Flutter Entertainment Share Discussion Threads

[the white house] 30/5/2024 14:28

Judging by NY April & 3 weeks of May I think one state increase can be absorbed. Looks like a decent launch statement is at the printers Manana

[solarman2013] 29/5/2024 11:06

I bet they do.

[pughman] 29/5/2024 10:56

The Illinois House finally passes HB4951. Jackson said on Q1 results they'd be sticking to guidance, they won't be now.

[solarman2013] 29/5/2024 10:49

The black market only attracts a certain kind of bettor

[rkeck] 29/5/2024 08:48

I’m not sure it is that easy. There is a massive black market out there only too happy to take advantage of an uncompetitive legal market. It’s hard to gauge how much of this loss (nearly $100m off bottom line in year 1 alone) can be mitigated with reduced promos/worse odds.

[dapper5] 29/5/2024 08:40

The impost will get past onto the customer, as it has been done many times before in other jurisdictions.

[solarman2013] 28/5/2024 16:05

Stay put or buy . Many ways to mitigate this

[djderry] 28/5/2024 15:59

I'm a long term investor and I hold my stocks for the long term.I don't get frightened by short term noise.

[the white house] 28/5/2024 12:20

Not a day to be long here with DK looking to open 8.6pc down.Move to NY has coincided with no visible new states opening up for either sports gambling which definitely was not in the plan and iCasino completely stalked which was not either. And the monsters stalled.And now the existing are looking at all options to increase taxes/reduce revenue without need adding icasino which seems a no brainier in you want more taxesStreets of America no longer paved with gold it seems & the steady move to 50 to 60 to 70pc revenue from FD remarkably coming into doubt. With Brazil etc opening up and India and Eastern Europe growing a move back to Dublin HQ may be on the cards

[solarman2013] 28/5/2024 09:08

TaXES ARE ONLY PAID IF THEY MKE MONEY

[rkeck] 28/5/2024 08:30

Pughman - I have to thank you for alerting me to this news last night as I too sold my entire stock just after 8am this morning. To say with “… a heavy heart” would be an understatement as I have held this stock (originally betfair) since 2014 and made up over 50% of my SIPP fund. Put simply, I underestimated the probability of US states hiking tax rates and I simply don’t have the skillset to understand how likely this bill is to succeed and more importantly, to be copied in other states. I am genuinely gutted as I planned to hold this stock until I was long retired (currently 53).

[solarman2013] 28/5/2024 08:23

Trade unions come out against it

[pughman] 28/5/2024 08:10

Sold up this morning on the expectation the Illinois House passes the proposed progressive new tax rate which punitively targets FD and DK. FD paid $63m in taxes in Illinois last year, with this tax it would have been $149m. NJ will be next to increase taxes, FD will reduce marketing, promos in Illinois and lose market share, and others on lower tax rates will grab it.

[solarman2013] 27/5/2024 19:23

the multiples for companies like flutter are much higher on NYSE than LSE. its going up.

[rkeck] 27/5/2024 18:59

I am not sure how likely this amended sportsbook tax rise from Illinois is but it feels like a brutal step. Tomorrow morning will not be pretty … I expect the price fall to be painful.

[pughman] 27/5/2024 01:04

Progressive tax rate proposal put forward in Illinois with a top tax rate of 40% which will screw FD and DK, but leave the second tier operators relatively unaffected.

[solarman2013] 26/5/2024 19:31

Watch this baby fly soon after nyse primary listing

[lappuliisa] 26/5/2024 19:19

The case is called: Eccles v. Shamrock Capital Advisors, LLC

[rkeck] 26/5/2024 19:03

Merism - you’re quite right. I misunderstood it. Thanks for clarifying.

[merism] 26/5/2024 17:17

I may be wrong, but Flutter aren't involved in the FD dispute - isn't it between Eccles and the private equity firms?

[rkeck] 25/5/2024 09:42

Whitehouse - do you share my understanding that the max liability to Fanduel founders is $120m? Just want to check I’m not missing something.

[the white house] 24/5/2024 08:32

My numbers are the best ever for 6 weeks which augurs well across whole US. This will be mentioned as they ring the bell in NY next week (of whatever they do)

[the white house] 24/5/2024 08:27

Great news, this increase malarkey was gaining a bit of momentum. reduces competition as well as FD revenue so hopefully halts a few others that may have followed

[the white house] 24/5/2024 08:25

Another NY appeal over the Paddy FanDuel takeover pops up the week before NY launch