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    Default Flutter Entertainment lowers Q4 guidance due to 'customer-friendly' NFL season

    Flutter Entertainment, the parent company of FanDuel, has revised its fourth-quarter U.S. guidance downward. The company attributes this adjustment to an unusually high win rate for gamblers, particularly those backing favored teams in NFL games.

    In a recent trading update, Flutter Entertainment acknowledged that the current NFL season "has been the most customer-friendly since the launch of online sports betting." This trend, driven by the success of favored teams, has resulted in higher payouts to bettors and subsequently lower revenues for the company.

    From Barrons:

    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.
    Read more here: https://www.barrons.com/articles/fan...k-nfl-81874ad5

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    Flutter Entertainment has cut its Q4 outlook due to the NFL season's high player win rate, which has led to lower revenue.

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