If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksFlutter Entertainment Share News (FLTR)

Share Price Information for Flutter Entertainment (FLTR)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 16,245.00
Bid: 16,240.00
Ask: 16,250.00
Change: 200.00 (1.25%)
Spread: 10.00 (0.062%)
Open: 16,265.00
High: 16,425.00
Low: 16,150.00
Prev. Close: 16,045.00
FLTR Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Flutter forecasts 30% earnings jump in 2024 as US takes off

Tue, 26th Mar 2024 08:29

DUBLIN, March 26 (Reuters) - Flutter, the world's largest online betting company, said on Tuesday it expects to increase its core profit by around 30% this year thanks to a four-fold rise at its fast-growing and market leading U.S. brand Fanduel.

Analysts at Jefferies said Flutter's forecast for 2024 was broadly as expected. Shares in Flutter, whose brands include Paddy Power, Betfair and Sportsbet in Britain and Australia, rose 1.8% in early trading.

"If you look at the midpoint of our guidance and compare it to our next biggest competitor, the gap actually appears to be rising in terms of the size of our revenues," Flutter CEO Peter Jackson told Reuters in an interview.

Flutter expects U.S. core profit of $635 million to $785 million versus last year's $167 million, which represented its first full year of profitability in the United States, where a ban on sports betting was lifted in 2018.

It expects core profit of $1.63 billion to $1.83 billion in its others markets. That compares to $1.71 billion in 2023, which Flutter said was in line with its guidance.

Flutter, which gave a fourth quarter revenue breakdown in January, said group revenue grew by 23% in the first 11 weeks of 2024, driven by a 56% increase in the U.S. through record engagement in February's Superbowl.

Fanduel, Flutter's biggest brand by revenue, has a 43% share of the U.S. online sports betting market versus Drafking's 36%, with BetMGM, the joint venture between MGM Resorts and Entain, a distant third place.

Jackson said the "very strong" growth so far in 2024 came despite the recent entry of new players, including sports merchandise group Fanatics and ESPN Bet, which casino-owner Penn Entertainment and Walt Disney launched with aggressive growth ambitions last November.

"We don't underestimate how hard it is to compete with us," Jackson said, citing Flutter's decision last year to shut its other, much smaller U.S. brand FOX Bet.

Flutter increased its share of the online U.S. gaming market to 26% last year and said on Tuesday that it became the market leader in that segment too in January.

Year-to-date revenue was up 3% in its international division and 17% in the UK and Ireland, where its market share rose to 30% last year. Revenue fell 8.8% in Australia, where Flutter expects further reduced profitability in 2024 as a result of trading and regulatory headwinds. (Reporting by Padraic Halpin; editing by Jason Neely, Kirsten Donovan and Alexander Smith)

More News
11 Aug 2023 09:52

LONDON BROKER RATINGS: Deutsche cuts Domino's Pizza; RBC lowers CVS

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

Read more
10 Aug 2023 10:08

LONDON BROKER RATINGS: Bank of America upgrades Quilter to 'neutral'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
9 Aug 2023 17:36

UK's FTSE 100 rises as energy and mining stocks rally on China stimulus hopes

Coca-Cola HBC gains after raising annual sales forecast

*

Read more
9 Aug 2023 16:58

LONDON MARKET CLOSE: Stocks bounce back; eyes on US inflation figures

(Alliance News) - Stocks in London were largely higher at the close on Wednesday, as deflationary news from China failed to dent market mood despite pointing to further weakness from the world's second largest economy.

Read more
9 Aug 2023 16:16

FTSE 100 movers: Commodity stocks rise, Hiscox sinks

(Sharecast News) - Mining stocks were up across the board on Wednesday, clawing back losses after a poor showing the previous session as weak economic data from China fuelled concerns over demand.

Read more
9 Aug 2023 12:09

LONDON MARKET MIDDAY: FTSE 100 perks up despite troubling China data

(Alliance News) - Stock prices in London were higher at midday on Wednesday, shaking off more disappointing China data, while focus turns to Thursday's US inflation reading and what that could mean for future Federal Reserve decisions.

Read more
9 Aug 2023 09:11

LONDON MARKET OPEN: Europe unfazed by underwhelming China data

(Alliance News) - Stock prices in London opened higher on Wednesday, despite another batch of disappointing data from China, as the world second-largest economy slumped into deflation.

Read more
9 Aug 2023 08:30

TOP NEWS: Flutter US arm delivers but Australia showing less emphatic

(Alliance News) - Paddy Power owner Flutter Entertainment PLC on Wednesday said its US arm reached an "inflection point", helping the gambling firm swing to a first-half profit.

Read more
9 Aug 2023 08:27

Flutter's US bet drives first half profit 76% higher

DUBLIN, Aug 9 (Reuters) - Flutter's first half core earnings jumped 76% as its fast growing U.S. Fanduel brand turned a profit for the first time in a "transformation point" for the group's prospects, the world's largest online betting company said on Wednesday.

Read more
9 Aug 2023 07:58

LONDON BRIEFING: Flutter US arm shines; Hiscox profit surges

(Alliance News) - Stocks in London are called to open higher on Wednesday, after some positive earnings from large-cap listings, though tepid data from China kept a lid on sentiment in Asia.

Read more
9 Aug 2023 07:08

Flutter Entertainment swings back to first-half profit with impressive US growth

(Sharecast News) - Gambling giant Flutter Entertainment reported a return to first-half profitability on Wednesday, after a period of substantial growth, particularly in the United States.

Read more
2 Aug 2023 15:46

UK earnings, trading statements calendar - next 7 days

Thursday 3 August 
Helios Towers PLCHalf Year Results
Hikma Pharmaceuticals PLCHalf Year Results
Irish Residential Properties REIT PLCHalf Year Results
London Stock Exchange Group PLCHalf Year Results
Mears Group PLCHalf Year Results
Mondi PLCHalf Year Results
Morgan Sindall Group PLCHalf Year Results
Next PLCTrading Statement
Omega Diagnostics Group PLCFull Year Results
Pantheon International PLCFull Year Results
Pets At Home Group PLCTrading Statement
Rolls-Royce Holdings PLCHalf Year Results
ScS Group PLCTrading Statement
Serco Group PLCHalf Year Results
Shaftesbury Capital PLCHalf Year Results
Smith & Nephew PLCHalf Year Results
Tritax Big Box REIT PLCHalf Year Results
TT Electronics PLCHalf Year Results
Walker Crips Group PLCFull Year Results
Wizz Air Holdings PLCQ1 Results
Friday 4 August 
Capita PLCHalf Year Results
Renewables Infrastructure Group LtdHalf Year Results
WPP PLCHalf Year Results
Monday 7 August 
HydrogenOne Capital Growth PLCTrading Statement
Kosmos Energy LtdHalf Year Results
PageGroup PLCHalf Year Results
Tuesday 8 August 
abrdn PLCHalf Year Results
Glencore PLCHalf Year Results
H&T Group PLCHalf Year Results
InterContinental Hotels Group PLCHalf Year Results
IWG PLCHalf Year Results
Quilter PLCHalf Year Results
Rotork PLCHalf Year Results
SDI Group PLCFull Year Results
SIG PLCHalf Year Results
TI Fluid Systems PLCHalf Year Results
Zotefoams PLCHalf Year Results
Wednesday 9 August 
4imprint Group PLCHalf Year Results
Arix Bioscience PLCHalf Year Results
Bank of Cyprus Holdings PLCHalf Year Results
Bellway PLCTrading Statement
CLS Holdings PLCHalf Year Results
CML Microsystems PLCTrading Statement
Coca-Cola HBC AGHalf Year Results
Flutter Entertainment PLCHalf Year Results
Hargreaves Services PLCFull Year Results
Hill & Smith PLCHalf Year Results
Hiscox LtdHalf Year Results
MaxCyte IncHalf Year Results
Polymetal International PLCTrading Statement
RM PLCHalf Year Results
Secure Trust Bank PLCHalf Year Results
TP ICAP Group PLCHalf Year Results
Tui AGQ3 Results
Vaalco Energy IncHalf Year Results
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
31 Jul 2023 07:56

Flutter, Fox to close betting platform FOX Bet

DUBLIN, July 31 (Reuters) - Online betting firm Flutter Entertainment and broadcaster Fox Corporation will close U.S. sports betting platform FOX Bet, the companies said on Monday.

Read more
18 Jul 2023 09:21

LONDON BROKER RATINGS: JPMorgan sees positive catalysts for Flutter

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

Read more
18 Jul 2023 07:48

LONDON BRIEFING: Ocado backs annual guidance as interim loss widens

(Alliance News) - Stocks in London are set to tread water on Tuesday, as investors look ahead to US corporate earnings and economic data.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.