Financially, Flutter has shown strong performance and resilience. For the fiscal year 2023, the company reported revenue growth of 24.6% year-on-year, reaching $11,790 million. The U.S. market, particularly through FanDuel, has played a pivotal role in this growth, contributing significantly to the company's earnings profile. FanDuel achieved a positive full-year adjusted EBITDA in 2023 for the first time, reinforcing its position as America's number one online sportsbook.
Flutter's commitment to sustainability is evident through its 'Positive Impact Plan', which focuses on promoting responsible gambling and long-term growth. The company has invested over $100 million in global safer gambling initiatives, including significant marketing campaigns in the U.S. with FanDuel ambassadors promoting responsible play.
Looking ahead, Flutter continues to expand its presence and enhance its product offerings. The company has launched new products such as the 'Acca Freeze' on Sky Bet and innovative features in iGaming like exclusive access to popular game titles. The acquisition of MaxBet in January 2024 further strengthens Flutter's foothold in the European market.
Overall, Flutter Entertainment plc remains a dominant force in the global online sports betting and iGaming industry, leveraging its substantial scale and innovative mindset to drive growth and create a sustainable future for its stakeholders.
FanDuel announced that Peyton and Eli Manning will compete in a live field goal kicking competition called 'Kick of Destiny 3' during Super Bowl LIX in New Orleans. The competition will air during FOX's Super Bowl Pregame Show at 3pm ET, where both former NFL quarterbacks will attempt 25-yard field goals. FanDuel customers can make free picks through the FanDuel Sportsbook app on which Manning brother will win, with correct predictions earning a share of $10 million in Bonus Bets.
The competition format includes initial 25-yard attempts, with additional rounds if needed. In case of a tie after three rounds, the winner will be determined by who kicked closest to the center target. The campaign includes TV spots showing the brothers' preparation and will culminate in the live event, with recap footage being shown during two Super Bowl commercial spots.
Flutter Entertainment (NYSE:FLUT) reports significant impact from unfavorable US sports results in Q4 2024. The company experienced adverse outcomes primarily in NFL Parlay and Same Game Parlay bets, with the 2024/2025 NFL season showing the highest rate of favorites winning in nearly 20 years.
The unfavorable results led to a $438m reduction in gross gaming revenue (GGR), approximately $390m decrease in revenue, and $260m reduction in Adjusted EBITDA from November 12 to December 31. US revenue for 2024 is now estimated at $5.78bn, down from previous guidance of $6.05bn-$6.25bn. The 2024 US Adjusted EBITDA is revised to approximately $505m, compared to previous guidance of $670m-$750m.
Q4 sportsbook net revenue margin was 6.6%, with structural revenue margin at 14.5%. Despite these short-term setbacks, Flutter reports good momentum in UK and Ireland operations, with favorable English Premier League results leading to slightly higher Group Ex-US revenue and Adjusted EBITDA than previously guided.
Flutter Entertainment (NYSE:FLUT) has reported significant impacts from unfavorable US sports results in Q4 2024. The company experienced adverse outcomes primarily in NFL Parlay and Same Game Parlay bets, with the 2024/2025 NFL season showing the highest rate of favorites winning in nearly 20 years.
The unfavorable results led to an estimated $438m reduction in gross gaming revenue (GGR), approximately $390m in revenue reduction, and $260m decrease in Adjusted EBITDA for the period from November 12 to December 31. As a result, US revenue for 2024 is now estimated at $5.78bn, down from the previous guidance of $6.05bn-$6.25bn. The 2024 US Adjusted EBITDA is revised to approximately $505m, compared to previous guidance of $670m-$750m.
Q4 sportsbook net revenue margin was 6.6%, with structural revenue margin at 14.5%. The Group Ex-US segment showed positive performance, with UK and Ireland operations demonstrating good momentum and favorable sports results in the English Premier League.
Flutter Entertainment (NYSE:FLUT), the world's leading online sports betting and iGaming operator, has successfully completed a repricing of its Term Loan B worth approximately $3.885 billion. The loan, issued in November 2023 and due in 2030, will now have its interest rate reduced by 25 basis points from SOFR plus 2.00% to SOFR plus 1.75%. This proactive financial move is expected to generate annual interest expense savings of approximately $10 million. The loan's maturity terms remain unchanged.
FanDuel Group (NYSE: FLUT) has launched NBA Super Slam, the first co-branded slot game with the National Basketball Association. Developed by White Hat Studios, the game is exclusively available on FanDuel Casino in Michigan, Pennsylvania, New Jersey and Ontario.
The basketball-themed slot game features official NBA marks and creates an immersive arena experience with cheering crowds. Players can spin for hoop symbols to collect basketballs with various cash values. The game is being promoted by Chandler Parsons, co-host of FanDuel TV's 'Run It Back'.
FanDuel Group, North America's premier online gaming company, has strengthened its government relations team by appointing James Hartmann and Louis Trombetta as Directors of Government Relations. Hartmann, a former prosecutor and Chief Counsel to the Illinois House Speaker, brings significant legislative experience, particularly in gaming legislation. Trombetta, the former Executive Director of the Florida Gaming Control Commission, contributes over a decade of gaming industry expertise. These strategic hires aim to enhance FanDuel's relationships in existing markets and support expansion into new states.
FanDuel Group, a subsidiary of Flutter Entertainment (NYSE: FLUT), operates across all 50 states with approximately 17 million customers and 25 retail locations, offering services including FanDuel Sportsbook, FanDuel Casino, and FanDuel Racing.
FanDuel has launched 'My Spend', a new responsible gaming dashboard that helps customers track their spending patterns and manage budgets. The tool provides personalized stats including deposit amounts and net winnings over various timeframes (7 days, 4 weeks, or 3 months).
The dashboard integrates with FanDuel's existing responsible gaming tools, such as deposit and wager limits. Developed based on research showing players' interest in personalized activity insights, My Spend will be promoted through a new advertising campaign in both English and Spanish across multiple media channels.
The feature is available across all FanDuel products, including Sportsbook, Casino, Fantasy, Racing and Faceoff.
FanDuel Casino has announced a one-day sponsorship of free tolls and rides on December 18th, 2024, across multiple transportation systems in New Jersey and Pennsylvania. The initiative includes the Atlantic City Expressway Pleasantville Toll Plaza (12 am-11:59 pm ET), PATH commuter rail system (8:00 pm-11:00 pm ET), and SEPTA Broad Street Line (6:00 pm-12:00 am ET).
The promotion is part of FanDuel's casino brand campaign and is available to all travelers, regardless of whether they are FanDuel customers. FanDuel Casino, available in New Jersey, Pennsylvania, Michigan, Connecticut, and West Virginia, offers mobile gaming including slots, blackjack, table games, baccarat, and live dealer casino games to customers aged 21 and above.
The PokerStars Women's Winter Festival has made history as the largest women's poker event outside Las Vegas, with 271 female players participating in the $400 buy-in Main Event at London's Hippodrome Casino. The event featured a £100,000 guaranteed prize pool, with Maria Lampropulos winning £20,000 and the PokerStars trophy.
The festival included PokerStars' first Women's High Roller event and a unique 50/50 event with equal male and female participation. With women typically comprising only 3% of tournament fields, the festival aimed to increase female participation in poker through a supportive environment, featuring poker bootcamps and tutorials from November 21-24.
Flutter Entertainment has announced the launch of its first share repurchase tranche of up to $350 million on the NYSE, starting November 14, 2024, and ending March 31, 2025. This represents the initial phase of a larger $5 billion share buyback program authorized in September 2024. Goldman Sachs will independently execute the buyback, with a maximum limit of 17,739,905 ordinary shares. The program aims to reduce Flutter's share capital, with all repurchased shares to be cancelled. Future buyback decisions will depend on capital requirements and market conditions.
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