Flutter Entertainment Share Discussion Threads

[rkeck] 19/6/2024 09:47

Does anyone know if promotional spending has already been deducted when we read Fanduel’s hold figures?

[lappuliisa] 18/6/2024 14:11

Millennium International Management LP took short position in Flutter on 22nd of April and closed it succesfully on May 31st. That short position grew from 0.51% to 1.80%. The stock went up only 1.64% during this time. They must have made fortunes from the forced institutional selling on May 31st.
Currently there are no major short positions on Flutter, but that may help explain poor share performance during spring.

hxxps://shorttracker.co.uk/company/IE00BWT6H894/

[rkeck] 17/6/2024 20:25

Thanks Lappulisa (that explains all of link forward failures). The Florida news seems very material in potentially opening up 2 of the largest states (based on many articles I’ve read this afternoon). We seem back on track with this news coming alongside NJ decline on lifting tax rate.

[rkeck] 17/6/2024 20:18

Just read on a different forum “ The preliminary NJ budget proposal came out and a sports betting / gambling tax hike was not included. This is an obvious relief following the progressive hike from IL last month”. Big day.

[lappuliisa] 17/6/2024 20:18

Rkeck - Forum automatically filters links that way, so they can't be directly opened.
It was good day for the bookies. DraftKings & Flutter up, same with Betsson in Europe. I'm not sure why they're up today. Betsson rally started and finished before US stock market opened.

[rkeck] 17/6/2024 18:11

Apologies for incorrect link. Share price up another £3 (so far) post London close.

[lappuliisa] 17/6/2024 16:59

Change hxxps to https in the URL and it will work

[solarman2013] 17/6/2024 16:42

invalid link

[rkeck] 17/6/2024 16:33

hxxps://x.com/dan_back/status/1802708561912266814?s=46

[rkeck] 17/6/2024 16:02

Thanks Whitehouse. This news is above my paygrade. Can you explain the upside re: California?

[the white house] 17/6/2024 15:34

Courts have delivered a Tribal ruling for Florida which, although seemingly not good for FL, MAY be better news for California...

[rkeck] 15/6/2024 21:26

Perhaps the main books feel they can do more on price (odds) bearing in mind the low tax rate ie reduces hold %. Inverse argument about potentially less competitive market in Illinois.

[lappuliisa] 15/6/2024 20:15

Arizona handle is growing slow, but FanDuel has good margins there.
Arizona legalized in September 2021 so it's a more mature market.

[lappuliisa] 15/6/2024 19:58

Kansas - April handle up 53%. May handle up 45%.
Hold rate 8.13% April, 9.67% May. A little subpar performance there.
Hold rate for this fiscal year is 6.22%, for DraftKings 5.23% Tax rate is 10%, I wonder why the performance is that weak.

hxxps://www.kslottery.com/publications/sports-monthly-revenues/

[rkeck] 15/6/2024 07:44

Genuine question (not being facetious) - if Flutter’s share price is materially suppressed by all of the issues mentioned in recent comments, doesn’t this set up a great buying opportunity? Buffett (my hero) has always been clear that the market is a voting platform in the short term but eventually will 100% reflect the profitability of the company. I am not dismissing the concerns raised .. just think we have an opportunity.

[solarman2013] 14/6/2024 20:44

The issue is that the listing may have made NYC primary but the mentelitynhas remained quite British. Wrong culture to lead a NYSE stock that has an awareness deficiency

[lappuliisa] 14/6/2024 20:35

Playtech and Entain have similar low numbers. I think the issue is that stocks from London are not well known.

[lappuliisa] 14/6/2024 19:50

I'm a nordic investor and Nordnet is a big stock trading platform here.
DraftKings has 729 owners at Nordnet. Flutter USA has 6 owners and LSE 26.
It is an issue that Flutter is not known. I'm doing my job to promote it.
I guess we just gotta wait 2 months until Q2 results. I'm holding long. It's hard to find another business that has organic growth at this rate.

[solarman2013] 14/6/2024 19:21

Jack, since i bought into Amaya in 2010, I have followed the bouncing ball. A public CEO has two hats. Period.

[1jackspratt] 14/6/2024 19:14

Oh yeah a company only succeeds because of its "marketing". What kind of foolishness is that? This is not GameStop, this is a company with solid fundamentals and for the long term. If you care what country their CEO is in, you are in the wrong stock.

[solarman2013] 14/6/2024 18:10

guys, there is no doubt that the Flutter algorithms are doing better at hold. why do we have a CEO based in Ireland when most of the action is in the USA and who isn't present to do proper on-site marketing of our company?

[lappuliisa] 14/6/2024 17:44

Q2 New York handle up 27.5% YoY. Revenue up only 20% because last year was exceptionally good with 12.4% hold rate.
Hold rate for Q2 this year so far is 11.65%, above 10.5% averageish.

[lappuliisa] 14/6/2024 15:34

13.26% hold in New York this week. Q2 will be very good for the sportsbook results.

[dapper5] 14/6/2024 13:08

IR team need to be sacked, every publicly available metric is highly positive, yet this isn’t being conveyed in a succinct manner to the market. What’s the new US based chairman doing to add value? No 2 in the market , DK getting extensive broker coverage and publicity, stealing the limelight.