Flutter Entertainment PLC

Fanatics founder and CEO Michael Rubin at his office in New York.The Washington Post | Getty ImagesSports merchandise giant Fanatics is firing back against sportsbook giant DraftKings in an ongoing legal fight over Fanatics' hiring of a top DraftKings executive.In a legal brief filed late Thursday in U.S. District Court in Massachusetts, Fanatics accuses DraftKings of distorting reality and character assassination of its former senior vice president of business development, Michael Hermalyn.In February, Hermalyn accepted…

In this photo illustration the DraftKings logo seen displayed on a smartphone.Rafael Henrique | Sopa Images | Lightrocket | Getty ImagesDraftKings on Thursday posted quarterly results that missed Wall Street estimates on the top and bottom line, but it increased its revenue by 44%.Here's what DraftKings reported compared with what Wall Street was expecting, according to analyst estimates compiled by LSEG, formerly known as Refinitiv:Loss per share: 10 cents vs. expected profit of 8 centsRevenue: $1.23 billion vs. $1.24…

ESPN Bet is coming to the Big Apple.Penn Entertainment, which operates the sports betting platform, will pay Wynn Resorts $25 million for market access, it said Tuesday. It's the same amount Wynn paid New York state to operate there.Wynn Interactive, a subsidiary of Wynn Resorts, was awarded a New York mobile sports betting license in 2021. Penn was not — and it has missed out on the action from the nation's largest sports betting market.In the two years since New York launched online sports betting, at least $35.7…

FanDuel-parent Flutter lists on the New York Stock Exchange Monday, offering U.S. investors an alternative to the biggest pure play in sports betting, DraftKings.It's a secondary listing for the international sportsbook, which will retain its primary listing on the London Stock Exchange and included in the FTSE 100 index.But Flutter's most important market for revenue and growth is the United States, where FanDuel is the market share leader. In the fourth quarter, FanDuel had 43% market share based on gross revenue and…

FanDuel parent Flutter came out swinging Thursday, insisting the online gaming platform is the market leader in sports betting in the United States after DraftKings last week boasted it had taken over the top slot."We have a billion dollars more in revenue in the U.S., so we're very clearly number one," Flutter CEO Peter Jackson said in an interview with CNBC after an earnings conference call.Even as Jackson projected confidence in the company's market position, FanDuel's revenues failed to meet Wall Street expectations…

A shopper goes through shirts in the kids section at Old Navy in Denver, Colorado.Brent Lewis | Denver Post | Getty ImagesBy striking down student debt forgiveness Friday, the U.S. Supreme Court not only added a hefty expense back into millions of Americans' budgets. It also created the latest challenge for retailers already struggling to predict how consumers may spend in the coming months.The court's decision squashed President Joe Biden's plan to forgive up to $20,000 per borrower in federal student loan debt. Student…

Becky Lynch celebrates defeating Bianca Belair at SummerSlam 2021.World Wrestling EntertainmentIt's clear why World Wrestling Entertainment would want headlines over the prospect of bettors being allowed to wager legally on scripted matches, and not all of it has to do with trying to drive up the potential sale price of the company.Betting increases fan engagement. Just ask NFL, MLB, the NCAA – even the folks who organize ping pong. They all find a big upside when fans are able to bet on the games.Massachusetts just…

It was a record-breaking Super Bowl for sportsbooks as gamblers ponied up across the United States.Super Bowl 57 was the first one to be played in a state where sports gambling is legal, and early data shows there was a lot of enthusiasm for betting on the big game.GeoComply, a company that verifies the locations where gamblers are betting, saw 100 million sports-betting transactions this Super Bowl weekend, an increase of 25% over last year. In and around State Farm Stadium in Glendale, Arizona, more than 100,000…

In this photo illustration the FanDuel logo of a sports betting company is seen on a smartphone.Pavlo Gonchar| Lightrocket | Getty ImagesFanDuel parent Flutter Entertainment said Tuesday it is considering listing on a U.S. stock exchange.The company said its board is consulting with shareholders to gauge their interest.related investing newsThe development comes two days after a record Super Bowl for betting. FanDuel said it accepted 50,000 bets per second at its peak, averaging 2 million active users on its platform…

In this photo illustration, the Penn Entertainment logo is displayed on a smartphone mobile screen.Rafael Henrique | SOPA Images | Lightrocket | Getty ImagesPenn Entertainment on Thursday became the first U.S. gambling company to post a profit in its sports betting business during the final three months of a year.Usually, it's tougher to turn a sportsbook profit during the third and fourth quarters because companies spend more on marketing and promotions during football season.Penn's interactive business, which also…