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🎰🇺🇸📉 Flutter Cuts U.S. Profit Outlook As Bettor Wins Hit Earnings Again 🔹 Summary: Flutter, the world’s largest online betting firm and owner of FanDuel, lowered its full-year U.S. profit forecast by $180 million after an unusually favorable winning streak for bettors during March Madness dented earnings for the second straight quarter. Despite the U.S. downgrade, Flutter slightly raised its overall group profit forecast to $3.18 billion, boosted by favorable currency effects and acquisition contributions. 🔹 Key Points: • U.S. core profit now expected at $1.13B, down from prior guidance due to bettor-friendly outcomes. • March Madness tournament saw unprecedented wins for gamblers, squeezing bookmaker margins. • Group-wide profit forecast raised slightly, aided by $100M FX boost and $120M from acquisitions. • Flutter remains the dominant U.S. online betting player through FanDuel. • Investors will watch for how management navigates volatility in sports betting outcomes. @CMEActiveTrader Tickers Of Interest: $ES $NQ $YM Tickers Of Interest: $FLTR. L $PDYPY $DKNG $RSI $BYD $CZR $USD $GBP $EUR $SPY $QQQ $BETZ $IYZ
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⚠️ Fanduel owner cuts US profit forecast on gamblers' winning streak - Reuters on Full Story →
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