Shares of Flutter Entertainment (NYSE: FLUT) traded lower by nearly 2% in Tuesday’s after-hours session after the FanDuel parent lowered its 2024 earnings and revenue guidance, citing unusually weak results on NFL wagers. The Flutter logo at a corporate office. Citing customer friendly outcomes on NFL games, the gaming company cuts its 2024 guidance. (Image: The Independent) The company said it now expects 2024 revenue of $5.78 billion, down from a prior forecast of $6.05 billion to $6.25 billion. Earnings before interest, taxes, depreciation, and amortization (EBITDA) is expected to be $205 million lower than the previously issued midpoint of $505 million. For the fourth quarter, the operator expects EBITDA of $161 million on sales of $1.59 billion, headwinds in the October through December period. The 2024/2025 NFL season to date has been the most customer friendly since the launch of online sports betting with the highest rate of favorites winning in nearly 20 years,” according to Flutter. The NFL… Read More
Category: Financial, NFL, Sports Betting, sports betting
Source: Casino.org
