FanDuel faces $250m lawsuit in new legal scandal
On October 1, a former Jacksonville Jaguars employee filed a $250 million lawsuit against FanDuel, accusing the company of exploding his gambling addiction.Amit Patel, a...
Flutter to repurchase $5B in shares and boost FanDuel
Flutter may repurchase up to $5 billion worth of its shares within the next several years.
Flutter Entertainment has announced a $5 billion share repurchase program, showing strong confidence in its future. Since its listing on the New York Stock Exchange earlier this year, this will be the company’s first share repurchase. According to CEO Peter Jackson, this move is a reflection of Flutter’s long-term vision.
Flutter announced:
“The Board has authorized a share buyback program of up to $5bn, expected to be deployed over the next three to four years and expected to launch following our third-quarter earnings in November 2024. The timing and the actual number of shares repurchased will depend on a variety of factors, including legal requirements, price, and economic and market conditions.”
The company will start the repurchase process within three to four years, after the third quarter earnings report in November 2024.
Fanduel’s growth
Flutter sees growth for its FanDuel unit, having a total global gaming revenue reach of $368 billion by 2030. By 2027, Flutter estimates revenue of $21 billion, translating to a three-year CAGR of 14%. This forecast includes an adjusted EBITDA exceeding $5 billion, indicating a significant margin expansion.
North America in the focus of Flutter
North America remains a key area of focus, with Flutter estimating its market potential at $70 billion, largely driven by FanDuel’s operations. The company’s international presence also supports its growth narrative, projecting a $298 billion market for global regulated wagering by 2030, driven by recent acquisitions in Brazil and Italy set to close by mid-2025.
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Flutter eyes $21B revenue by 2027
Flutter Entertainment plc announced its long-term growth strategy with $21B revenue by 2027.Flutter Entertainment plc, simply known as Flutter, is an international sports...
