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ESPN Bet Showing Progress, Says Analyst
The 2024 football season was seen as a key test for Penn Entertainment’s (NASDAQ: PENN) ESPN Bet, and as the NFL moves into its fifth week, the online sports betting platform seems to be making strides. In a recent report to clients, Jefferies analyst David Katz highlighted that while ESPN Bet hasn’t yet captured significant…
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Flutter Plans $5B Buyback, Raises FanDuel Growth Outlook
Flutter Entertainment (NYSE: FLUT) announced new medium-term guidance through 2027 on Wednesday, projecting stronger-than-expected growth in North America, led by its dominant FanDuel division. The company also revealed plans to repurchase up to $5 billion of its shares over the next few years. The Dublin-based gaming giant anticipates the global regulated gross gaming revenue (GGR)…
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NFL Betting to Reach $35 Billion in 2024, Reports AGA
As the 2024 NFL season kicks off on Thursday, it’s set to break new betting records. The American Gaming Association (AGA) projects that wagers on NFL games through regulated sportsbooks could total a staggering $35 billion this year. This represents a 30% jump from the $26.7 billion forecasted at the start of the 2023 season.…
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Morningstar Praises Flutter Entertainment in New Coverage
Flutter Entertainment (NYSE: FLUT) has received praise in new coverage by Morningstar, with the research firm highlighting the gaming company’s effective capital allocation, in-house product development, and robust risk management capabilities. In a note released today, analyst Dan Wasiolek initiated coverage of the parent company of FanDuel with a four-star rating (out of five) and…