Flutter keeps blaming different sets of sports fans for ruining its results
After posting disappointing earnings, most companies vaguely gesture toward the wider economic climate to explain missed estimates to their demanding investors. Gambling giant Flutter Entertainment, on the other hand, has an ace up its sleeve: blame it on the prowess of the customers themselves.
In an interview with CNBC, Flutter CEO Peter Jackson circled out “customer-friendly” results in this year’s NCAA March Madness tournament — where the Final Four teams were all No. 1 seeds — to explain why the FanDuel parent company missed top- and bottom-line expectations in Q1.
At the start of the year, though, it was football fans who apparently weighed heavy on the financials of the world’s biggest online betting company, with Flutter publishing a surprise trading update pointing to the adverse effects of the NFL’s “highest rate of favorites winning in nearly 20 years.”
While DraftKings’ biggest rival is maintaining guidance for 2025, it seems like the company looking to fans’ skills and “poor sports results” to explain its own underperformance is becoming a bit of a safe bet.
In an interview with CNBC, Flutter CEO Peter Jackson circled out “customer-friendly” results in this year’s NCAA March Madness tournament — where the Final Four teams were all No. 1 seeds — to explain why the FanDuel parent company missed top- and bottom-line expectations in Q1.
At the start of the year, though, it was football fans who apparently weighed heavy on the financials of the world’s biggest online betting company, with Flutter publishing a surprise trading update pointing to the adverse effects of the NFL’s “highest rate of favorites winning in nearly 20 years.”
While DraftKings’ biggest rival is maintaining guidance for 2025, it seems like the company looking to fans’ skills and “poor sports results” to explain its own underperformance is becoming a bit of a safe bet.
