Flutter Entertainment narrowed its loss and posted higher revenue in the third quarter fueled by an increase in sports betting on the NFL. The company’s shares rose following the results in post-market trading.
Flutter Entertainment narrowed its loss and posted higher revenue in the third quarter fueled by an increase in sports betting on the NFL. The company’s shares rose following the results in post-market trading.
Flutter, which went public on the New York Stock Exchange in January, said it now believes its total addressable market for 2030 is $36 billion of gross gaming revenue with forecast compound annual growth of 8.3%.
FanDuel owner Flutter Entertainment has reached an agreement to acquire one of Italy’s largest gambling companies, Snaitech, for €2.3 billion ($2.6 billion) in cash.
Irish betting giant Flutter Entertainment said on Thursday it plans to appeal a $330 million ruling against itself and partner Spribe in Georgia in a trademark case filed by a former shareholder of its Georgian subsidiary Adjarabet.
Shares of Flutter Plc jumped on Wednesday after the company reported a strong second-quarter performance, exceeding market expectations.
Stocks in DraftKings and FanDuel owner Flutter Entertainment were dropping Tuesday after Illinois senators passed a new budget that includes a tax increase on sports betting operators.
Shares in Flutter Entertainment rallied in London on Thursday ahead of a planned U.S. stock-market listing, even as the FanDuel owner warned that a string of sporting results in customers’ favor will result in lower-than-planned revenue.