FTSE 100 closes higher as tech stocks boost Wall Street May 24, 2021 London’s FTSE 100 closed higher this afternoon after posting its second straight weekly drop, as oil majors provided the biggest boosts to the index. Wall Street also opened higher as tech stocks showed signs of bouncing back from a poor month. The blue-chip index advanced 0.5 per cent over the dat’s trading, buoyed by gains [...]
CEO of Flutter sports betting platform FanDuel steps down May 12, 2021 Sports betting and gaming group Flutter Entertainment has confirmed this morning its FanDuel chief executive officer will exit the top position after four years leading the sports gaming platform. Despite handing in his notice, Matt King has chosen to remain with FanDuel until a successor has been found. “It has been a privilege to lead FanDuel [...]
Paddy Power owner Flutter sees 32 per cent rise in revenues to £1.5bn April 29, 2021 Gambling giant Flutter Entertainment saw its total revenue leap by 32 per cent to £1.5bn in the first three months of the year, the company said this morning. The Dublin-based owner of Paddy Power and Betfair said that sports betting revenues shot up 43 per cent to £896m. Meanwhile, its gaming market grew 18 per [...]
Flutter hits back at Rupert Murdoch in row over US betting firm Fan Duel April 7, 2021 Gambling giant Flutter has hit back at Rupert Murdoch’s Fox in a legal row over a US sports betting firm, accusing the media mogul of trying to take a stake in the company at a cut-price rate. Fox Corporation last night filed a lawsuit against Flutter, which owns brands such as Paddy Power and Betfair, [...]
Flutter mulls spinning off Fan Duel sports betting brand in US March 14, 2021 Paddy Power owned Flutter is mulling spinning off its Fan Duel brand in order to capitalise on the growing US sports betting market. Over the weekend the FTSE 100 firm confirmed it was looking at listing part of the brand on a US exchange, it was reported. Having first invested in Fan Duel in 2018, [...]
Gambling giant Flutter taps Vice boss Nancy Dubuc in boardroom shake-up February 25, 2021 Flutter Entertainment has appointed Vice chief executive Nancy Dubuc as a non-executive director as part of a boardroom shake-up aimed at redressing the company’s gender balance. Dubuc, a media industry veteran, has led youth-oriented Vice Media since 2018. Prior to this she was chief executive of A&E Television Networks. Flutter, formerly known as Paddy Power [...]
UK’s gambling black market has doubled since 2018: PwC February 5, 2021 The number of British consumers gambling on unlicensed websites has doubled in the last three years, according to a new study by PwC. The report found a steep rise in customers using offshore websites, despite these platforms being less visible on Google and with little evidence of growing public awareness of black market brands. PwC [...]
Paddy Power owner Flutter Group hit with whopping $870m fine December 18, 2020 Flutter Group has been hit with an enormous $870m fine after a Kentucky court ruled a previously vacated judgment had been reinstated. Yesterday the Kentucky Supreme Court reinstated a ruling against The Stars Group, which merged with Flutter in 2019 in a £12.2bn deal, saddling Flutter with an enormous fine in the process. The original [...]