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November 9, 2022 Online, Land Based, Finance, Results

Third Bridge analyst Lara Martinez weighs in on what lies ahead for Flutter

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Her comments are in response to the recent Q3 company report.

Flutter recently published its Q3 financial report, reflecting significant gains for the quarter. In response to the report, Third Bridge Analyst Lara Martinez issued a statement, speaking specifically about the company’s ongoing US growth strategy.

Flutter recently posted $2.18bn in overall revenue during its third quarter. The results reflected a 31% increase year-over-year. Martinez spoke about Flutter’s US growth plan and its share of the market. 

She said: “Historically, economic downturns do not have a significant impact on gaming or sports betting wallets. However, a longer and deeper recession may inevitably hit customers’ disposable incomes.

“Flutter’s successful US strategy is expected to continue, but there's an evident gap in their offering of casino products. The key challenge for Flutter is to maintain its current market share. Our experts expect the US market to be significantly more fragmented going forward. BetMGM or other operators may come up with a comparable product on sports.”

Martinez commented further about how Flutter could be affected by the UK’s Gambling Act White Paper.

She said in closing: “The UK Government’s Gambling Act White Paper’s impact is expected to be lessened for Flutter due to its heavy skew towards recreational players vs VIPs.”

As a global investment research firm, Third Bridge provides international hedge funds, mutual funds, private equity funds and management consultancies with unique and human-led insights. The company’s analysts specialize in offering investor intelligence for companies based on their operations, leadership, market environment and competitive dynamics.

Flutter Entertainment currently owns and operates FanDuel, a sports betting and gaming company that offers online casino, fantasy sports, horseracing and sportsbook products.

 

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