Flutter is undervalued relative to FanDuel
Flutter Entertainment is highly attractive at current levels because the entire company is valued at less than what its FanDuel unit was previously acquired for, as argued by Chad Beynon of Macquarie.
The argument
Beynon argued that despite the stock dropping precipitously due to market concerns over prediction markets, Flutter holds leading global positions in sports betting and iGaming, making the valuation disconnect compelling.
The thesis, stress-tested
✓ What validates it
- ✓Stabilization or growth in market share for FanDuel/Flutter in key US states
- ✓Free cash flow inflection matching or exceeding 2025/2026 targets
▸ Risks discussed
- ▸Competition and valuation pressure from emerging prediction markets
- ▸Regulatory hurdles governed by the CFTC or state-by-state sports betting boards
Hear it yourself
"We are big fans of Flutter Ticker Flut. The company is worth less than what FanDuel was acquired for. I mean, this company has really dropped off precipitously and they hold podium positions around the world in sports betting and eye gaming."
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