We recently published 8 Stocks Jim Cramer Discussed & Mentioned An Important Quantum Computing Development. Flutter Entertainment plc (NYSE:FLUT) is one of the stocks Jim Cramer discussed. Flutter Entertainment plc (NYSE:FLUT) is one of the largest sports betting companies in the US. Cramer discussed the firm after Polymarket rang the NYSE’s opening bell. The event saw the online prediction market team up with mixed martial arts (MMA) organization UFC and entertainment firm TKO. In his previous comments a ...

Core Insights - The announcement of launching sports betting in December by Flutter and DraftKings indicates a strong commitment to the market, despite previous hesitations from regulators in states like Nevada [1][3]. Industry Overview - The gaming and sports betting industry is facing challenges, with Flutter and DraftKings experiencing a decline of over 30% since their highs in August [2]. - Predictions in the market are viewed as a potential existential threat by traditional land-based companies like Caesars and MGM, leading to withdrawals from states like Nevada [3]. Company Strategies - Flutter aims to secure a top three position in the sports betting market and is looking to influence policymakers to legalize sports betting in states where it is currently not permitted, which accounts for about 40% of the U.S. [5]. - The company is also focusing on engaging with tribal entities to facilitate discussions on sports betting in California, which could have significant implications for the market [5]. Market Dynamics - The current market environment has seen favorable outcomes for fans, with the house losing in NFL betting this fall, but prediction markets are dominating the conversation [6]. - Despite the sell-off, the overall estimates for the next year have only shifted by about 5%, indicating stability in the market [7]. Future Outlook - The hold rate for sportsbooks is expected to improve, and upcoming events like the World Cup could provide additional opportunities for growth [8]. - Wage growth in sports leagues such as the NFL and NBA remains strong, which could positively impact betting activities [8].

Group 1: Market Overview - Major U.S. equities indexes experienced a decline, with technology shares significantly impacting the Nasdaq, which fell nearly 2% [1] - The S&P 500 and Dow Jones Industrial Average also reported lower performance following the end of the longest federal shutdown in U.S. history [1] Group 2: Company Performance - Cisco Systems (CSCO) saw its stock surge over 4% after the company raised its full-year profit outlook [3] - The Walt Disney Co. (DIS) shares dropped 9% due to weaker-than-expected revenue, particularly in its linear TV networks business [2] - Flutter Entertainment (FLUT) stock fell 11% after the company revised its full-year revenue and adjusted EBITDA forecasts downward [2] - WEBTOON Entertainment (WBTN) shares plummeted 25% after projecting a decline in fourth-quarter revenue [2] - Sealed Air (SEE) shares soared 19% following reports of potential talks with private-equity firm Clayton Dubilier & Rice for a private acquisition [3] - Firefly Aerospace (FLY) shares jumped 17% after posting better-than-expected results and a positive full-year revenue projection [3] Group 3: Commodity and Currency Movements - Oil futures rose nearly 1%, trading just above $59 per barrel [3] - Gold futures remained relatively unchanged at around $4,200 per ounce [3] - The yield on the 10-year Treasury note increased to 4.10% [3] - The U.S. dollar weakened against the euro, pound, and yen [3] - Cryptocurrency prices were mixed, with Bitcoin trading under $101,000 [3]

Sports betting stock Flutter Entertainment PLC (NYSE:FLUT) is falling sharply today, last seen down 8.8% at $213.87, after mixed third-quarter results. Adjusted third-quarter earnings of $1.64 per share handily beat analysts' anticipated 13 cents per share, though revenue of $3.79 billion missed estimates. What's really weighing on the stock, however, is the FanDuel parent's lowered full-year guidance, which it attributed to "unusually customer-friendly sports outcomes," as well as tax adjustments in Illino ...

Core Insights - Flutter Entertainment plc reported Q3 results on November 12, highlighting strong performance in iGaming, which was offset by weakness in the sportsbook segment [1] Financial Performance - The company's EBITDA growth was noted, indicating overall financial strength despite challenges in certain areas [1] Investment Perspective - The investment philosophy focuses on identifying mispriced securities through understanding financial drivers, often revealed by DCF model valuation, allowing for a comprehensive assessment of risk-to-reward [1]

Core Insights - Flutter Entertainment plc reported Q3 results on November 12, highlighting strength in iGaming, which was more than offset by weakness in the sportsbook segment, leading to notable EBITDA growth [1] Financial Performance - The company demonstrated robust performance in the iGaming sector, indicating a positive trend in online gaming despite challenges in the sportsbook area [1] Investment Perspective - The investment philosophy focuses on identifying mispriced securities by analyzing the underlying drivers of a company's financials, often revealed through DCF model valuation, allowing for a comprehensive assessment of risk-to-reward [1]

Flutter Entertainment PLC (NYSE:FLUT) reported mixed third-quarter financial results and cut its FY25 sales guidance below estimates on Wednesday.Flutter Entertainment reported quarterly earnings of $1.64 per share which beat the Street estimate of 86 cents. Quarterly revenue came in at $3.79 billion which missed the analyst estimate of $3.9 billion."Flutter delivered a solid third quarter, with continued momentum in both our US and International businesses. We are the clear number one operator in the U.S., ...

Core Insights - The company has revised its full-year outlook downward due to increased investments in sports and prediction markets, a tax cost associated with the Illinois wager fee, and regulatory changes in India [1] Group 1 - The lower full-year outlook indicates a strategic shift towards enhancing investments in sports and prediction markets [1] - The tax cost related to the Illinois wager fee has impacted the financial projections for the year [1] - Changes in regulations in India are also contributing factors to the revised outlook [1]

Core Insights - The parent company of FanDuel has announced its entry into prediction markets while simultaneously issuing a profit warning [1] Company Developments - The announcement of entering prediction markets indicates a strategic expansion for the company, potentially diversifying its revenue streams [1] - The profit warning suggests that the company may face financial challenges in the near term, which could impact investor sentiment and stock performance [1] Industry Implications - The move into prediction markets reflects a growing trend in the gaming and betting industry, where companies are exploring new avenues for growth amid increasing competition [1] - The profit warning may signal broader challenges within the industry, potentially affecting other players as well [1]

Core Viewpoint - Shares of sports-focused firms experienced a decline following a New York State bill aimed at banning sports-related prediction markets for residents [1][4]. Group 1: Stock Performance - Genius Sports saw a nearly 3% drop in after-hours trading, closing at $10.30 [2][3]. - DraftKings shares fell by 0.79%, closing at $31.51 [2][3]. - Flutter Entertainment's stock decreased by 4.26%, with a closing price of $234.45 [2][3]. Group 2: Legislative Impact - The New York State legislation, known as the ORACLE Act, seeks to prohibit various categories of sports-related betting, including wagers on catastrophic events, politics, and individual incidents within larger sporting events [4][5]. - The bill aims to regulate emerging platforms that combine financial trading with gambling mechanics, which have outpaced current oversight [6]. Group 3: Market Context - Kalshi, a federally-regulated prediction market, recently achieved a valuation of $5 billion after raising $300 million [7]. - Polymarket is attempting to re-enter the U.S. market following a $2 billion investment from Intercontinental Exchange Inc. [7]. - The prediction market sector is viewed as part of a "hype cycle," indicating significant interest and potential growth in this area [7].