Flutter Entertainment Responds to FanDuel Rumours

Flutter Entertainment Responds to
FanDuel Rumours

FanDual sportsbook bar

Flutter Entertainment Responds to FanDuel IPO Rumours

Speculation is now surrounding Flutter Entertainment. It faces market rumors about FanDuel, one of the Flutters’ crown jewels, which is also its vehicle for expansion into the U.S. legal online casino and sports betting markets. It appears that Flutter is now looking to take FanDuel public, where an IPO (Initial Public Offering) will allow more investors to become owners of one of the country’s iconic entertainment brands.

No confirmation has been made, but neither denies the public listing of the FanDuel sportsbook, and Daily Fantasy Sports (DFS) provider will happen. However, the U.K.-based Flutter Entertainment comments that a move may be considered. This would give U.S. investors and residents easy access to another public betting operator on the U.S. stock exchange.

FanDuel US Market Leader

Launched in 2018, FanDuel has become one of the first-rate choices for anyone betting on sports online. The company recreated fantasy sports in 2019 by giving American sports fans how to play one-day fantasy sports for real money. Alongside competitor DraftKings, FanDuel is still regarded as the top DFS operator in the U.S. and beyond.

For more information, check the BestAppBet full review of FanDuel.

Flutter Entertainment Responds

In a press call speaking with analysts last week, a Flutter spokesperson commented: “The ongoing press speculation in respect to the possible IPO of the Group’s U.S. business, FanDuel. As a company, we regularly assess its structure to evaluate how to situate itself to deliver upon group strategy.”

“There are a variety of options currently being explored. Including the listing of a small shareholding in FanDuel, but there is no decision currently. If this is the direction chosen, there will be an announcement in due course.”

Investing in FanDuel

In December, Flutter increased its investment in FanDuel sportsbook to 95% following a $4.2bn deal. This was made public when speculations about the IPO became clear. The group now has an estimated 40% share within the U.S. market. It estimates over $19.4bn of business created by 2025 due to more states legalizing sports betting.

Regardless of the decision, Flutter will not want to give up a considerable amount of its stake; however, it won’t have to make this happen.

This also affects other invested parties such as Fox Sports, who currently own 2.5% of Flutter and could buy another 18.5% investment in FanDuel in July. It also has a 10-year option which allows it to buy half the Stars Group’s U.S. business, another company owned by Flutter. All of this may complicate and delay the IPO.

Investors who wish to remain anonymous have voiced their irritation at the discount Flutter is trading at compared to DraftKings, especially as FanDuel online gambling is considered a relatively large U.S. operator. Many viewed the buying of the additional stake in December as to allow an eventual IPO.

DraftKings’ market capitalization is currently more than $28 billion. In 2020, DraftKings took $644 million in revenue. It predicts there will be between $900 million and $1 billion in 2021.

Currently trading on the London Stock Exchange, Flutter Entertainment has a market capitalization of around $39 billion. This works out as less than 40% higher, regardless of FanDuel reporting $967 million in 2020 revenue. It is 50% higher and doesn’t include the group’s other assets. With a 40% market share, FanDuel sportsbook has claimed to be the U.S. sports gambling market leader.

Currently trading on the London Stock Exchange, Flutter Entertainment’s market capitalization is valued at around $39 billion. With a 40% market share in the U.S., FanDuel sportsbook has claims to be one of the U.S. sports betting market leaders.

This IPO could become a reality at a very critical time for sports betting within the U.S., whereas 19 states are set to decide on legalizing online and land-based sports betting. These states also include Texas and New York.

Comparing FanDuel to DraftKings

Competing with FanDuel since its inception is another DFS-turned-sportsbook DraftKings. Although DraftKings was in the market before FanDuel and was considered to have a slight lead, it reported considerable losses in 2020. However, DraftKings is still maintaining one of the top U.S. operator’s spots. The losses amounted to nearly $400 million in corrected EBITDA after a $500 million spent on sales and marketing.

On the other hand, Flutter spent $484 million on its sales and marketing but reported a loss of $237 million within the U.S. segment. The difference being that Flutter also has a wide variety of other companies and reported an EBITDA of $1.2 billion last year. Best App Bet has put together a list of great betting apps regardless of losses and financials.

Summary

The IPO is still the only speculation at this point. FanDuel still offers a fantastic array of gambling options on all of its sites, including those in Virginia, Michigan, Indiana, Iowa, New Hampshire, New Jersey, Pennsylvania, West Virginia, Tennessee, Illinois, and Colorado.

You don’t have to be a resident of the state to place your bets on FanDuel; the perfect option for anyone visiting these states is over 21 and has access to a mobile device.

Share on facebook
Facebook
Share on twitter
Twitter
Golden Nugget Logo
Golden Nugget
Being one of the top casinos in the USA, Golden Nugget are now offering Americans one of the best online casino and sportsbooks for the newly-regulated US online casino and sports betting market. Visit Golden Nugget’s website and download their sports betting app, and within minutes you too can be playing and betting in one of the world’s top casinos – all from the comfort of your own home.
Sugar House Casino Logo
Sugarhouse

Sugarhouse is owned by Rush Interactive, which is one of the most prominent providers of online sportsbook and casinos in the country. In 2016, SugarHouse launched it online casino in New Jersey, joined by its online sportsbook in 2018. Since then, it became a leading casino and sportsbook for Americans. Check out their fantastic bonuses, games and bets available, and see yourself why when it comes to casino and sports betting in the USA, Sugarhouse is a Powerhouse 

Resorts Online Casino
Resorts Atlantic
Partnered with Resorts Atlantic City Casino, the Resorts online sportsbook and casino launched in January of this year, and has since been making headways in the race to the top of online sports betting operators in the USA. Just like the Resorts Casino in Atlantic City, Resorts brings online and in its sports betting mobile app everything of top market standard: bonuses, odds, betting markets, types of bets and more.

LATEST BLOG ARTICLES

March Madness Sweet 16 Betting Preview

March Madness seems to get better every year, and the 2022 version has not disappointed. Some favorites have dominated, while others have been dumped out much sooner than expected. Every tournament needs a Cinderella, and Saint Peter’s is one of the most heartwarming underdogs in recent memory. This tournament has shown that anything can happen, and US bettors have had a great time trying to predict these games and sometimes making great profits.

Read More »

March Madness Betting Favorites

With February officially coming to an end, NCAA basketball fans are gearing up for perhaps the biggest March Madness in recent memory. Now more than ever before, there seem to be upset every weekend. Not only that, but college basketball betting has also grown exponentially in the past twelve months since the Baylor Bears won their first national championship in program history. With the hype now starting to build and Selection Sunday less than a month away, sports pundits have been speculating who they believe will bring home the trophy in 2022.

Read More »

March Madness Betting Guide

December has Christmas, January has New Year’s Day, February has Valentine’s Day, and March has March Madness. The time has almost come for the US’ favorite college sports tournament. The nation’s full attention falls on those teams that qualify for the tournament. Over the years, millions of Americans have taken part in local brackets on who will win March Madness.

Read More »

SPORT BETTING APPS

Sports betting has always been an exciting way for fans to buy into the sport, in a way participate and add another dimension of thrill and excitement to the competition, match or any sporting event. With the evolution of remote betting first to phone, and later on to online betting, remote sports-betting not only became available to a wider audience, but also added a whole new level of excitement and magic to sports betting. Today’s mobile sports betting apps, which are readily available on both Android and Apple, are on the front line of technology, and alongside an exceptional slick and user friendly interface, opens to sports betting punters an entire universe of sports events, odds, games and features such as live streaming and in-play betting. Are you into NFL? Are you an NBA fan? Maybe your thing is baseball so you would like to bet on MLB? Or perhaps you are into world sports and want some European Premier Soccer betting? The mobile sports betting apps bring all of this amazing action to your mobile device, so you can bet on what you want, from wherever you are, at any time you choose to.

CASINO APPS

Are you a casino player? Did you always love casino, the atmosphere, the thrill and excitement, and most importantly the dream and sometimes reality of big winnings? You no longer need to wait for your next trip to Vegas, or wherever it is you are planning to go to a casino. Mobile and remote casino gambling has now entered to US, and it is here to stay. Already live in New Jersey, and closely followed by other states, Americans can now join the fun, download a casino mobile app from one of the top, legal and certified US casinos, and have all the magic of casino from their mobile device. Are you a BlackJack player? Or maybe you are into Roulette? Maybe Baccarat or Craps are your game, or are you a fan of slots? Whichever game is for you, you will find it on the mobile casino apps that are now becoming legal and regulated across states, and enable you to have your own private casino on your mobile device. It is legal, it is exciting, and it is magic.

SLOTS APPS

For many, slot machines are the most thrilling part of the casino. The lights, animation, sounds and action take you into another dream world, where you can win huge prizes, jackpots, bonus rounds and what not. The Mobile slot apps that are now available in the US provide the world’s premier slots, all made regulated and fully compliant with the US regulations and laws. So you can safely and securely download the slots mobile app to your mobile device (where it is legal to do so), and have the most amazing slot game experience coming to life on your mobile phone. Are you into progressive slots where you get a chance at winning an amazing jackpot, or perhaps you are into an animated video slot that has branded content with your favourite movie, TV or music stars? All of these amazing titles are just a swipe away, all available on your mobile phone by downloading the mobile slot game app.     

POKER APPS

A lot has changed since the first games of poker were played along the Mississippi River in the 1800s, with Poker becoming a worldwide phenomenon, crossing the boundaries of a card game and considered by many a sport, with tournaments, leagues and champions. Being a game with friends or a professional tournament, the online revolution turned poker to be a game that is played and followed by billions all over the world. And then the latest stage of the poker uprising which is the mobile poker apps, which enable you to access any kind of level, tournament and game from your mobile phone, no matter where you are in the world, and what time it is, you can join in the poker fun and excitement and play against other poker enthusiasts like you around the globe. Poker is now coming home again, and becoming legal to play remotely state after state in the USA also. So now Americans can already download a safe and legal mobile.