A higher than average amount of NFL betting favorites won games in the 2024 season, which could be bad news for sportsbooks like Flutter Entertainment FLUT owned FanDuel and others.Flutter calls out one Detroit Lions game as being particularly painful, while an analyst says revised guidance has often been a time to buy sportsbook stocks.Lowered Guidance: On Tuesday, Flutter Entertainment announced it was lowering its full-year guidance due to what it called customer-friendly results from U.S. sports."Contin ...

CEO Peter Jackson has overseen Flutter's rapid expansion.Courtesy of FlutterInternational sports betting operator Flutter has warned of a hit to revenues and profits after U.S. gamblers enjoyed a string of winning bets on American football games.The New York-listed owner of FanDuel, Paddy Power and Betfair said late on Tuesday that this year’s NFL season has so far been the “most customer friendly since the launch of online sports betting, with the highest rate of favorites winning in nearly 20 years.”Flutt ...

NFL Season Impact on Flutter Entertainment - The current NFL season has been the most customer-friendly since the launch of online sports betting, with the highest rate of favorites winning in nearly 20 years [2] - This has resulted in lower revenue of approximately $390 million and adjusted EBITDA of around $260 million for Flutter Entertainment from Nov 12 to Dec 31 [2] Revised Financial Guidance - Flutter Entertainment has revised its 2024 US revenue forecast to $578 billion, down from the previous outlook of $605 billion to $625 billion [3] - The company also adjusted its 2024 US EBITDA forecast to $505 million, compared to the earlier expectation of $670 million to $750 million [3] Customer-Friendly Wagering Outcomes - The success of NFL favorites this season has led to better payouts for customers, resulting in a $370 million reduction in Flutter's full-year US revenue [4] - Flutter attributes this to unfavorable US sports results, particularly in NFL Parlay and Same Game Parlay outcomes, which offset strong US player momentum in November and December [1]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (Commission File Number) Ireland 001-37403 98-1782229 (IRS Employer Identification Number) 300 Park Ave South New York, New York 10010 (Address of Principal Executive Offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (646) 930-0950 Not Applicable (Former Name or Former Address, if Changed Since Last Report.) Date of Repor ...

NBA Super Slam is exclusively live on FanDuel Casino featuring official NBA marks in gameJERSEY CITY, N.J., Dec. 18, 2024 /PRNewswire/ -- Today, FanDuel Group, the premier online gaming company in North America, announced the launch of a co-branded slot game with the National Basketball Association (NBA), NBA Super Slam. Developed by White Hat Studios, NBA Super Slam will be available exclusively on FanDuel Casino in Michigan, Pennsylvania, New Jersey and Ontario. FanDuel Casino Launches First Co-Branded ...

Flutter Entertainment (FLUT) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual inve ...

FanDuel expands government affairs team with new hires who bring decades of experience and strong relationships to the organizationNEW YORK, Dec. 11, 2024 /PRNewswire/ -- Today, FanDuel Group, the premier online gaming company in North America, announced that James Hartmann and Louis Trombetta have joined FanDuel as Directors of Government Relations. Both Trombetta and Hartmann bring a wealth of experience to the team as FanDuel looks to strengthen its relationships in existing states of operation and new s ...

Casino stock Flutter Entertainment PLC (NYSE:FLUT) is trading at new record highs after Goldman Sachs initiated coverage with a "buy" rating. The firm also set a price target of $320, which is a hefty premium to current levels. At last look, FLUT was up 2.7% at $273.97, and earlier hit an all-time peak of $275.63. On the charts, the $260 level moved in as support following the stock's Nov. 13 post-earnings bull gap. Since the start of the year, the equity is up 52.1%. Goldman Sachs is joining an already bul ...

PHILADELPHIA, Nov. 14, 2024 /PRNewswire/ -- Evolution, the industry-leading B2B solution provider for casino operators, today announced a three-year extension of their US agreement with FanDuel Casino. The renewal strengthens the strategic partnership between the two companies, reaffirming Evolution as FanDuel's sole provider of core live dealer casino games. Under the terms of the extension, FanDuel players will continue to have access to Evolution and Ezugi's full portfolio of industry-leading live casino ...

Key TakeawaysGambling company Flutter Entertainment reported better-than-expected revenue on strong wagering on NFL games.The parent of FanDuel said peak bets per minute for NFL games was already higher than during the last Super Bowl.Flutter Entertainment shares traded at an all-time high. Shares of Flutter Entertainment (FLUT) traded at an all-time high Wednesday as the parent of sports gambling site FanDuel beat revenue estimates and boosted its guidance as it benefited from demand for wagering on Nation ...