Stock Spotlight: Flutter blames 'adverse' sports results for downgrade but investors stay bullish

Firm lowered adjusted EBITDA

James Baxter-Derrington
clock • 3 min read
The firm explained the 7% top-line reduction was a result of “unfavourable sports results”
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The firm explained the 7% top-line reduction was a result of “unfavourable sports results”

Flutter Entertainment remains an attractive company for investors due to the firm’s “strategic position” and recent US expansion, despite the £22.6bn betting giant downgrading its full-year earnings forecast as a result of ‘adverse’ sports results during October.

In its Q3 2021 results released last week (2 November), the owner of Paddy Power, Sky Bet and Betfair, among others, lowered its guidance for adjusted EBITDA to £1.24-1.28bn, down from its earlier prediction...

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