The move in share prices came a day after Deutsche Bank analysts said the online gaming sector in the UK was \u201cpoised for consolidation.\u201d<\/p>\n
We see the scope to create value from another wave of consolidation, with rising regulatory and marketing costs encouraging a drive for scale, given material cost synergies,” said the analysts.<\/p><\/blockquote>\n
But Flutter was not among those tipped by Deutsche Bank for a headline-grabbing merger. Having achieved significant scale through the Paddy Power and Betfair tie up, the company is focused on growing its US footprint, while acquiring outfits with leading positions in other emerging regulated gambling markets, as shown by its recent takeover of Republic of Georgia-based Adjarabet.<\/p>\n
Deutsche Bank rated companies like William Hill and GVC as \u201cbuy\u201d while Flutter was \u201chold\u201d less than 24 hours before its stock went through the roof.<\/p>\n
Investors didn\u2019t listen to Deutsche Bank and their excitement appears to have been misplaced, while Flutter\u2019s quick denial that there was anything going on behind the scenes on Wednesday seems to be genuine.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
A sudden surge in the share price of Flutter Entertainment, the company until very recently known as Paddy Power Betfair, was sparked by speculation it had become the target of an unnamed buyer who possibly planned to take it private. Shares in the company shot up by 20 percent on the London Stock Exchange on […]<\/p>\n","protected":false},"author":36,"featured_media":108368,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810,32093,1,1074],"tags":[],"acf":[],"yoast_head":"\n
Flutter Entertainment Denies Takeover Rumors After Shares Skyrocket<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n