|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||79.38 - 79.38|
|52-week range||70.25 - 93.65|
|Beta (3Y monthly)||-0.40|
|PE ratio (TTM)||23.40|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Flutter Entertainment , the gambling group formerly known as Paddy Power Betfair, suffered a 10% fall in first half earnings and forecast a full year dip in line with expectations as significant betting tax increases kicked in. Firms in the increasingly competitive gambling sector are seeking to offset tax hikes and tighter regulation with higher revenues and Flutter grew its half year sales by 18%, driven by its established online divisions and developing U.S. business. Earnings before interest, tax, depreciation and amortisation for the first six months still fell to 196 million pounds after an incremental 47 million pound hit in taxes and duties.
Paddy Power Betfair, touted "huge progress" in the developing U.S. market and a strong first quarter for its established Australian business as revenue rose by 17 percent despite sports results favouring gamblers. The Dublin-based group merged its U.S. business with fantasy sports company FanDuel last year to target a market set to open up in the coming years. On Thursday said that had resulted in a 47 percent jump in U.S. revenue for the three months to March 31, accounting for just over 15 percent of group sales.
The implied chance of a no-deal Brexit tumbled to under 5 percent on the Betfair online exchange on Friday, after the European Union agreed a range of possible extensions to the process. The move reflects the wagers placed on the Betfair system which is one of Europe's most widely-used peer-to-peer betting exchanges. Betfair charts showed the implied probability had been as high as 27.5 percent.
Paddy Power Betfair plans to rename as Flutter Entertainments to reflect its growing number of brands, the Irish-headquartered bookmaker said on Wednesday after announcing full year profit at the upper end of its guided range. The company in May agreed to merge its U.S. business with fantasy sports company FanDuel and in February bought a 51 percent stake in Adjarabet, an online betting and gaming company based in Georgia. "With a growing portfolio of brands, we plan to rename the Group as Flutter Entertainment plc," Chief Executive Peter Jackson said in a statement.
Paddy Power Betfair is to challenge tax bills from Germany and Greece worth a combined 55 million euros (49 million pounds), the bookmaker said on Wednesday. A German court has ordered the firm to pay 40 million euros in relation to Betfair Exchange, which operated in Germany until November 2012, it said in a statement. "The Group strongly disputes the basis of these assessments, and in line with the legal and tax advice we have received, is confident in our grounds to appeal," Paddy Power Betfair said in a statement.
A shutdown in British horse racing due to an outbreak of equine influenza is costing the bookmaking industry tens of millions of pounds, Betfair said on Friday, and could get much worse if the outbreak is prolonged. Race meetings will be postponed in Britain until at least the middle of next week because of the outbreak, the British Horseracing Authority said on Thursday. While all bets are off in the racing stakes, bookmakers have started taking wagers on how long the suspension will last.
A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** RBC double-downgrades Centrica to "underperform", as it says dividend cut is "inevitable", ...
Americans will be able to bet on Sunday's Super Bowl for the first time outside of Nevada without running afoul of the law. The National Football League championship game and biggest U.S. television event of the year will almost surely be the country's single biggest betting event of the year. It is expected to generate twice as much in legal wagers across the country as last year, following the opening of sportsbooks in seven more states.
A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** BofA Merrill Lynch raises Burberry Group to "neutral" from "underperform", as the brand's "heat" ...
Gamblers were far quicker than international finance markets in predicting the result of the 2016 EU referendum, according to new research. Economists at the University of Cambridge have completed a study which shows gamblers sensed the Leave vote would win up to an hour before currency experts in the City. This meant there was money to be made by hitting the bookies or foreign exchange markets earlier than traders actually did.
NEW YORK, Dec (Shanghai: 600875.SS - news) 18 (Reuters) - The National Basketball Association and fantasy sports provider FanDuel Group, a unit of Paddy Power Betfair Plc (Other OTC: PDYPF - news) , said on Tuesday they are expanding their existing partnership to include U.S. sports betting. The agreement makes FanDuel an authorized gaming partner of the NBA and allows the company to use the professional league's official game data and logos across its sports betting products. The past couple months have seen a spate of partnerships between U.S. professional sports leagues - though not yet the National Football League - and casinos and other sportsbook operators.
LONDON, Dec (Shanghai: 600875.SS - news) 12 (Reuters) - The betting odds have shifted sharply towards British Prime Minister Theresa May surviving a no-confidence vote on Wednesday after a leadership contest was called by lawmakers upset by her handling of Britain's planned exit from the European Union. The shift comes after a flurry of bets that she will win the vote and more than half of her Conservative Party lawmakers publicly backed the prime minister, meaning she would survive and cannot be challenged again for another year. The likelihood that May will the win the vote has risen to 89 percent, according to bookmakers William Hill (Frankfurt: 633847 - news) , Paddy Power (EUREX: 27913021.EX - news) and Ladbrokes (Amsterdam: LB6.AS - news) .
U.S. sportsbook operators on Tuesday announced the formation of a new national non-profit organization to help monitor integrity and fight fraud as the country's new sports wagering market expands. The group, called the Sports Wagering Integrity Monitoring Association, or SWIMA, will partner with state and tribal gaming regulators, law enforcement and other stakeholders. It is the first such group in the United States and aims to ensure "a safe and secure betting environment for consumers across the country," SWIMA Chief Integrity Officer George Rover, a former New Jersey assistant attorney general and gaming regulator, said in a statement.
GVC Holdings (Frankfurt: 6GI.F - news) shares surged on Wednesday after a government ruling on the UK gambling sector spared the company a major cash outlay to former Ladbrokes (Amsterdam: LB6.AS - news) shareholders. GVC would have been liable for a payment of about 670 million pounds ($870 million) to former Ladbrokes shareholders if legislation aimed at tackling problem gambling had not been introduced before the end of March next year, analysts said. GVC issued securities known as Contingent Value Rights (CVRs) as part of their takeover of Ladbrokes in March 2018.
** Paddy Power Betfair shares up 8 percent and on track for biggest one-day gain since May, extending earlier gains after government amends plans for gambling reform ** GVC up 7.8 pct, set for best day ...
Shares (Berlin: DI6.BE - news) in UK gambling firms hit their intraday highs and extended gains on Wednesday after Prime Minister Theresa May said the government would set out further details later in the day on changes to rules on fixed-odd betting terminals. At 1317 GMT, Paddy Power Betfair (Other OTC: PDYPF - news) shares were up more than 5 percent and on track for their best day since May. Before the comment by May in Parliament, shares were up 3.6 percent. William Hill (Frankfurt: 633847 - news) rose as high as 2.6 percent in a brief rally after the announcement.
The National Hockey League on Monday announced that FanDuel Group, a unit of Paddy Power Betfair PLC, would be an official sports betting partner. The multi-year, non-exclusive deal comes on the heels ...
Paddy Power Betfair (Other OTC: PDYPF - news) revealed an increase in revenue from controversial fixed-odds betting machines a day after a minister resigned over delayed plans to cut players' maximum stake. It said the cut to the maximum stake allowed on the machines would see revenues from them decrease by 33% to 43%, equivalent to £36m to £46m annually, or 2% to 2.6% of total group revenue. Fixed-odds betting terminals, on which users can gamble away up to £100 every 20 seconds, have been criticised by campaigners who say they are dangerously addictive.
Paddy Power Betfair (PPB.I), (PPB.L) lifted the bottom end of its full year earnings guidance range on Friday as a strong performance in its main online business outweighed a run of unfavourable sports results in the third quarter. It narrowed that range, which excludes losses at its newly merged U.S. sports betting business, to 465-480 million pounds after third quarter revenue grew by 12 percent and earnings were flat, pushing its shares up 1.8 percent by 0850 GMT. In Europe, the encouraging momentum that we saw in Q2 accelerated further, with online revenue up 15 percent," Chief Executive Peter Jackson said in a statement, crediting investments in products and marketing.