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 [...]
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 [...]
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 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 [...]
Paddy Power and Betfair owner Flutter in talks for £2bn Snaitech deal August 14, 2024 Paddy Power and Betfair owner Flutter Entertainment is in talks to buy Italian gambling company Snaitech, the consumer division of Playtech, in a deal that could be valued at around £2bn. “Playtech confirms it is in discussions with Flutter and has granted Flutter a period of exclusivity to complete due diligence and finalise the necessary [...]
Flutter Entertainment: Paddy Power and Betfair owner ups guidance as US demand soars August 14, 2024 Flutter Entertainment, the gaming giant behind Paddy Power and Betfair, has upped its guidance amid booming demand from its US audience. The Dublin-headquartered firm, which is listed in New York but has a secondary listing in London, has projected a 20 per cent year-on-year increase in group revenue and a 34 per cent rise in [...]
Euro 2024 adverts review: Adidas, Coca-Cola, Sports Direct, BBC and Paddy Power June 13, 2024 Who are the Jude Bellinghams and Jack Grealishes of the advertising world?