Flutter Entertainment Plc (FLTR LN): Investor Discussion

Flutter Entertainment Plc

TMT


Presented:03/09/2023
Price:£140.75
Cap:$38.09B
Current Price:£173.50
Cap:$21.21B

Presented

Date03/09/2023
Price£140.75
Market Cap$38.09B
Ent Value$36.51B
P/E RatioN/A
Book Value£57.97
Div Yield0%
Shares O/S176.15M
Ave Daily Vol264,241
Short IntN/A

Current

Price£173.50
Market Cap$21.21B
Flutter Entertainment Plc is engaged in the business of online betting and gaming. It operates through the following segments: PPB Online, Australia, PPB Retail, U.S, and Corporate. The PPB Online segment comprises of Paddy Power, Betfair, and Adjarabet brands. The Australia segment focuses on sports betting services provided to Australian customers using internet with a small proportion using the public telephony system. The PPB Retail segment covers sports betting and gaming machine services delivered through licensed bookmaking shop estates in the United Kingdom and Ireland. The U.S. segment consists of sports betting, daily fantasy sports, and gaming services. The company was founded in 1988 and is headquartered in Dublin, Ireland.

On March 9, 2023, DeMatteo Research hosted a discussion on Flutter Entertainment PLC (FLTR LN) with four investors. The group shared thoughts on recent earnings results, the performance of various geographic markets, regulation & legalization, competition, the importance of 2023 FanDuel profitability, a potential US listing, risks, outlooks, and valuation.

Publicly traded companies mentioned herein: 888 Holdings PLC (888 LN), DraftKings Inc (DKNG), Flutter Entertainment Inc (FLTR LN), Kindred Group PLC (KINDSDB SS), Walt Disney Co/The (DIS)

Regulation

The consensus was that FLTR has largely felt the full impact from regulation already. One investor estimates that FLTR has lost upwards of £200MM in annual revenue based on regulatory/tax changes, safer gambling measures, and market exits across its international segment (i.e., outside of the US, the UK, Ireland, and Australia). Concurrently, the company has noted a £150MM topline reduction in the UK from changes to get ahead of the White Paper. While the investors agree that FLTR is already compliant with the likely requirements when the UK White Paper is published, this uncertainty is acting as an overhang on the stock and negatively impacting investor sentiment. Regardless of the White Paper’s specifics, most participants feel its release will be a positive catalyst for FLTR. 

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Request access to DeMatteo Research for full access

Request Access

Already have an account?

Idea Discussion

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Idea Discussions display submitted commentary from our investor community.

To read and participate in the discussion with the presenter and investor base, request access to DeMatteo

Request Access

Already have an account?

An error occurred loading this content. Try again later or contact us.