FanDuelįanDuel is Flutter’s American arm, where punters can gamble on sports, horse racing, and fantasy games and take part in an online casino. However, changes in US law four years ago opened up the land of hope and glory to the bookmakers, with nearly two-thirds of states legalising the practice.įor Entain, its US hopes lie in its joint venture with MGM Resorts, BetMGM.įor the company behind Paddy Power and Betfair, the name of the game is FanDuel. Until recently, online gaming and sports betting had been illegal. The inside tip? The upcoming and lucrative American market. In fact, its shares rallied 12% to 10,495p, while Entain moved 6% higher before yesterday’s close. Yet, the share price didn’t reflect that headline loss. ![]() An emerging trend seems to be showing itself in the gambling and gaming market.įollowing quickly on the heels of Entain PLC (LSE:ENT) yesterday, Flutter Entertainment PLC (LSE:FLTR) posted its first half results with eerily similar patterns.īoth of the FTSE 100 giants reported growing losses, in the case of Flutter to £122mln, £26mln higher than the same period last year.
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