On Friday, Flutter Entertainment Plc (NYSE:FLUT) announced the departure of CFO Paul Edgecliffe-Johnson, causing a decrease in its stock price during premarket trading. Rob Coldrake, who previously served as CFO of Flutter’s international business, will replace him. The stock later recovered from its losses and was trading higher by the end of the day.
Flutter has seen significant growth in the U.S. market due to relaxed gambling laws, but this transition has not been without challenges, including a shareholder lawsuit in New York and a new tax on sports betting in Illinois impacting the company’s shares. Despite these obstacles, investors can still access the sports betting and gambling sector through various ETFs such as VanEck Video Gaming And ESports ETF (NASDAQ:ESPO) and Global X Video Games & Esports ETF (NASDAQ:HERO).
In its recent financial report, Flutter Entertainment reported strong fiscal 2023 revenue growth, with adjusted EBITDA and EPS also showing positive trends. As of the close of trading on Friday, FLUT shares were trading higher at $191.20. Investors looking for comprehensive stock analysis can turn to Benzinga Pro for the latest updates and insights.
+ There are no comments
Add yours