Flutter Entertainment's Shares Likely to Reflect Near-Term Uncertainty

Dow Jones08-10

1029 GMT - Uncertainties are likely to weigh on Flutter Entertainment's shares in the near term, Berenberg analysts Jack Cummings and Luka Trnovsek write in a note. The online sports betting and gaming company's U.S. segment struggles with a slowdown in revenue, which the company is trying to reverse through investments, leading to downgrades, they say. Meanwhile, U.K. tax changes and a disappointing Brazilian performance are weighing on its international unit. Although the company is undergoing a CEO change for the first time in a decade, issues persist, they note. "The loss of the architect of today's Flutter at such a turbulent time does pose questions about the near-term outlook," they add. Shares are up 0.3% at $95 premarket.

 

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