Flutter's Profit Drop, New App Launch

Flutter, the worlds largest online betting company, has revised its profit growth projections downwards due to a surge in payouts from a winning streak by gamblers. Despite this, theyre expanding into event contracts with the FanDuel Predicts app, partnering with CME Group. This move, while promising, will cost them forty to fifty million dollars in the fourth quarter and another two hundred to three hundred million next year. Flutters third-quarter earnings beat estimates, but their full-year growth outlook fell short of expectations.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.