Mergers

14 Aug

Playtech Shares Jump 19% on Flutter Interest in Italian Unit

stp2y0 CommentsRAG modelsacquisitions, Consumer Discretionary, europe, FLUTTER ENTERTAINMENT PLC-DI, Great Britain, Italy, Markets, Mergers, Milan, PLAYTECH PLC, sports, Technology

Playtech Plc’s shares jumped the most in almost three years after the European gaming company confirmed reports it was in exclusive talks with Flutter Entertainment Plc on the potential sale of its Italian unit, Snaitech, for about £2 billion ($2.6 billion).The London-listed company confirmed the discussions in a statement Wednesday, following a report by Sky News. Playtech said it had granted Flutter a period of exclusivity to complete due diligence and finalize transaction documentation. Source link lol

14 Aug

FanDuel-Parent Profit Beats, Won’t Match DraftKings Surcharge

stp2y0 CommentsRAG modelsDRAFTKINGS INC-CL A, Earnings, FLUTTER ENTERTAINMENT PLC-DI, Illinois, industries, IPOs, london, Mergers, new york, social media, Taxes, Technology

Flutter Entertainment Plc shares soared as much as 11% in extended trading after the company, the operator of the FanDuel online sportsbook, reportedBloomberg Terminal second-quarter sales and profit that beat analysts’ expectations.Flutter, which recently moved its stock listing to the New York Stock Exchange from London, generated revenue of $3.61 billion in the quarter, exceeding estimates of $3.37 billion. Adjusted earnings rose to $2.61 a share, exceeding expectations of $1.70. Source link lol