Flutter Entertainment Share Discussion Threads

[solarman2013] 23/4/2024 13:09

Correct. Fan duel much higher hold , smart strategy.

[dapper5] 23/4/2024 12:46

Suspect DK are heavily reliant on high turnover low margin VIP play as reason why turnover share is high like Fanatics in NJ, not a great business model when its all about profit not turnover

[solarman2013] 21/4/2024 22:43

Top line is vanity. Profits are sanity.

[lappuliisa] 21/4/2024 22:02

DraftKings on top of this weeks NY handle, but with very poor win rate of 3.7%.
Fanduel reporting a solid 9.2% win rate, while other operators posted poor <5% figures.
This week Fanduel took home 59% of the states revenue with 36.5% of the handle. Good job Flutter!

[solarman2013] 18/4/2024 13:06

People selling FLTR at this moment are short sighte. or getting out of the stock that will not be primarily listed on LSE anymore. FLUTTER Is about to report a crazy growth quarter.

[pughman] 18/4/2024 12:20

The igaming numbers coming out of NJ,Penn and Michigan are staggering. My standout,Michigan March 24 FD produced a record $57.6m, beating the previous record from Feb this year of $48.4m, up 68.6% on Mar 23. It was also the first time since the icasino launch that BetMGM had not come top.

[dapper5] 18/4/2024 09:29

Interesting continued decline in the share price which seems to be driven primarily retail investors, institutional investors holding firm

[the white house] 17/4/2024 13:46

It is not effectively 100m when the first big betting event day or so after launch was North Carolina hoops team losing at 1/3. Been lucky last couple of launches with major instant punter losses

[pughman] 17/4/2024 08:35

N.Carolina out with first numbers since March 11 start. They don't release individual operator figures. 21 days trading, handle $659m, revenue $66.5m. Promos for these 3 weeks $202.6m, which based on their Ohio approach of over 50% of first month credits, means a $100m hit in Q1. FD do like to go in hard.

[the white house] 17/4/2024 08:24

14 March Q update looking decent & stratospheric rises seen in icasino looking like they will be able to get close to even offsetting the NJ tax rise from Jan 1 2025.Buy of the year the Minnie data firm behind this. Clever Added @ 157

[the white house] 17/4/2024 08:19

Michigan March Sports 34m from 36m last in Qicasino Q from 83m to 134mLast 3 icasino months 38,44 to 53m in March against 26,26,30 last year

[the white house] 17/4/2024 08:14

Strong data out of New Joisey & Mich : like London buses last nightNJ sports for month March 40m to 52mNJ icasino 43m to 57mNJ Q1 sports 120m to 200m NJ Q1 casino 120 to 161m

[lappuliisa] 17/4/2024 07:28

They were very clear on the conference call that their primary use of capital is to invest it back into the business. That will provide the highest return. It sounded to me that returning capital to shareholders is few years away.

[zwemnaar] 17/4/2024 07:05

don't read anything into share buy back. that is something that gets approved at each AGM as a matter of BAU. This is not an indicator that they are about to launch a share buy back

[vraetorian] 16/4/2024 21:51

Based on the voting instructions, it looks like Flutter intends to buy back their own shares from the market, once approved.
As well as making the change to the London Listing from Premium to Standard.. as we were all made aware from Press releases in 2023.

Great news for shareholders regarding that Buy Back - Seems like a solid foundation will form at $175(Flut:NYSE)

Maybe some future news on a Dividend will be made public too... (Fingers crossed)

[solarman2013] 15/4/2024 10:32

I think we should see some interesting corporate action as of May 1st. Earnings will be the most important metric so if they did well, retail investors will flood into the stock as soon as NYSE becomes primary. Still hoping for a name change …

[pughman] 15/4/2024 10:12

FD has been operating in NY for 2.5 years, and in that time Jackson has never given a breakdown of the numbers. As the state with the largest revenue and highest taxes, does it make money there. For the US 23/24 tax year in NY, FD's handle was $8.1bn and revenue $845.8m. State and Fed taxes amount to $451.6m. I've plucked out of the ether a figure of 85% to cover all costs and taxes, which is $719m, leaving $127 net profit. I have no idea how accurate these numbers are, but I'd say in the state with the highest taxes FD is making a decent return.

[lappuliisa] 12/4/2024 19:12

In the last 5 days all gambling companies (PENN, MGM, DK, Flutter, Caesars) have come down between -6-8.4%.

[lappuliisa] 12/4/2024 19:06

I bought my first shares in Flutter after their Q3. Shares dipped -10% after Flutter announced that they won't hit their revenue and ebitda US targets.
Then came Q4, in which they effectively admitted that they missed their targets even more due to customer friendly results. Markets reacted +25% to Q4 which I think was very unusual.
Then came annual report with negative Pokerstars value adjustment. Reaction was +/- 3% in both directions. I was expecting much worse for a result of -1.2 billion $.
I'm happy to see a correction and I'm gonna buy more. The Q4 reaction was premature in my opinion. Their 2024 guidance & Q1 up to date numbers would have deserved that reaction.

[lappuliisa] 12/4/2024 18:54

One thing I didn't know about DraftKings is that they still have 1.2 billion $ in cash from going public. That's the same level as their current debt, making the company effectively debt free. They will go debt positive with 750m JackPocket acquisition.
Flutters net debt is 4.4 billion £ or 5.56 billion $.
DraftKings is a little safer in this regards, but Flutters ex-US business is a cash cow.
2024 will be the turnaround year, we will see just how much profit they are able to generate.
2024 also has COPA America and European Football Championship. These are 2 events that DraftKings can't benefit from.

[solarman2013] 12/4/2024 16:10

I believe its rather than NON US funds and other investors dont want or cant be in a primary NYSE listing. It's just uncertainty that causes jitters. so any news will be seen as negative, despite their unreal performance.

[foreverfore] 12/4/2024 15:40

Leaving aside fundamentals noted such as tax increase, the difference in beat between FLTR and DK could be because there is a one year period coming up where FLTR is about to be drooped from Euro indexes (not having LSE as primary) and a wait period before it is on US indexes. Frustrating

[rkeck] 12/4/2024 09:03

I’d welcome other insights if people have them on the reason for the recent significant fall in the share price.

[rkeck] 12/4/2024 09:01

Hi Dapper, I’m only venturing my point of view so hope we can maintain a cordial exchange of views. DraftKings share price (as you know) has been on a very steep climb for a very long period but did fall materially on the day New Jersey senator (John McKeon) proposed the tax increase and he has now introduced the bill to get this done. My worry is that other states will see this industry as easy pickings following the NY model (Illinois have already done this). I am far more worried about tax increases than competition stealing market share and I agree with you regarding the poll (not significant although not impossible the market perceived it as a negative).

[dapper5] 12/4/2024 08:45

If A and B of your hypothesis were correct it would have had a material impact on Draftkings share price as it is not diversified beyond the US. Re C, Fanduel is the number 1 OSB and iGaming operator in the US, the numbers don’t lie. The poll you refer to had 554 responses, hardly statistically significant.