{"id":265062,"date":"2023-03-19T14:38:45","date_gmt":"2023-03-19T19:38:45","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=265062"},"modified":"2023-03-20T13:07:02","modified_gmt":"2023-03-20T18:07:02","slug":"flutter-stock-has-catalysts-beyond-fanduel-stake","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/","title":{"rendered":"Flutter Stock Could Be Fantastic Thanks to FanDuel"},"content":{"rendered":"<p>Flutter Entertainment (OTC: PDYPY) is based in Dublin and its stock trades in London. But analysts and professional investors believe the gaming company\u2019s US exposure can support more upside in the shares.<\/p>\n<figure id=\"attachment_236469\" aria-describedby=\"caption-attachment-236469\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-236469\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/FD-142x80.jpg\" alt=\"iGaming earnings\" width=\"1200\" height=\"675\" \/><figcaption  id=\"caption-attachment-236469\"class=\"text-description\">An advertisement for FanDuel Sportsbook. The unit is seen as a catalyst for Flutter stock. (Image: FanDuel Sportsbook)<\/figcaption><\/figure>\n<p>The bulk of the operator\u2019s US footprint is attributable to its 95% stake in FanDuel. Boyd Gaming (NYSE: BYD) owns the other 5%. FanDuel is a Goliath, controlling roughly 50% of the market. That&#8217;s more than its two closest rivals combined in the US sports wagering landscape.<\/p>\n<p><strong>The company, which offers sports betting in 17 states, was the first in the US to turn in a profitable quarter <a href=\"https:\/\/www.casino.org\/news\/fanduel-profitability-will-arrive-on-annual-basis-in-2023\/\">and is on pace to do the same<\/a> annually this year.<\/strong><\/p>\n<p>Still, Flutter shares experienced a ceiling of sorts because the gaming company\u2019s other brands, which include BetFair, Paddy Power, and Poker Stars, among others, operate largely outside the US. That means that despite the 95% interest in FanDuel, investors view the company as dependent on Europe and Australia, among other countries, to drive earnings and revenue. In the process, those investors assign a discount to the FanDuel stake.<\/p>\n<h2>Flutter May Have a Solution<\/h2>\n<p>Last month, Flutter told investors it\u2019s mulling a New York listing of its shares. Flutter <a href=\"https:\/\/www.casino.org\/news\/flutter-us-listing-is-something-gaming-company-could-consider\/\">shares currently trade in the US<\/a>\u00a0but on an over-the-counter basis. That means the audience of both professional and retail investors in the states engaged with the stock isn\u2019t as large as it would be if the name traded on the Nasdaq or the New York Stock Exchange (NYSE).<\/p>\n<p>Susquehanna analyst Joe Stauff believes such a move will occur in the fourth quarter and will be a \u201cvalue-creating event\u201d for Flutter investors, in effect removing a 20% conglomerate discount investors assign to FanDuel, according to <em>Barron\u2019s<\/em>.<\/p>\n<blockquote class=\"main-blockquote\"><p>We recently announced that we believe an additional US listing of Flutter\u2019s ordinary shares will yield a number of long-term strategic and capital market benefits,\u201d said Flutter CEO Peter Jackson in a statement. \u201cWe have begun an extensive consultation with our shareholders and early feedback has been supportive. We look forward to continued engagement with investors and stakeholders on this matter and we will announce the results of this engagement in due course.\u201d<\/p><\/blockquote>\n<p>A <a href=\"https:\/\/www.casino.org\/news\/fanduel-off-to-strong-start-in-2023-says-parent-flutter\/\">US listing could benefit Flutter<\/a> in another way. It might dampen investors\u2019 calls for the gaming company to spin out FanDuel as a value-unlocking move. If Flutter trades in the US, the shares may receive a lift from the parent\u2019s ownership of FanDuel due to the sportsbook operator\u2019s enviable brand recognition in the States.<\/p>\n<h2>Other Factors in Flutter\u2019s Favor<\/h2>\n<p>While US bettors and perhaps investors have enthusiasm for FanDuel, global market participants cannot ignore Flutter&#8217;s operations outside the US. Those businesses proved sturdy in the latter stages of 2022.<\/p>\n<p><strong>Additionally, if upcoming UK gaming reform isn\u2019t as harsh as expected, that could be another catalyst for London-listed gaming equities, including Flutter&#8217;s. And the stock isn\u2019t pricey.<\/strong><\/p>\n<p>It trades at \u201c24.7 times estimated 2024 earnings, lower than an average of around 34 times among a basket of competitors, according to FactSet data,\u201d reports <em>Barron\u2019s<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Flutter Entertainment (OTC: PDYPY) is based in Dublin and its stock trades in London. But analysts and professional investors believe the gaming company\u2019s US exposure can support more upside in the shares. The bulk of the operator\u2019s US footprint is attributable to its 95% stake in FanDuel. Boyd Gaming (NYSE: BYD) owns the other 5%. [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":236469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,1074],"tags":[81903,81931,80968],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Flutter Stock Has Catalysts Beyond FanDuel Stake<\/title>\n<meta name=\"description\" content=\"Flutter stock can find support with FanDuel, has other catalysts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Flutter Stock Has Catalysts Beyond FanDuel Stake\" \/>\n<meta property=\"og:description\" content=\"Flutter stock can find support with FanDuel, has other catalysts.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-19T19:38:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-20T18:07:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/FD.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/\",\"url\":\"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/\",\"name\":\"Flutter Stock Has Catalysts Beyond FanDuel Stake\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/FD.jpg\",\"datePublished\":\"2023-03-19T19:38:45+00:00\",\"dateModified\":\"2023-03-20T18:07:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Flutter stock can find support with FanDuel, has other catalysts.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/FD.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/FD.jpg\",\"width\":1280,\"height\":720,\"caption\":\"The FanDuel Sportsbook logo. There are multiple reasons why the gaming company can extend its lead in the US. (Image: FanDuel Sportsbook)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Flutter Stock Could Be Fantastic Thanks to FanDuel\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Flutter Stock Has Catalysts Beyond FanDuel Stake","description":"Flutter stock can find support with FanDuel, has other catalysts.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/","og_locale":"en_US","og_type":"article","og_title":"Flutter Stock Has Catalysts Beyond FanDuel Stake","og_description":"Flutter stock can find support with FanDuel, has other catalysts.","og_url":"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2023-03-19T19:38:45+00:00","article_modified_time":"2023-03-20T18:07:02+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/FD.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/","url":"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/","name":"Flutter Stock Has Catalysts Beyond FanDuel Stake","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/FD.jpg","datePublished":"2023-03-19T19:38:45+00:00","dateModified":"2023-03-20T18:07:02+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Flutter stock can find support with FanDuel, has other catalysts.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/FD.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/FD.jpg","width":1280,"height":720,"caption":"The FanDuel Sportsbook logo. There are multiple reasons why the gaming company can extend its lead in the US. (Image: FanDuel Sportsbook)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/flutter-stock-has-catalysts-beyond-fanduel-stake\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Flutter Stock Could Be Fantastic Thanks to FanDuel"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/265062"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=265062"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/265062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/236469"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=265062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=265062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=265062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}