Flutter Entertainment Share Discussion Threads

[the white house] 24/5/2024 08:24

DC gross revenue up just the 887pc 5m in first 30 days since FanDuel took over over the reins

[rkeck] 24/5/2024 05:51

After the Massachusetts senator spoke for 20 mins in support of the tax rise to 51%, it was unanimously voted down within 2 minutes. Flutter price had been falling quite a bit before some recovery before US close.

[pughman] 23/5/2024 23:07

FD back on top in NY w/e 19.5.24 handle $180m, rev $27.2m, hold 15.1%. Last year handle $124m, rev $7.4m.

[solarman2013] 23/5/2024 16:57

This is expected and par for the course everywhere in the world where betting or gaming is legal. Industry lobbies as it always does and compromises are made to that illegal betting doesn't have a better chance.

[pughman] 23/5/2024 15:57

Massachusetts have introduced an amendment to increase the OSB tax rate from 20% to 51%. With hold rates across the board well above the 7-8% average, it's expected and the direction of travel.

[the white house] 23/5/2024 15:14

21m pound seller gone through..DraftKings down another 4pc, have dropped from 49 to 41 since April 1. Not helping. More US trades here by the day and getting dragged down in sympathy

[rkeck] 22/5/2024 15:32

Lengthy article about Flutter in the Sunday Times (19th May) in case people can access it (just found it online). Very useful summary of the main risks and upsides for the stock.

[solarman2013] 22/5/2024 12:43

I think it was just a typo as the percentage increase (huge) is correct.

Let’s hope for news on April by NYSE primary date.

[the white house] 22/5/2024 12:29

Good spot, poor addition

[solarman2013] 22/5/2024 11:59

TWH

it’s 61 vs 40 in Michigan.

[rkeck] 22/5/2024 10:12

Total guess but I wonder if the Millennium short is purely driven by an anticipated share price fall on the day Flutter drops out of FTSE100 Index? I infer we all believe that this will be more than offset by new institutional US investors but perhaps Millennium anticipate a small time gap between the 2 (for them to close out the position). This is very speculative and I’m likely miles off … ignore me!

[pughman] 21/5/2024 23:27

Penn igaming revenue for April $212.2m. FD and Stardust share the Valley Forge licence had rev of $59.8m. Operators can deduct promos from GGR. Jackson said slots are growing fast, Penn tax them at 54% and tables 16%. Anyone know how much FD pay Boyd Gaming to use their Stardust casino brand?

[the white house] 21/5/2024 21:06

Michigan April FanDuelSports 15m up from 12m last yearIcasino 46m up from 28m Combined 61m Vs 50m50pc Year on YearDK 30pcSports hold rates look like 12/14 pc for the month, way above average of 8pc'April trading ahead of forecast' will be the message on 31 May

[solarman2013] 21/5/2024 12:29

I am hoping there is an IR campaign planned for opening day on NYSE as primary listing.

[the white house] 21/5/2024 12:13

Their opening position was £137m @ £149 for .51pc around 25 AprilThis position is down £13.5m right now Suckers for punishment increasing last weekGood money after bad

[solarman2013] 21/5/2024 12:03

Either they know something we don’t or they have a bet based on exaggerated expectations which I think is a losing one

[the white house] 21/5/2024 10:48

They are the only player above .5pc and as they have increased short interest no one else has joined in. Which often happens. And worryingly from them their selling has not stopped the price from rising Whoever they are they only have the same or less visibility on numbers than there is on here.Indeed their last buy sits at a loss of GBP £90m in a weekIf they are solely in on revenue and profitability they are going to lose a fortuneTheir play may be on NY 31 May and sellers coming in soon after. I take the opposite view that retail US players will come in and by its very nature as some will not hold yet There are 3 holders with 5X their holding and one with 10X Capital Group and none have reduced in a year. Rock solidI held a London share Keywords yesterday and a London hedge only held 1 large (above .5pc) short and it opened up 24 from 14 overnight. They lost 20m overnight.

[rkeck] 21/5/2024 08:27

Just read that Millennium (one of largest global hedge funds) appears to have a short position of around £410m (1.4% of shares) on Flutter. I couldn’t disagree more with their implied view but this is a worryingly shrewd adversary to be opposing.

[rkeck] 20/5/2024 12:57

Disappointing news from Minnesota that it wasn’t even able to vote on passing the necessary legislation to legalise online gambling. We have quite a hiatus on new states now which will be good for shorter term earnings but negative on longer term.

[pughman] 17/5/2024 16:56

Record revenue from NY w/e 12.5 of $70.9m, with FD $26.9m, against $21.4m last year. DK had a record for any individual operator since NY launched of $36.5m. Not sure if there was a special event that they were promoting.

[solarman2013] 17/5/2024 14:25

FD is making all the right moves. Starting May 31st, we deserve the multipleso others, at the very least. We are nowhere near that. If Flutter does a good IR job (not their traditional forte), we are looking at a new game. I would absolutely love a name like Fan Duel Entertainment for the corporation and a new symbol FAND. Synergy between marketing is important. DK, MGM, CAESARS benefit from that. SO should we.

[the white house] 17/5/2024 14:19

Great post, good that exact data now available & can be tracked more accurately going forward. I presume that as the jump at Meadowlands was 45pc odd that FD have had a decentgood/v good month YoY and DK & BetMGM less so with Fanatics (inc PointsBet now) surprisingly to me in 2nd sport for sports Head Office in Park Av now officially on website. End of an era

[pughman] 17/5/2024 09:36

TWH, those NJ figures for FD are wrong. FD are part of the Golden Nugget igaming licence who had a revenue for April of $53.1m and FD's share was $39m. For sports FD are part of the Meadowlands licence with rev for April of $73.1m, with FD's share $37.9m. They started to give individual operator numbers in March. I agree the numbers are strong and NJ FD rev for 24 could top $1bn, to date it's $334.6m.

[rkeck] 17/5/2024 08:31

Thanks Whitehouse. I think the potential state tax rise in NJ could be significant. If FD, DK can find a way to block it (and they are exploring many ways) it will hopefully stop a precedent for other states to use the industry as a goto source of increased revenue.

[the white house] 17/5/2024 08:20

New Jersey numbers remarkable April YoYFD sports 38m UP to 73m Icasino 41m to 53mDraftKings sports 20m DOWN to 19mIcasino 42m to 47mBetMGM sports 7m DOWN to 5mIcasino 43m to 44mDraftKings sold off late last night in NY as figures were picked up on dragging whole sector down Decent timing to launch in US with NJ sports FD revenue 73m out of total 106m for all, the highest share I can ever recall