DraftKings (NASDAQ: DKNG) is likely to have caught the same cold as rival Flutter Entertainment (NYSE: FLUT), which warned investors on Tuesday that its fourth-quarter and 2024 earnings and revenue will come in below previously issued estimates due to customer-friendly outcomes on the NFL. DraftKings stock highlighted at the Nasdaq market site in New York City. An analyst said the company’s fourth-quarter EBITDA was likely dinged by customer-friendly outcomes on NFL games. (Image: Nasdaq) When Flutter issued its financial warning following the close of US markets on Monday, the stock slid in after-hours trading, but the shares rebounded on Wednesday, with DraftKings going along for the ride. Still, Bank of America analyst Shaun Kelley warned that bettors’ knack for selecting NFL winners in the fourth quarter – the culprit behind Flutter’s warning – likely affected DraftKings, too. This year, NFL favorites are winning outright in more than seven in 10 games and covering spreads at a rate of nearly 54%… Read More
Category: Financial, NFL, Sports Betting, sports betting
Source: Casino.org
