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Core Insights - Diamond Sports is undergoing significant changes, including a naming rights deal with FanDuel to rebrand its Bally Sports channels as the NHL season begins and the NBA season approaches [1][3] - The agreement with FanDuel could facilitate Diamond Sports' emergence from bankruptcy, allowing FanDuel to acquire up to 5% equity in the reorganized company [2][3] - The partnership is seen as beneficial for both parties, aligning the regional sports networks with the online gaming business [5] Company Developments - Diamond Sports filed court papers indicating that discussions with FanDuel began in February, but final terms were negotiated after securing agreements with the NBA and NHL [4] - The company has faced challenges during its bankruptcy proceedings, with teams from various leagues exiting its networks for alternative local viewing options [8][9] - Diamond Sports aims to emerge from bankruptcy as early as December, despite losing multiple MLB teams and facing ongoing restructuring discussions [8][9] Historical Context - This marks the third name change for the regional sports networks, which were previously under the Fox Sports banner before being sold to Sinclair and then rebranded with Bally's Corp. [6] - Diamond Sports has alleged that Sinclair's ownership has worsened its financial issues, although Sinclair has not admitted to any wrongdoing [7]

Group 1 - FanDuel is offering a three-month subscription to NBA League Pass for fans who opt-in, enhancing the viewing experience with live betting odds during games [1][3][4] - The promotion runs from October 15 to October 28, where new and existing customers can receive the NBA League Pass by placing a $5 bet [3][4] - FanDuel's President, Mike Raffensperger, expressed excitement about continuing the partnership with the NBA to improve the betting experience for fans [4] Group 2 - FanDuel TV's daily NBA show "Run It Back" has returned for its third season, providing fans with news, interviews, and insights [5] - The show is hosted by Emmy-award winner Michelle Beadle and former NBA players, airing Monday through Friday at 10:00 AM ET [5] - FanDuel Group operates a comprehensive portfolio of gaming brands and has a significant presence across the United States with approximately 17 million customers [6]

Flutter Entertainment plc (FLUT) recently experienced a sharp increase in its stock price. Over the past month, the company's shares have gained 9.7%, outpacing the industry's gain of 7.3%. FLUT has also outshined the S&P 500 and the Zacks Consumer Discretionary sector's increase of 3.6% and 5.7%, respectively. With its strong momentum, FLUT has firmly established itself as a standout performer, showcasing its resilience and growth potential against market benchmarks. As of Wednesday, the stock closed at $2 ...

Donation comes after this year's launch of mobile sports betting in the state and marks the fourth $1 million FanDuel donation to UNCF NEW YORK, Oct. 1, 2024 /PRNewswire/ -- FanDuel, the premier online gaming company in North America, today announced a fourth $1 million donation supporting the UNCF (United Negro College Fund) whose mission is to build a robust and nationally recognized pipeline of under-represented students who, because of UNCF support, become highly qualified college graduates. The donatio ...

The online gaming giant announced a big share repurchase program and gave long-term growth guidance to 2027. Online gambling giant Flutter Entertainment (FLUT 5.57%) rallied 6.5% on Wednesday as of 1:24 p.m. ET. You may know Flutter as the parent company of FanDuel, which is a popular U.S. fantasy sports site. However, the company also has physical sportsbook properties across the U.S., Ireland and the U.K., Australia, and other geographies, as well as platforms for online betting and casino games, known as ...

Core Viewpoint - Flutter Entertainment is positioned for growth in the online sports betting market, with a strong market share and significant opportunities, particularly in the U.S. market, which is expected to drive earnings growth [1][2]. Group 1: Market Position and Growth Potential - Flutter's leadership in the U.S. online sports betting market is projected to contribute to a 25% global adjusted EBITDA compound annual growth rate (CAGR) over the next three years [2]. - The total addressable market (TAM) for online sports betting in the U.S. is anticipated to exceed previous expectations, with the U.S. accounting for nearly 75% of the asset value in Needham's sum of the parts analysis [2][5]. - FanDuel, owned by Flutter, has demonstrated strong revenue and customer growth, maintaining a near duopoly with DraftKings in the U.S. online sports betting market [3]. Group 2: Competitive Landscape - FanDuel and DraftKings together hold a combined market share of 73% in 2023, with FanDuel at 37.8% and DraftKings at 34.8% [5]. - In the second quarter of 2024, FanDuel's market share was 37.3%, slightly ahead of DraftKings at 37.0%, while competitors like BetMGM and Caesars saw lower market shares compared to 2023 [6]. - The competitive dynamics suggest that unless there is a significant change in market structure, FanDuel and DraftKings will continue to dominate the market [5]. Group 3: Future Outlook - An upcoming Flutter Investor Day on September 25 is expected to provide further insights into the total addressable market size and EBITDA goals for the company [4]. - The potential for earnings growth is significant for operators that can consolidate market share in the expanding U.S. online sports betting market [5].

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, September 20th: Stock Yards Bancorp (SYBT) This bank holding company which provides banking, trust, investment management, private banking, and brokerage services, has a Zacks Rank #1(Strong Buy), and witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.0% over the last 60 days. Stock Yards Bancorp's shares gained 36.7% over the last three month compared with the S&P 500's ga ...

People walk by a banner outside of the New York Stock Exchange for the initial public offering of Flutter Entertainment, the parent company of FanDuel, on Jan. 29, 2024. FanDuel parent Flutter Entertainment will spend $2.6 billion (2.3 billion euros) to acquire Italian gambling company Snaitech from Playtech, adding to a string of deals that aim to boost international growth. In an email to CNBC, a Flutter spokesperson said the company is "hugely excited" to add another leading brand to its portfolio "in wh ...

Core Insights - Flutter Entertainment is acquiring Snaitech, a major online gambling company in Italy, for 2.3 billion euros ($2.56 billion) [1][3][4] - The acquisition will enhance Flutter's presence in Italy, which is Europe's largest gambling market with a gross revenue of 21 billion euros in 2023 [3] - The deal is expected to close in the second quarter of next year and will provide Flutter with an estimated 30% share of Italy's online gaming market [3][4] Strategic and Financial Implications - Flutter's CEO described the acquisition as strategically and financially compelling, aligning with the company's value-creating M&A strategy [4] - The acquisition is anticipated to accelerate Snaitech's growth by leveraging Flutter's market-leading products and capabilities [4] - Following the deal, Snaitech's parent company, Playtech, plans to return 1.7 billion to 1.8 billion euros to shareholders through a special dividend [4] Market Performance - Flutter's shares have increased by 25% this year, reflecting positive market sentiment following the announcement of the acquisition [5]