Flutter Entertainment Share Discussion Threads

[the white house] 16/2/2022 15:49

Major spend ended with the Super Bowl weekWith LA I think FD may have added close to 1m new punters in Jan. From now on the now significant US base will be able to absorb any launch costs from the smaller states that go live with ease

[solarman2013] 16/2/2022 15:43

key is the winding down of sick promos and focus on user experience where FD has the edge. They need to spend mooney on evolving the experience more than on promos. Customers get wise to the sucker and spend promos and focus on how satisfying the experience is.

[the white house] 16/2/2022 15:31

Michigan sports betting 12m for Jan' 2nd highest since opening igaming 17.6m thus far and grinding up by 1m per month as a rough guideGreat progress US contribution increasing %age wise every single month

[solarman2013] 15/2/2022 19:13

Counting down the days to announcement of update.

[the white house] 15/2/2022 18:55

NJ monster 2bn handle in first monthFD in latest week 130m handle, ahead of Caesars and DK on 87m showing clear lead for 2nd week running after promo confused first weeks1.76m unique player accounts opened. Extraordinary NY tax revenue of 70m which demonstrates a decent enough book revenue for what is just the start of a long relationship with the Big Apple

[the white house] 15/2/2022 18:46

30m rev in Dec in NJ Year total 452m (total 815m) up from 206m last year.Huge continuing momentum AND continuing remarkable market share lead in a maturing market

[solarman2013] 15/2/2022 14:15

i agree on harigoyal and so did the CEO of Flutter in his last address. FD is doing it better than any other.

[mip55] 15/2/2022 13:24

All about gaining market share and hoping to attract and retain clients. The promotions are probably not the biggest cost for the companies either - advertising on TV, Radio and social media costs a packet. The cost of a 30 second commercial on the Thursday Night Football show in 2021 was $624,000

[the white house] 15/2/2022 13:18

I got as far as I am incorrect A good place to stop

[harigoyal] 15/2/2022 13:09

Mip55 is right. Tax rate of 51% is for 9 bookmakers. My simple question is why bookmakers have to promote so heavily if there is no profit. Stop promotion. If revenue goes down, it will hurt both bookmakers & govt.

[solarman2013] 15/2/2022 12:49

Living in the real world , if these companies ALL lose money in NY, they will unite for change and the government will listen.

[mip55] 15/2/2022 12:15

The 51 percent tax rate is not misleading. It is fact and each of the 9 companies awarded sports betting licenses signed ten year contracts based on that figure. Had there been 13 operators awarded licenses then the tax rate would, indeed have been 35 percent.Once those contracts had been awarded - and Bet365 incidentally had their bid rejected - that was it. There is no provision for additional suitors so you are correct in saying the tax rate is temporary as it only lasts for ten yearsIf I am incorrect in this I am sure you will able to provide evidence of this

[the white house] 15/2/2022 10:07

The 51pc quotes are both misleading & temporary.With 4 more extra players it drops to 35pc for all future years in NY & with names like Bet365 still to join the fun, it will be a matter of months not years before this triggers a drop. The big players know this and as they are here for decades the 51pc start is doable

[mip55] 14/2/2022 21:52

https://www.legalsportsreport.com/63883/analysis-new-york-sports-betting-tax-rate/

[mip55] 14/2/2022 21:49

The contracts run for ten years in NY. That is what the companies signed up for - the prospect of that being available for re negotiation in a year are non existent. What Sen. Abbaddo has said is the sports betting companies will come back in five years time and tell the State they aren't making any money. The only winner in the game is going to be the State treasury. Of course other States are looking at what NY got away with but they would be extremely unlikely to get away with such a tax burden but - what they almost certainly will achieve is to make any promotions taxable - other States ,already sports betting legislated ,are already discussing putting time limits on how long companies can claim tax relief on these promotions

[harigoyal] 14/2/2022 21:19

These very high tax or revenue sharing will kill the whole idea of legalizing sports betting. In this Super Bowl also about only 1B is expected through legal book makers and balance is through illegal (bookies etc.). legalized betting has a long way to go but tax structure has to b fair to legal bookmakers also.

[solarman2013] 14/2/2022 20:46

NY was a prize that will be renegotiated in a year or so (even according to the politicians that got it across the line for Cuomo sake). Its not sensible and the big guns will refuse to pay it again. So Arkansas lawmakers can dream all the want, won't happen.

[harigoyal] 14/2/2022 20:38

As I anticipated more & more states will ask same deal as NY. See a tweet from Ryan Butler

Arkansas lawmakers could approve online sports betting as early as Wednesday, but a 51% revenue share mandate (industry standard is around 10%) with partner retail casinos could dissuade DraftKings, FanDuel, BetMGM and other major national brands from entering the state.

[solarman2013] 14/2/2022 19:43

agreed on all fronts. now just two weeks away from trading update...should see some rising as results from Super Bowl are made public.

[the white house] 14/2/2022 19:24

Yup, both Wynn and Caesars have said that a Rams win by less than 4 was the dream result. As an aside DK have said they paid out 175m in winning bets, so turnover levels not too shabby. No mention of losers amount tho but you would hope they were a fair way higher if they are throwing numbers around like that I think come results day we are in for a big reset of expectations upwards. Big spend out of the way and now self financing. huge level of new customers and strong base and the US percentage of profits going forward will be rapidly increasing and unstoppable

[solarman2013] 14/2/2022 13:43

Rams won but didn’t make the bet (4.5 points). That should be good for us ?

[harigoyal] 14/2/2022 13:28

Biggest betting event of the year is over. Let the dust settle down. Let us wait for actual hold numbers.

[solarman2013] 14/2/2022 12:16

Why are all the Sportsbook listed companies down a lot today?

[harigoyal] 14/2/2022 11:14

As of now FD is down 400 basis