DraftKings & Flutter stocks drop 6% on regulation concerns
Stocks of DraftKings and Flutter Entertainment fell by over six percent.This drop was brought on by concerns that US sports betting companies, such as DraftKings and...
FOX Bet will be closed by the end of August
Fox and Flutter have recently announced the closure of FOX Bet.
Initially launched back in 2019 through a partnership between Fox Corporation and The Stars Group, FOX Bet made use of the media firm’s brand to offer sports wagering services in a number of jurisdictions across the United States, including Michigan and New Jersey. Following TSG’s acquisition by Flutter Entertainment three years ago, the latter continued helping the media company operate its gambling division.
Recently, the two companies have announced the forthcoming closure of the FOX Bet brand, which will be carried out through phases starting today. The operating firm will be fully phased out by the end of next month, with Fox retaining the rights to utilize the brand to launch a similar business division in the future. This will include the main FOX Bet and FOX brands, in addition to a few of its miscellaneous names and brands, such as FOX Bet Super 6.
Furthermore, Fox will also retain its option to purchase 18.6% of FanDuel, which was part of its operating contract with Flutter. The latter, on the other hand, will retain its ownership of FanDuel and PokerStars, which were added to its portfolio of brands through the acquisition of TSG back in 2020.
Flutter officially lists shares on the NYSE
Flutter has recently finalized the listing of its shares on the NYSE.The company originally proposed to list its shares on the US-based stock exchange back in February of...
