Core Viewpoint - Flutter Entertainment plc is launching an offering of senior secured notes in multiple currencies to fund strategic acquisitions and partnerships, indicating a proactive approach to growth and market positioning [1][3]. Group 1: Offering Details - Flutter is offering USD, EUR, and GBP-denominated senior secured notes due in 2031, which will be a further issuance of previously issued notes [1]. - The total amount intended to be raised through the notes and an incremental debt facility is $1,755 million [3]. Group 2: Purpose of Funds - Proceeds from the offering will be used to acquire a 5% minority interest in FanDuel and to extend a strategic partnership with Boyd Interactive Gaming Holdings, L.L.C. [3]. Group 3: Company Overview - Flutter is recognized as a leading online sports betting and iGaming operator globally, with a strong market presence in the US [4]. - The company operates a diverse portfolio of brands, including FanDuel, Sky Betting & Gaming, and PokerStars, among others [5].

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Flutter Entertainment (FLUT) . This company, which is in the Zacks Gaming industry, shows potential for another earnings beat.This online gambling company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarter ...

Core Viewpoint - Flutter Entertainment has announced the extension of its strategic partnership with Boyd Gaming Corporation to 2038 and the acquisition of Boyd's 5% stake in FanDuel for approximately $1.755 billion, increasing Flutter's ownership in FanDuel to 100% at an implied valuation of around $31 billion [1][2][3]. Group 1: Strategic Partnership and Acquisition - The acquisition involves a payment of approximately $1.755 billion, which includes $1.55 billion for the stake in FanDuel and $205 million for revised commercial terms [2][12]. - The strategic partnership extension with Boyd will lead to significantly reduced market access costs, expected to save Flutter approximately $65 million annually starting July 1, 2025 [2][6][12]. Group 2: Market Position and Financial Impact - FanDuel holds a 43% market share in sports betting and 27% in iGaming in the US, making it the clear market leader [6][12]. - The transaction is anticipated to enhance Flutter's long-term profitability profile and mitigate potential tax increases, with the expected annual savings contributing to a more favorable adjusted EBITDA margin [6][12]. Group 3: Financial Arrangements - Flutter has entered into a bridge credit agreement for a senior secured first lien term loan of $1.75 billion to finance the acquisition [5][7]. - The leverage ratio is expected to increase initially but is projected to decrease due to visible profitable growth opportunities, with a commitment to maintain a medium-term leverage ratio of 2.0-2.5x [3][6].

FanDuel appoints new Senior Vice President of Public Affairs and new Head of Federal Affairswho together have decades of government policy experienceNEW YORK, July 7, 2025 /PRNewswire/ -- Today, FanDuel Group, the premier online gaming company in North America, announced that Shailagh Murray has been appointed Senior Vice President of Public Affairs and Jonathan Nabavi has been appointed Vice President of Federal Affairs. Murray and Nabavi will bring their extensive experience to FanDuel as the company lead ...

Group 1 - Building Benjamins is a free stock picking and market commentary investment newsletter published by Tradition Investment Management, LLC [1] - Benjamin Halliburton, the founder, has a notable background in investment, having founded Tradition Capital Management in 2000 and received multiple accolades for his performance [1] - Halliburton has extensive experience in the investment field, starting his career at Merrill Lynch in 1986 and earning an MBA with a focus on finance from Duke's Fuqua School of Business in 1990 [1] Group 2 - Halliburton was recognized as the top-performing portfolio manager at Brundage, Story and Rose, where his "Disciplined Growth Strategy" outperformed the S&P 500 during the 1990s bull market [1] - He was the youngest partner at his firm and received high praise from senior managing partners for his investment acumen [1]

Core Viewpoint - Flutter Entertainment, a leading online sports betting and iGaming operator, is responding to the Illinois State legislature's decision to introduce a betting transaction fee for licensed operators starting July 1, 2025, which will impact the cost structure for operators in the state [1][2]. Group 1: Company Response - FanDuel, Flutter's US market-leading brand, will implement a $0.50 transaction fee on each bet placed on its platform in Illinois starting September 1, 2025, due to increased operational costs from the new Illinois Transaction Fee [2]. - The introduction of the transaction fee follows a significant increase in the betting tax rate in Illinois in 2024, which FanDuel had previously attempted to absorb without passing costs to customers [2]. Group 2: Industry Impact - Flutter's CEO, Peter Jackson, expressed concerns that the Illinois Transaction Fee will disproportionately affect lower wagering recreational customers and may drive some customers to unregulated operators, which do not contribute tax revenue or provide the same level of customer protection [4]. - The company emphasizes the importance of optimal gaming tax rates for maximizing market growth and revenue for states over time [4]. Group 3: Financial Performance - Flutter reported global revenue of $14,048 million for fiscal 2024, representing a 19% year-over-year increase, and $3,665 million for the quarter ended March 31, 2025 [6].

 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION WHERE IT IS UNLAWFULTO DO SO Flutter announces the pricing of $1,000 million aggregate principal amount of 5.875% Senior Secured Notes due 2031, €550 million aggregate principal amount of 4.000% Senior Secured Notes due 2031 and £450 million aggregate principal amount of 6.125% Senior Secured Notes due 2031 DUBLIN and TORONTO, May 23, 2025 (GLOBE NEWSWIRE) -- Flutter Entertainment plc ("Flutter") (NYSE:FLUT; LSE:FLTR), ...

Core Viewpoint - Flutter Entertainment plc is launching an offering of senior secured notes in multiple currencies to raise a total of $2,800 million, primarily to repay existing debt and cover acquisition-related costs [1][3]. Group 1: Offering Details - The offering includes USD-denominated, EUR-denominated, and GBP-denominated senior secured notes, all due in 2031 [1]. - Flutter is also raising incremental debt under its existing U.S. dollar-denominated term loan B facility [2]. - The total amount targeted for the offering and the incremental facility is $2,800 million [3]. Group 2: Use of Proceeds - Proceeds from the offering will be used to repay all amounts due under a bridge facility, which was partially utilized for the acquisition of Snaitech S.p.A. [3]. - Additional funds will cover certain costs, fees, and expenses related to these transactions [3]. Group 3: Company Overview - Flutter is recognized as the world's leading online sports betting and iGaming operator, holding a significant market position in the US and globally [4]. - The company aims to leverage its scale and competitive advantages to foster long-term growth and promote sustainability through its Positive Impact Plan [4]. - Flutter operates a diverse portfolio of brands, including FanDuel, Sky Betting & Gaming, and PokerStars, among others [5].

Core Insights - Tiger Global's total market value for Q1 2025 reached $26.6 billion, a slight increase from $26.5 billion in the previous quarter, reflecting a quarter-over-quarter growth of 5.36% [1][2] - The fund added 5 new stocks to its portfolio, increased holdings in 14 stocks, reduced holdings in 2 stocks, and completely exited 9 stocks during the quarter [1][2] - The top 10 holdings accounted for 62.74% of the total portfolio value [1][2] Holdings Overview - The largest holding is Meta (META.US) with approximately 7.47 million shares valued at about $4.3 billion, representing 16.18% of the portfolio [2][3] - Microsoft (MSFT.US) is the second-largest holding with around 6.24 million shares valued at approximately $2.3 billion, which is 8.81% of the portfolio, showing a 16.78% increase in shares from the previous quarter [3][4] - Other significant holdings include Sea (SE.US), Google (GOOGL.US), and Amazon (AMZN.US), with respective portfolio percentages of 7.87%, 5.99%, and 4.71% [3][4] Trading Activity - The top five new purchases included Applovin (APP.US), Zillow-C (Z.US), GE Vernova (GE.US), Block (XYZ.US), and Zillow-A (ZG.US) [4][5] - The top five sold-out positions were Apollo Global Management (APO.US), Qualcomm (QCOM.US), Uber (UBER.US), Datadog (DDOG.US), and Atlassian (TEAM.US) [5][6] - The turnover rate for the portfolio was 25.93%, indicating a relatively active trading strategy [2]

Core Viewpoint - Flutter Entertainment has acquired a 56% stake in NSX Group, a Brazilian operator, for approximately $350 million, aligning with its strategy to invest in leading positions in attractive international markets [1][2][3] Group 1: Acquisition Details - The acquisition involves a cash payment of about $350 million and the contribution of Flutter's existing Betfair Brazil business [3] - The deal is expected to generate an additional $220 million in revenue and an adjusted EBITDA loss of $70 million in 2025 [2][4] - Flutter has established mechanisms for increasing its shareholding in NSX through reciprocal put/call arrangements in the fifth and tenth years post-completion [3] Group 2: Market Position and Strategy - The Brazilian online sports betting and iGaming market is characterized by a population exceeding 200 million, with a strong cultural affinity for sports, particularly soccer [6] - NSX has rapidly grown to become the fourth-largest operator in Brazil since its market entry in 2021, capturing a 9% market share by the end of 2023 [6][12] - The acquisition is expected to enhance Flutter's competitive position in Brazil and leverage its proprietary pricing and risk management capabilities to improve NSX's sportsbook offerings [6] Group 3: Financial Outlook - Flutter anticipates an increase in leverage due to the acquisition, but expects it to decrease over time as profitable growth opportunities materialize [4] - The company remains committed to maintaining a medium-term leverage ratio of 2.0-2.5x [4]