![]() ![]() ![]() He said there was more retail involvement and engagement in the U.S. In November, at an investor meeting in Manhattan, Flutter CEO Peter Jackson was asked about a potential FanDuel IPO in the U.S. "It would be our top holding if they went public." "FanDuel would be the Apple of our industry," Kamys said. But he predicted that a public listing for FanDuel would lift the entire sports betting industry. Jeffrey Kamys, chief investment strategist for the iBet ETF, said the decline hurt a lot of gaming companies that got lumped in with DraftKings. IPO," said Lloyd Danzig, managing partner of Sharp Alpha Advisors, "to take advantage of the premium multiple that it appeared the market was placing on a US-based digital gaming business." "When DraftKings was trading near its all-time highs, there was significant pressure from Flutter shareholders to spin off FanDuel in a U.S. Flutter said a listing would provide liquidity and access to deeper capital markets. would elevate its brand and help the company attract and retain talent. Jefferies analysts said it would command a premium, "as market leader in the larger global online gambling market."įlutter said an additional listing in the U.S. listing would also expose Flutter to new American investors. The company also owns Paddy Power and Betfair, well-known gambling platforms internationally.įlutter is based in Ireland, and its stock is traded in Europe. Its $3 billion in annual revenue makes up the biggest segment of Flutter's overall business. FanDuel said it accepted 50,000 bets per minute at its peak, averaging 2 million active users on its platform during the game.įanDuel is the nation's sports betting market leader and is on track for full-year profitability in 2023, according to the company. The development comes two days after a record Super Bowl for betting. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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