Flutter: Paddy Power owner stock sinks after gambler winnings May 8, 2025 Flutter, the gambling giant owner of Paddy Power and Betfair, has upgraded its profit guidance despite missing analyst forecasts in the first three months of 2025. The gambling giant failed to meet expectations on revenue and profit after the US March Madness college basketball series saw a number of favourites win out, it revealed in [...]
Flutter Entertainment posts strong growth despite challenging sports results March 5, 2025 Flutter Entertainment, the world’s largest online sports betting and gaming operator, has reported an uptick in revenue and earnings despite setbacks from unfavourable sports outcomes. The company’s revenue jumped 14 per cent in the fourth quarter, driven by strength in its UK and Ireland markets and the US. Flutter posted revenue growth of 20 per [...]
Flutter: Paddy Power owner loses over £300m on bad US bets January 8, 2025 Flutter, the gambling giant owner of Paddy Power, has downgraded its revenue estimates for 2024 by $390m (£312m) after a period of “very unfavourable US sports results”. In a stock exchange notice, the Fanduel owner reported that November and December had seen a surge in unfavourable results for the bookie, especially in American football parlay [...]
Lloyd’s of London insurer snubs the City with New York IPO plans January 6, 2025 A Lloyd’s of London insurer has dealt a fresh blow to the City by snubbing the London Stock Exchange in favour of New York for its planned IPO, piling fresh pressure on the capital’s bourse after it shrank at the fastest pace on record last year. Aspen Insurance, an underwriting firm which operates out of [...]
The world’s most lucrative jockey competition is coming to British racing November 14, 2024 British racing has announced the world’s most lucrative jockey competition, the David Power Jockeys’ Cup – a new league for riders with a prize fund of £1.5m. The initiative, which will launch on Friday at Cheltenham’s November Meeting, is an attempt to inject more excitement into jumps season and backed by bookmakers the Flutter Group. [...]
Flutter: Paddy Power owner slashes loss as US sales double November 13, 2024 Gambling giant Flutter Entertainment, whose brands include the likes of Paddy Power and Betfair, slashed its net loss during its latest quarter as its US sales doubled. The group’s total revenue for the third quarter of 2024 rose by 27 per cent from £2.558bn to £3.248bn while its adjusted earnings before interest, tax, depreciation and [...]
Sky Bet: Profit slides as inflation and salary rises bite October 28, 2024 Profit at Sky Bet was slashed during its latest financial year as its operating expenses surged by almost £45m. The business behind the brand, which is owned by Flutter Entertainment, has reported a pre-tax profit of £48.9m for 2023, according to newly-filed accounts with Companies House. Its profit was hit because the firm’s operating expenses [...]
Gambling stocks Flutter, Entain and Evoke nosedive on Budget tax fears October 14, 2024 Shares in British gambling firms plummeted on Monday morning after reports that the government was eyeing up £3bn tax rises on the sector in a move that one investment bank said would “all but wipe out bookmaker profitability in the UK”. William Hill-owner Evoke saw its share price crater by over 13 per cent in [...]
Playtech upgrades guidance as B2B business grows amid Snaitech sale September 30, 2024 Gambling software firm Playtech has upgraded its guidance due to growth in its business-to-business arm grows, and said it will deliver €1.7bn (£1.42bn) to shareholders via the sale of Snaitech. Adjusted earning before interest, tax, depreciation and amortization (EBITDA) in the six months ended 30 June rose 11 per cent to €243m (£202m), driven by [...]
Playtech sells Italian arm to Flutter for £2bn September 17, 2024 London-listed gambling tech provider Playtech has agreed to sell its Italian gaming arm Snaitech to Flutter Entertainment for €2.3bn (£1.9bn). Playtech first confirmed discussions with Flutter, the owner of Paddy Power and Betfair, in August. The deal values Snaitech at a significant premium to Playtech’s market capitalisation as of 13 August, the last date before negotiations [...]