RE: Good Results from Caesars last night5 Aug 2021 11:06
Hello Gewillia. Like you, I rely on fundamental analysis to select my investment in Flutter.
It was unfortunate that the management was unable to IPO its FanDuel subsidiary during the peak exuberance period over sports betting in the US in March, but the opportunity may present itself again, as the company has publicly declared its eagerness and willingness.
One dampening factor though is that it might not command as high a rating as it might have got in March - Draftking, which it benchmarks with, has fallen out of favour, having dropped by about a third from its March high, as investors are questioning the long term business models of pure sports betting companies.
I too held William Hill and sold them to Caesars in their takeover bid. I reinvested the proceeds in Caesars afterwards as I like the prospects for the company because, in addition to its newly acquired sports book, its huge Las Vegas casino properties and elsewhere in the US are prime destinations for staycation vacationers with the re-opening of the economy.
You have a good day.