|Bid||11,825.00 x 0|
|Ask||11,830.00 x 0|
|Day's range||11,415.00 - 11,825.00|
|52-week range||69.78 - 11,860.00|
|Beta (5Y monthly)||0.42|
|PE ratio (TTM)||65.99|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||09 Apr 2020|
|1y target est||6,690.83|
International Game Technology (NYSE: IGT) and FanDuel announced today that they have greatly expanded their sports betting and iGaming agreement to now cover the entire U.S. The deal means IGT's PlaySports platform will now power all of FanDuel's sportsbooks in the country while FanDuel, which is owned by Flutter Entertainment (OTC: PDYP.Y), will offer IGT's PlayDigital's PlayCasino games in states where it operates online casinos. The iGaming and sports betting leaders had been expanding their relationship on a state-by-state basis, with Colorado joining New Jersey, Pennsylvania, West Virginia, and five other states in May to deliver collaborative sports betting entertainment.
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Competition in the online gambling industry is heating up. In 2018, the U.S. Supreme Court cleared the way to allow legal sports gambling, and many states have already changed their local laws to allow it to take place within their borders. While online gambling is a lot bigger than just sports betting, those legislative changes have helped catalyze growth for the entire industry.
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As any reader of this is probably aware, shares in Flutter Entertainment (LON:FLTR) are currently trading close to a 52 week high, with the share price up by a...
A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.
Paddy Power and Betfair's parent Flutter Entertainment <FLTRF.I> announced a share placement on Thursday that will see U.S. media group Fox Corp <FOXA.O> increase its investment in the group. Flutter said 8 million new shares would be placed with institutional investors via an accelerated book build to be launched immediately, as the Irish betting group looks to go on a deal spree and finance cost savings. The placement comes three weeks after Flutter completed its merger with Stars Group Inc (TSG) <TSGI.TO>.
Flutter Entertainment plc (ISE:FLTR) shareholders will have a reason to smile today, with the analysts making...
Paddy Power Betfair parent Flutter Entertainment said revenues had been more resilient to coronavirus disruption than expected, with the U.S. gaming market and continued Australian horse racing partly offsetting a global sports events shutdown. It had also flagged a possible further 30 million pound rolling monthly hit if horse racing was cancelled in Britain, Australia and Ireland and its shops closed. While racing has since ended in Britain and Ireland, and all Paddy Power stores shut, its continuation in Australia limited the year-on-year decline in revenue from March 16 to April 12 to 32%, less of a sports hit than the gambling group expected.
Flutter Entertainment (LON:FLTR) is a large cap global sports betting and gaming operator. Right now the Flutter Entertainment share price is on the expensive8230;
Paddy Power Betfair parent Flutter Entertainment will pay its 2019 dividend in ordinary shares, shelve a pro-rated dividend in relation to its merger with Stars Group Inc (TSG) and suspend the 2020 dividend for the combined group. Disruption to global online betting and gaming is expected to impact the financial profile of the combined group in the current financial year, Flutter said on Friday, likely pushing its net debt at the end of the first reporting period following completion above 3.5 times core earnings.
The owners of gambling brands Paddy Power, Betfair, Ladbrokes and William Hill warned on Monday of a big hit to earnings because of an unprecedented shutdown of global sports events caused by the coronavirus, hammering shares across the sector. Flutter Entertainment Plc, which operates the Paddy Power and Betfair brands, estimated that it would face a 90 to 110 million pound ($111 million-$136 million) impact on full-year earnings if curbs on sports fixtures remained in place until the end of August. GVC Holdings Plc, owners of the Ladbrokes betting shop chain, said its full-year core earnings may be reduced by 130-150 million pounds because of fewer sports fixtures.
Thursday is arguably the day the impact became tangible, as a slew of UK companies warned coronavirus was hurting their business.
Full-year earnings at Paddy Power Betfair parent Flutter Entertainment <FLTRF.I> fell in line with the gambling group's guidance as it prepares to close its acquisition of Poker Stars operator Stars Group Inc (TSG) <TSGI.TO>. Flutter agreed in October to buy Toronto-listed TSG in a $6 billion share deal that is set to create the world's largest online betting and gambling company by revenue upon its expected completion in the second or third quarter of 2020. Earnings across betting firms have been squeezed by the imposition of betting tax increases across developed markets such as Britain, Ireland and Australia, where Flutter made most of its 2.1 billion pounds in revenue last year.