May 30, 2024 7:29 AM EDT
A surging U.S. market is bolstering what was already the world’s largest betting company. Flutter had 13.7 million monthly players as of March 31 and revenue grew 25% to $11.8 billion in 2023, though it made a $1.2 billion loss after tax. It’s the parent company of online-gaming powerhouse FanDuel, which, amid a sports-betting boom, has made and expanded deals with leagues including the NBA, NHL, NFL, and MLB, as well as teams. Flutter plans to switch its primary stock listing from London to New York to capitalize on the U.S. market, which opened up after the Supreme Court struck down a federal law in 2018 that barred sports betting in several states. But Flutter’s growth comes at a time when betting scandals and U.S. gambling addiction are in the spotlight. FanDuel and other companies formed the Responsible Online Gaming Association in March, in an attempt to self-govern.
ncG1vNJzZmismaKyb6%2FOpmZvcWhlgXl%2Bjp%2Bjrqykmr9usc2tnKuskZ67rrHNrWY%3D