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In a recent regulatory filing, Flutter Entertainment plc, the parent company of 06 Technology, announced an update on its total voting rights. The disclosure, made to comply with the United Kingdom (TADAWUL:4280) Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, was released on Monday. According to InvestingPro data, Flutter Entertainment has grown into a $49.16 billion market cap company, with its shares surging over 33% in the past six months.
The announcement, submitted via the Regulatory News Service in London, is part of Flutter Entertainment’s routine regulatory requirements. The company, formerly known as Stars Group Inc. and Amaya Inc., is incorporated in Ireland and has its principal executive offices in New York, New York.
Flutter Entertainment, which operates in the computer programming and data processing sector under the SIC code 7370, is listed on the New York Stock Exchange under the ticker symbol FLUT. The company’s ordinary shares have a nominal value of €0.09 per share. With annual revenue of $13.57 billion and a gross profit margin of 47.2%, Flutter has established itself as a significant player in the sector. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with 13 key investment tips available for subscribers.
The filing did not disclose specific details regarding the changes in voting rights. Investors and stakeholders rely on such disclosures to assess their influence over corporate decisions and understand the distribution of voting power within the company.
The information provided in this article is based on a press release statement and the company’s Form 8-K submitted to the U.S. Securities and Exchange Commission on March 3, 2025. Such filings are essential for maintaining transparency in the market and providing investors with current information about a company’s governance and potential changes in control or influence. Investors should note that Flutter’s next earnings report is scheduled for March 4, 2025. For deeper insights into Flutter’s financial health, governance, and valuation metrics, access the comprehensive Pro Research Report available on InvestingPro.
Flutter Entertainment’s update on voting rights serves as a routine yet critical piece of information for market participants who track corporate governance matters and the implications these might have on shareholder value and corporate direction.
In other recent news, Flutter Entertainment has announced it will release its fourth quarter and full-year financial results for 2024 on March 4, 2025. This disclosure was made to comply with regulatory requirements, and the company plans to host a webcast and conference call to discuss these outcomes. UBS analysts have shown optimism towards Flutter Entertainment by raising the stock’s price target from $320.00 to $335.00, maintaining a Buy rating. This adjustment follows a significant upgrade cycle in the company’s US operations, with FanDuel reporting revenues of $6.35 billion and an adjusted EBITDA of $790 million for 2024, surpassing initial guidance.
BofA Securities also reiterated a Buy rating on Flutter Entertainment, with a price target of $310.00, noting strong performance metrics from its FanDuel platform. This comes amid robust data surrounding Super Bowl betting activity, which supports the firm’s positive outlook on the US online sports betting market. Meanwhile, FanDuel has reported high engagement with its responsible gaming tool, My Spend, with nearly half of its user base utilizing the feature during the NFL season. The company continues to emphasize customer well-being by enhancing its responsible gaming technology.
In contrast, TD Cowen adjusted its outlook on DraftKings (NASDAQ:DKNG) and Flutter Entertainment, citing evolving tax strategies that may impact the online sports betting landscape. Despite these challenges, analysts remain confident in Flutter’s ability to sustain its financial performance, particularly with FanDuel’s success in the US market.
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