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Why are the biggest gambling companies struggling?
Flutter and Tabcorp warn investors to brace for lower returns and a softer market this financial year. Between looming federal changes, increased state taxes and the inflated cost of living, there's a lot of uncertainty ahead for the once recession-proof industry.
Why are the biggest gambling companies struggling? Flutter and Tabcorp warn investors to brace for lower returns and a softer market this financial year. Between looming federal changes, increased state taxes and the inflated cost of living, there's a lot of uncertainty ahead for the once recession-proof industry.
Flutter lowers full year earnings forecast, shares tumble Flutter sees FY EBITDA growing to 1.44 bln pounds * Q3 revenues up 13% on constant FX, Australia a drag. Dublin-based group to delist from Euronext Dublin when it adds New York listing.
Flutter sees FY earnings at bottom of range, to delist... Flutter expects full-year earnings excluding the nascent U.S. market to be at the bottom of its previously forecast range. The Dublin-based group also announced plans to delist from Euronext Dublin when it adds a New York listing in the first quarter of 2024.
BUSINESS LIVE: Chapel Down seeks AIM listing; OnTheMarket takeover row; Taylor Wimpey ups guidance The FTSE 100 will open at 8am. Chapel Down, OnTheMarket, Taylor Wimpey, S4 Capital, B&M, Flutter and WH Smith are among the companies with reports and trading updates today.
Flutter shares fall after disappointing earnings — but it insists FanDuel is No. 1 in sports betting FanDuel parent Flutter says it's the market leader in sports betting in the U.S. DraftKings last week boasted it had taken over the top slot. FanDuel's revenues failed to meet Wall Street expectations in the third quarter.
DraftKings edged out FanDuel for the first time as the market-share leader in US online gambling, a new report shows DraftKings has taken the top spot in the US online gambling market, a new report shows. FanDuel's market-share lead had dipped to 30%. The Flutter-owned company still leads in US online sports betting.
Flutter eyes Balkan expansion with acquisition of Serbia's MaxBet Fanduel and Paddy Power owner Flutter said on Wednesday it had bought an initial 51 per cent stake in Serbia's number two sports betting and gaming operator MaxBet. Flutter, the world's largest online betting company, said the 700 million euro Serbian betting market is attractive due to its relatively low online penetration.
Flutter eyes Balkan expansion with acquisition of... Flutter has bought an initial 51% stake in Serbia's number two sports betting and gaming operator MaxBet for 141 million euros. Flutter said the deal aligns with its strategy to target fast-growing, regulated markets where it can combine local expertise with its global pricing and technology.
Healthy Dublin stock market is in our best interest CRH and Flutter are heading stateside as that market is now their main centre of interest and source of opportunity. Smurfit Kappa is planning a $19 billion merger with an American peer, WestRock.
‘Tone deaf’: MPs call for University of Sydney to return gambling research money University of Sydney's Centre of Excellence in Gambling Research will be funded by a $600,000 investment from the International Centre for Responsible Gaming. The centre is also financially supported by Australian wagering giant Sportsbet, which is owned by Dublin-based company Flutter, and Entain, which runs the Ladbrokes and Neds brands in Australia. The university has defended the sponsorship and a spokesperson said the partnership would deliver more useful research informed by de-identified data.
New York is becoming a graveyard for Britain’s best entrepreneurs Arm is expected to float in the American market as soon as next month. Flutter, which owns Betfair and Paddy Power, plans to list in New York.
New York is becoming a graveyard for Britain’s best entrepreneurs The queue of ambitious British companies planning a New York listing grows longer all the time. Arm is expected to float in the American market as soon as next month. Flutter, which owns Betfair and Paddy Power, plans to list in New York as well as London.
UK stocks' record discount fuels fears of exodus to Wall Street Britain’s equity market is trading far lower compared to the rest of the world. Figures will fuel fears of a further exodus of British companies to Wall Street. CRH and Paddy Power-owner Flutter are both preparing to move primary listings from London to New York.
Flutter's US bet drives first half profit 76% higher Flutter's first half core earnings jumped 76% as its fast growing U.S. Fanduel brand turned a profit for the first time. The Dublin-based company said this made it the first online betting operator to turn a profit in the United States. Flutter's shares were 4.7% lower in early trade.
Coroner condemns `inadequate´ protection of gamblers... Luke Ashton, from Leicester, died in April 2021, having racked up debts of £18,000. An inquest in June found that, despite his debts, the 40-year-old was not deemed by Betfair to be a problem gambler. Coroner Ivan Cartwright said Betfair and its parent company, Flutter, “did not take any measures’ to curb Mr Ashton's gambling.
Coroner slams Betfair for failing to protect man who took own life Luke Ashton, from Leicester, died in April 2021, having racked up debts of £18,000. Despite his debts, the 40-year-old was not deemed by Betfair to be a problem gambler. Coroner Ivan Cartwright said Betfair and its parent company, Flutter, “did not take any measures’ to curb Mr Ashton’s gambling.
Bookmakers to celebrate King’s coronation by donating Royal Ascot flagship race profits with six charities... Firms will hand over all profits made from win and each-way bets, after levy and duties are deducted, from the Britannia Stakes on Thursday at next month's festival. SportsAid, whose Patron is Her Royal Highness the Princess of Wales, the Holocaust Educational Trust, Cystic Fibrosis Trust, SAS Regimental Association (SASRA), Ascot Racecourse Supports and Together for Looked After Children will all benefit from the initiative. Flutter - who own Paddy Power, Betfair and Sky Bet - bet365, Entain (Ladbrokes and Coral owners), 888 William Hill, Kindred (Unibet), Betway, Virgin Bet, LivescoreBet, Tote, Fitzdares and Bet with Ascot have all signed up to take part.
Paddy Power and Betfair fined £490,000 by UK gambling regulator Bookmakers fined for sending promotional notifications to online customers who had opted out of marketing service. Chief executive of Flutter in the UK and Ireland, Ian Brown, apologised for the company's mistake.
Flutter Q1 revenues jump 29% as U.S. races ahead again Flutter grew its revenue by 29% on a pro-forma basis in the first quarter. This was driven by a 92% jump in its fast growing U.S. unit. The Paddy Power, Betfair and Sky Bet owner also expanded its revenue in the UK and Ireland.
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