![]() Its other brands in the US include FOXBet, TVG, PokerStars and Stardust, and the whole region generated revenues of £1.05bn, of which FanDuel contributed 97%.ĭespite its expansion in the US market, Flutter posted an adjusted operating loss of £162mln for the region in the first half, up from £108mln, though it was profitable in the second quarter. ![]() Not only that, but the group added acquisitions and strategic partnerships, such as Turner Sports, a media company, and Pat McAfee, a sports analyst, which ensure it is “accessing the broad population of sports bettors more quickly, leading to faster adoption curves as each state launches”.Ī quick glance at the figures will also tell you exactly why Flutter and investors alike are excited by FanDuel. In its first-half results, Flutter said its US sports betting market share grew to 51% in the second quarter, boosted by FanDuel’s “superior product, efficient customer acquisition and strong operational execution”.Ĭhief executive Peter Jackson further highlighted the app’s popularity, adding that it is the number one choice for consumers in 13 out of the 15 states in which it is available. FanDuelįanDuel is Flutter’s American arm, where punters can gamble on sports, horse racing, and fantasy games and take part in an online casino. However, changes in US law four years ago opened up the land of hope and glory to the bookmakers, with nearly two-thirds of states legalising the practice.įor Entain, its US hopes lie in its joint venture with MGM Resorts, BetMGM.įor the company behind Paddy Power and Betfair, the name of the game is FanDuel. Until recently, online gaming and sports betting had been illegal. The inside tip? The upcoming and lucrative American market. In fact, its shares rallied 12% to 10,495p, while Entain moved 6% higher before yesterday’s close. Yet, the share price didn’t reflect that headline loss. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation.Īn emerging trend seems to be showing itself in the gambling and gaming market.įollowing quickly on the heels of Entain PLC (LSE:ENT) yesterday, Flutter Entertainment PLC (LSE:FLTR) posted its first half results with eerily similar patterns.īoth of the FTSE 100 giants reported growing losses, in the case of Flutter to £122mln, £26mln higher than the same period last year. Proactive will on occasion use automation and software tools, including generative AI. The team also has access to and use technologies to assist and enhance workflows. Our human content creators are equipped with many decades of valuable expertise and experience. Proactive has always been a forward looking and enthusiastic technology adopter. ![]() The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. This is content that excites and engages motivated private investors. ![]() ![]() We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. ![]()
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