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Business
December 30, 2020
Flutter Entertainment Completes $4.2bn FanDuel Stake Buyout
The end of the year is an ideal time to wrap things up, and Flutter Entertainment (FLTR.L) is heading out of 2020 with no loose ends, after announcing earlier today that it has completed the acquisition of a 37.2% stake in FanDuel Group. Flutter has bought out the share from Fastball Holdings for $4.2 billion […]
Legal
December 18, 2020
Flutter Faces $1.3bn Penalty in Kentucky over PokerStars
The Kentucky Supreme Court has reinstated a case against now Flutter Entertainment-owned PokerStars for facilitating illegal gambling in Kentucky between 2006 and 2011. The court is upholding a previous $1.3 billion penalty against PokerStars. Flutter has reassured investors that it is working on the matter and is expecting to find an outcome in the case […]
Industry
December 9, 2020
Lawmakers Urge British Bookies to Return Relief Money
With over £2 billion of relief money returned by businesses that benefited from the pandemic, MPs have called on sports betting businesses in the United Kingdom to do the same. Lawmakers Say Bookies Should Return Relief Funds Lawmakers in the United Kingdom have called sportsbooks to return tens of millions of pounds they received in […]
Business
December 4, 2020
Flutter Placed Shares to Pay for Fastball’s FanDuel Stake
Leading sports betting and gaming group Flutter Entertainment announced yesterday it entered into a conditional agreement to acquire the 37.2% stake in FanDuel held by Fastball Holdings, for $4.175 billion, subject to approval by its shareholders. Flutter is expected to convene an extraordinary general meeting before the year end. Flutter Targets 95% Stake in FanDuel […]
Business
November 30, 2020
Flutter Appoints Catherine Lynch as Chief People Officer UK & Ireland
Former Virgin Media chief people officer Catherine Lynch is set to become the new addition of Flutter Entertainment, performing in the same role for the UK and Ireland division of the gaming group. All Aspects of Staff Catherine Lynch will be tasked to oversee employment recruitment, selection and evaluation, all aspects of staff development and […]
Sports
November 17, 2020
FanDuel Invests Millions in Fairmount Park Racetrack in Illinois
FanDuel Group, the US sports betting brand of Flutter Entertainment, announced plans Monday to engage in a multi-million investment in Fairmount Park Racetrack in Collinsville, Illinois. The venue will undergo a rebranding and complete revitalization, targeting the return of its signature event, the $250,000 St. Louis Derby. FanDuel Sportsbook and Horse Racing Under the terms […]
Business
November 12, 2020
Flutter Raises Earnings Guidance, Reports 30% Jump in Q3 Revenues
Flutter Entertainment raised its earnings guidance on Wednesday, as betting customers grow. The group reported a 30% increase in revenue in Q3. EBITDA Up By 2.4% From Previous Forecast Betting giant Flutter Entertainment (FLTR), the owner of Paddy Power, Betfair, and Poker Stars raised its full-year operating profits guidance on Wednesday and reported a 30% […]
Business
November 4, 2020
Maryland, South Dakota and Louisiana Approve Ballot Measures
A trio of states voted in favor of ballot measures for the legalization of sports betting and fueled buying interest for stocks of sports betting operators on the markets Wednesday morning. Boston-based daily fantasy sports and betting operator DraftKings had its biggest rally in 3 weeks, posting gains of 6.2%, followed closely by Penn National […]
Business
April 30, 2020
Flutter Entertainment and The Stars Group Set Merger Date for May 5
Paddy Power Betfair parent company Flutter Entertainment is drawing closer to the long-anticipated merger with The Stars Group (TSG). After shareholders from both companies have approved the move and regulators have given their go-ahead, the merger will be completed on Tuesday, May 5. This will conclude the process that began back in October 2019, when […]
Business
April 23, 2020
Moody’s: Mergers And Acquisitions Is the Future of the Gambling Industry
The ongoing merger between Flutter Entertainment and The Stars Group /TSG/ has a real chance to make the decisive step towards completion this week, after on Tuesday the shareholders of the Irish-based gaming operator have almost unanimously approved the deal, and the stock holders of the Toronto-headquartered company will have their say Friday, April 24. […]