For in-depth and deep-dive research on the casino and gaming sector, subscribe to The House Edge . New: Free excerpts from our book in progress, "The Smartest Ever Guide to Gaming Stocks" – free to existing members and new subscribers.Flutter's (NYSE: FLUT ) growth has entered the expressway fast lane and could move to our upgraded price target of $430 by year's end. Runaway sector leaders are the new reality of the stock market. It's not only aHoward Jay Klein has 30 years of experience as an executive and ...

NEW YORK, Sept. 3, 2025 /PRNewswire/ -- September marks Responsible Gaming Education Month, and today FanDuel, the premier online gaming company in North America, announced the addition of Keith Whyte as a Responsible Gaming Strategic Advisor. In his role, Keith will offer insights on the company's Responsible Gaming strategy and programs, including identifying new opportunities for advocacy and advancing partnerships, as well as leading and developing various events to further a culture of Responsible Gami ...

来源：摸啊摸 1，看到關於一篇文章(後附)介紹Robinhood(一家針對散戶的新興券商) 宣布將推出針對大學與職業美式 足球的事件合約； 而FanDuel(一家體育博彩巨頭)將向用戶提供針對金融商品的事件合約，涵蓋股票、 比特幣（BTC-USD）、石油與黃金等。 先看"事件合約"定義：事件合約（Event Contract）是一種金融工具，讓參與者對某個明確事件是否會發 生進行"是 / 否"的預測。特點是： 用戶不需持有任何資產，只需判斷某事件是否會發生，若預測正確則獲得固定報酬，錯誤則損失本金。 2，事件合約和博彩的區別： | 項目 | 事件合約 | 博彩 | | --- | --- | --- | | 本質 | 金融工具,類似期貨或遗擇 | 娛樂性下注,依賴機率與運氣 | | | 權的簡化版 | | | 目的 | 預測市場、風險管理、资訊、 | 娱樂、博弈、赢取獎金 | | | 張台 | | | 參與者 | 投资者、交易者 | 腊客、坑家 | | 監管機構 | 商品期货交易委員會 | 美國各州博彩委員會或博彩局 | | | (CFTC) 等金融監管機構 | | | 市場結構 | 交易所撮合、價格反映機率 ...

Core Insights - The online sports betting market in the U.S. is facing increased competition from new entrants like Kalshi and Robinhood, which could impact the market share of established players like DraftKings and Flutter Entertainment [2][4][7] Group 1: Market Dynamics - DraftKings and Flutter's FanDuel have historically held a near duopoly in the online sports betting market [2] - Kalshi is set to expand its offerings for the 2025 NFL season to include over/under and spread betting, as well as player bets, which could disrupt the current market [2][3] - Robinhood is also entering the prediction market space, adding competition for the upcoming football season [4] Group 2: Impact of Player Props - Player props are becoming increasingly significant in NFL betting, potentially overshadowing traditional betting methods like point spreads [5][6] - The introduction of player prop betting by Kalshi could lead to substantial losses for DraftKings and FanDuel, as these bets are among the most popular [7] Group 3: Regulatory Environment - Kalshi is federally regulated by the CFTC, allowing it to operate in states without legalized online sports betting, which could broaden its market reach [8][9] - Kalshi has reported over $2 billion in sports-related contracts traded in 2025, indicating strong consumer interest [9] Group 4: Stock Performance - DraftKings stock closed at $45.02, down 1.49%, but is up over 21% year-to-date in 2025 [10] - Flutter stock closed at $290.76, down 1.10%, with a year-to-date increase of over 12% [11]

Group 1 - FanDuel has announced a new market access agreement with St. Louis CITY SC ahead of the launch of mobile sports betting in Missouri [1][2] - Missouri will become the 25th state or territory where FanDuel offers mobile sports betting, joining a list of states including Arizona, Colorado, and New Jersey [2] - The partnership aims to engage with the local community and support St. Louis CITY SC while introducing FanDuel's leading sportsbook to Missouri [2] Group 2 - FanDuel Group is recognized as the premier mobile gaming company in the United States, with a portfolio that includes FanDuel Sportsbook, FanDuel Casino, and FanDuel Racing [3] - The company operates across all 50 states, serving approximately 17 million customers and maintaining 25 retail locations [3] - FanDuel Group is a subsidiary of Flutter Entertainment, which is the world's largest sports betting and gaming operator [4]

Summary of Flutter Entertainment Fireside Chat - August 13, 2025 Company Overview - **Company**: Flutter Entertainment (FLUT) - **Key Focus**: iGaming and sports betting, particularly in the US and international markets Core Points and Arguments 1. **Strong Q2 Earnings**: Flutter reported nearly $400 million in revenue for June with a 22.5% EBITDA margin, indicating strong performance across its business segments, especially in the US [1][2] 2. **Market Positioning**: The company has successfully transitioned to a US primary listing and moved its headquarters to the US, enhancing liquidity and index inclusion [3][4] 3. **Profitability and Growth**: Flutter has reached profitability in the US and is experiencing strong operating momentum, with significant growth potential in international markets [5][6] 4. **Sustainability of Growth**: The company is optimistic about continued growth in both mature and new markets, particularly in iGaming, where penetration rates are still increasing [9][10] 5. **Cost Savings Initiatives**: Flutter is on track to deliver $300 million in cost savings, which is expected to enhance margins and operational efficiency [13][68] 6. **Regulatory Landscape**: The company is actively managing regulatory relationships and is prepared for potential tax increases, viewing them as manageable risks [25][27][63] 7. **International Expansion**: Flutter is focusing on strategic acquisitions, such as SNAI in Italy and NSX in Brazil, to strengthen its market position and drive growth [48][51] 8. **iGaming Leadership**: FanDuel has become the number one iGaming brand in the US, with a focus on improving customer experience and exclusive content [31][36] 9. **Live Betting Innovations**: Flutter emphasizes the importance of live betting and has developed features to enhance user experience, positioning itself ahead of competitors [45][46] 10. **Future Outlook**: The company is confident in achieving its long-term margin targets and continues to explore M&A opportunities while returning capital to shareholders through share buybacks [71][88] Additional Important Insights - **Market Dynamics**: Flutter is not currently seeing any competitive impact from prediction markets in states where it operates sports betting [22] - **Tax Strategy**: The company is educating lawmakers on the implications of tax policies, emphasizing the need for sustainable tax rates to avoid pushing customers to the black market [28][66] - **Performance in Italy and Turkey**: Flutter has seen significant growth in Italy and Turkey, with Turkey experiencing a 125% growth rate on a constant currency basis in Q2 [60][61] - **Cash Flow Management**: The company reported $156 million in free cash flow for the quarter, with tax payments affecting cash flow timing [75][76] This summary encapsulates the key points discussed during the Flutter Entertainment Fireside Chat, highlighting the company's strong performance, strategic initiatives, and outlook for future growth in the gaming industry.

Financial Performance - Flutter Entertainment reported second-quarter revenue of $4.19 billion, representing a 16% year-over-year increase, surpassing the Street consensus estimate of $4.06 billion [1] - The company achieved adjusted earnings per share of $2.95, exceeding the Street consensus estimate of $2.05 [1] Strategic Initiatives - CEO Peter Jackson highlighted the strong underlying performance and progress on key strategic initiatives, emphasizing organic growth and value-creating M&A as drivers for revenue growth [2] - Flutter is raising its full-year revenue guidance to $17.26 billion, up 23% year-over-year, from a previous estimate of $17.08 billion [2] - The adjusted EBITDA guidance has also been increased to $3.295 billion, up from the prior guidance of $3.18 billion [2] Analyst Ratings and Price Targets - Following the earnings announcement, Needham analyst Bernie McTernan maintained a Buy rating and raised the price target from $340 to $355 [5] - Barclays analyst Brandt Montour also maintained an Overweight rating and increased the price target from $350 to $352 [5]

Core Viewpoint - Flutter Entertainment plc has announced a share repurchase program with a maximum consideration of up to $245 million, aimed at reducing its share capital [1][2]. Group 1: Buyback Details - The buyback will commence on October 1, 2025, and conclude no later than December 31, 2025 [2]. - This buyback represents the fourth tranche of a multi-year share repurchase program totaling up to $5 billion, with an expected return of approximately $1 billion to shareholders in 2025 [2]. - Davy Securities UC will execute the buyback independently, with a maximum acquisition of 17,674,003 ordinary shares, adjusted for previous tranches [3]. Group 2: Regulatory Compliance - The buyback will adhere to U.S. Securities Exchange Act rules and EU Market Abuse Regulation, ensuring compliance with legal standards [4]. Group 3: Future Considerations - Future buyback decisions will depend on the ongoing assessment of the company's capital needs and market conditions [5]. Group 4: Company Overview - Flutter is recognized as the world's leading online sports betting and iGaming operator, with a diverse portfolio of brands including FanDuel, PokerStars, and Paddy Power [7][8].

Core Insights - Flutter Entertainment reported $4.19 billion in revenue for the quarter ended June 2025, marking a year-over-year increase of 16% and an EPS of $2.95 compared to $2.61 a year ago [1] - The reported revenue was slightly below the Zacks Consensus Estimate of $4.22 billion, resulting in a surprise of -0.78%, while the EPS exceeded expectations with a surprise of +15.69% against a consensus estimate of $2.55 [1] Financial Performance - The company’s shares have returned +7.2% over the past month, outperforming the Zacks S&P 500 composite's +1.2% change, and currently holds a Zacks Rank 3 (Hold) [3] - Geographic revenue breakdown includes: - International: $2.4 billion, slightly below the five-analyst average estimate of $2.43 billion - U.S.: $1.79 billion, slightly above the $1.78 billion average estimate [4] - iGaming (U.S.): $507 million, exceeding the three-analyst average estimate of $486.35 million - Other (U.S.): $65 million, slightly above the $64.97 million estimate [4] - Sportsbook (U.S.): $1.22 billion, slightly below the three-analyst average estimate of $1.24 billion - International Sportsbook: $1.04 billion, below the two-analyst average estimate of $1.11 billion [4] - UK and Ireland: $936 million, below the $976.07 million average estimate [4] - Asia Pacific: $402 million, above the two-analyst average estimate of $350.95 million [4] - Central and Eastern Europe: $138 million, below the $146.94 million estimate [4] - Brazil: $44 million, above the $37.57 million estimate [4] - Other International: $87 million, below the $96.29 million average estimate [4] - Other regions: $219 million, in line with the two-analyst average estimate [4]

Core Insights - Flutter Entertainment reported quarterly earnings of $2.95 per share, exceeding the Zacks Consensus Estimate of $2.55 per share, and showing an increase from $2.61 per share a year ago, resulting in an earnings surprise of +15.69% [1] - The company generated revenues of $4.19 billion for the quarter ended June 2025, which was slightly below the Zacks Consensus Estimate by 0.78%, but an increase from $3.61 billion year-over-year [2] - Flutter's stock has increased approximately 18.8% since the beginning of the year, outperforming the S&P 500's gain of 7.9% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.03 on revenues of $4.07 billion, and for the current fiscal year, it is $9.59 on revenues of $17.23 billion [7] - The estimate revisions trend for Flutter was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Gaming industry, to which Flutter belongs, is currently ranked in the bottom 42% of over 250 Zacks industries, suggesting that the industry's outlook could significantly impact the stock's performance [8]