fox are simply business people looking to exercise at the option price. they need to be a licensed operator in a state, is that enough. time will tell yet as fan duel and flutter keep growing, they will attract international operators more and more. |
here is what fox stated
hxxps://www.casino.org/news/fox-plans-to-take-fanduel-stake-at-2-2-billion-discount/
while this might not happen, it definitely ups our value and cash positioon to make further acquisitions internationlly. the only question is does jackson need to give up the 18% of fan duel and how to manage the relationship. |
Plus a lot of cash to buy Penn online Brazil and italy |
What does this change other than a vote of confidence |
Reports suggesting that Fox are looking looking down the back of the sofa to come up with the 4.5bn bucks needed to acquire the 18.6pc of FD option. |
NFL week 1 viewing highest ever for ANY week in history |
Anyone else seeing what I'm seeing in the charts?
The next few months should be interesting |
Good question RKeck,
Full chain of controlled undertaking:
Barclays PLC
Barclays Bank PLC (100%)
Barclays PLC
Barclays Bank PLC (100%)
Barclays Capital Securities Limited (100%)
Barclays PLC
Barclays Bank PLC (100%)
Barclays US Holdings Limited (100%)
Barclays US LLC (100%)
Barclays Group US Inc. (100%)
Barclays Capital Inc. (100%) |
Why rl? Did they close Brazil Italy or USA deals? |
This isn’t really important but I am confused by the Barclays news. Do they have a fund management (buyside) business then? Surely Barclays Bank is not taking sizeable positions in companies?? Anyway, today should be really strong for Flutter - I am anticipating a material share price increase. |
Good post, large position by Barclays taken Strong data coming out of the US on GGR first 7 months of year up 32.6pc YoY with the large long established NJ & Mich up 25pc & jumping above now Pennsylvania up a huge 37pc which is 11pc above forecast |
Bit of recent news...
"Focusing on the financial aspect of Flutter’s performance, the Morningstar expert gave the company an estimate of $250 per share, which is approximately an 18% premium to the price of $210.93 as of the market close on Tuesday."
[And]
Barclays PLC Adjusts Stake in Flutter Entertainment
"crossing a significant threshold on August 30, 2024. Barclays now has a combined total of 7.93% of voting rights" |
High volume at close due to MSCI index move |
May also b on News of appeal in Georgia . Ridiculous judgment . Won’t stand on appeal. For 7.5milliom of business nobody owes 300milluon which may not even be all theirs to pay |
Twg, it may have nothing to do. Contracts take time. Exclusive periods are meant for closing |
16 days since the Sisal teaser, unsure whether the longer the wait the more chance of happening or more issues to resolve!? Rising just before the 3 day weekend in the US to finalise?? |
The EKG line (decent source):
We previously projected that Texas would legalize in November 2025 via ballot measure, and then launch in fall 2026. We’ve now pushed the timeline back a legislative session, with legalization occurring in November 2027, and launch occurring in time for the NFL season opener in fall 2028. |
Morgan Stanley initiates coverage with a Buy and price target of 247 bucks (currently 210) stating 'compelling global long term growth story approximately 3X larger than nearest peers by revenue' (nb they do not count Bet365 clearly) Valuations are undemanding Buy |
Michigan out with July numbers. That's 22 states to date, all with double-digit holds. Taxes won't be going down. |
 The impressive performance from Flutter Entertainment PLC's (LSE:FLTR) fast-growing FanDuel business in the US has led Deutsche Bank to up its share price target for the bookmaker. First-half results provided a "strong finale" to the sector's recent results season, said analyst Simon Davies, hiking his target to £187.17 from £175.89, versus the last closing price just over £160, and reiterating a 'buy' rating.
The H1 results delivered a "material" beat to forecasts for underlying earnings (EBITDA), as "the US started to deliver significant operational gearing", he said.
"And in the face of investor concerns over the potential impact from rising gaming taxes in Illinois, and a continued focus on ramping up customer acquisition, Flutter still managed to deliver a 4% uplift in guidance for group EBITDA."
It was helped by a favourable run of results in the Euros, which gave an expected boost to the UK and international businesses, while Australia was also better than feared, also bailed out by sporting results.
But the US business was the "real outlier", delivering EBITDA up 51% to $260m, with margins up by 130 basis points. |
Strong numbers out of NJ iCasino up 35pc and Sports up 30pc |
Good question RKeck
The first thought I had this morning was along the lines of new customer acquisitions being affected rather than retaining existing numbers. While they may reduce promotional offerings... I tend to believe they(Flutter) will keep the bar slightly above their competitors in this regard, but not as extreme as it once was. It could be more of a balancing act as to when they offer the promotions at critical moments when they see weakness in their competitors offers, instead of a constant barage of promos and incentives.
I guess we'll see what they do... |
RK
maybe it’s about not giving strategy away now? |
Open debate. Flutter/Fanduel plan to mitigate the Illinois tax rise with reduced promotions / generosity to customers. Isn’t this a bit misleading as surely if that was possible without losing customers, FD would have done it anyway? ie what appears to be mitigating the tax loss is just the usual future savings in a more mature state. |
"...but there is no rush to buy here"
Contrary to the evidence we've seen from aftermarket movers. WealthOracle...
(17:07 GMT) Flutter Entertainment Price Target Raised to $249.00/Share From $245.00 by BTIG
(18:00 GMT) Flutter Entertainment Price Target Raised to $255.00/Share From $246.00 by JMP Securities |
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