Flutter is now expecting $1.59 billion in revenue over the quarter ended Dec. 31, way below the $1.97 billion figure analysts polled by FactSet were expecting.
It wasn’t all bad news for shareholders, because sports bettors across the Atlantic aren’t doing so well.
Flutter estimated that full-year revenue for the brands it owns outside the U.S. will be 1% to 2% higher. It pointed to favorable soccer results in the English Premier League—where underdogs such as Nottingham Forest and Bournemouth are having stellar seasons, while traditional powerhouses including Manchester United and Tottenham Hotspur flounder.
Flutter’s U.S. stock rose despite the guidance cut, climbing 1.4% to $255.41, but its London-listed shares were down 1.4% in afternoon trading.