Flutter Entertainment Share Price (FLTR)

Https://www.proactiveinvestors.co.uk/companies/news/1034197/flutter-and-entain-see-forecasts-scaled-back-as-us-competition-hots-up-1034197.html

Two viewpoints here. Yoy Q3 growth for DK of 57.4% and FD 11.7%, or as Jackson seemed keen to push yesterday FD NGR of 47% which is 50% higher than DK. The market voted, even though DK continues to burn through its cash, they have momentum. With both claiming to be No1 in the OSB market, and ESPN and Fanatics about to enter the market, the next 6 months with the New York listing will be an interesting watch.

Well… when I read the update it was kind of in line with what was expected. My last three months betting on sports was profitable so it was no surprise to me that they said results had been customer friendly. Revenue increasing is good although if customers have been winning they would bet more as they have winnings to bet with, so I don’t read too much into that. The American side of the business is still Flutter’s best part of the business by a long way in terms of potential. I would hope to see some good profits soon, I get that they have to spend a lot on advertising and promotions to attract new customers, hopefully in time that will be lucrative although will have to wait and see what obstacles the US government throw at gambling companies and how many competitors enter the market.

I think the drop today is over done but there is unlikely to be much news for a while now so I think the share price has more downward pressure on than upward momentum. Got a feeling this may slide back to £100 a share in the coming months but it’s a difficult one to predict.

Https://www.proactiveinvestors.co.uk/companies/news/1032022/flutter-boosted-by-performance-of-us-rival-draftkings-1032022.html

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