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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Leisure, gaming and gambling

Flutter boosted by performance of US rival DraftKings

UK-based betting operator Flutter Entertainment was up 2.5%, following strong results overnight in the US from rival DraftKings.

Shares in the sports and betting company soared after hours in the US after it reported much higher third-quarter revenues than expected and raised its full-year guidance.

For the third quarter, DraftKings reported revenue of $790 million, an increase of 57% over the $502 million reported in the year-ago quarter.

On the back of the number, DraftKings said it was raising the midpoint of its full-year 2023 revenue guidance from $3.5 billion to $3.695 billion, which represents growth between 64% and 66%.

The US became Flutter's - which owns FanDuel - biggest market by revenue last year and it is pursuing a secondary listing in New York.

DraftKings shares gained 6.8% to about US$31 shortly following the release of its financial report and have stayed strong today.

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