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Punters winning more NFL bets are set to dent FanDuel owner Flutter’s profits

The house always wins — just a little less last quarter.

1/8/25 11:37AM

DraftKings’ biggest rival and the world’s largest online-betting company, Flutter Entertainment, is seeing a short-term hit to its bottom line from customers’ sweetest dream: gamblers are winning too much.

In a surprise trading update on Tuesday, the group (emphasis ours) detailed that:

“The 2024/2025 NFL season to date has been the most customer friendly since the launch of online sports betting with the highest rate of favorites winning in nearly 20 years.”

The “very unfavorable US sports results” are set to cost Flutter Entertainment some ~$390 million in revenue, with the company’s shares listed in London opening down 5% this morning — though the stock has since recovered all of that initial drop, with rival DraftKings also trading higher.

It’s ironic that it should be the NFL — America’s favorite league to bet on — at the heart of Flutter’s current issues, as the Dublin-headquartered group has increasingly placed its own chips on the US market, including abandoning the London Stock Exchange to move its primary listing to New York last May.

Since first combining with FanDuel seven years ago, Flutter has grown rapidly, capitalizing on the changing regulatory landscape in America, which has quickly become the company’s most important region: revenues from the US market now account for 38% of its business, up from just 12% in 2020.

Elsewhere, sports results continued a “good momentum” in the UK and Ireland region (read: punters are still losing on the English Premier League).

Millie Giles

WITHDRAWALS

Bank branches are still closing at breakneck speed in the US

Institutions like Chase and Wells Fargo closed 76 locations in just six weeks over the summer, per the OCC.

Indianapolis - March 2016: Chase Bank III

Nia Warfield

9/9/25

Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

385 ✈️ 434

Max Knoblauch

9/9/25

Boeing on Tuesday announced that it delivered 57 commercial jets in August, its best total for the month in seven years. That brings its year-to-date delivery total to 385 planes, eclipsing its full-year 2024 figure by about 11%.

The August figure marked Boeing’s second-highest delivery total of 2025 and represented a 43% jump from the same month last year. Through August, Boeing has boosted its deliveries by 50% from last year.

The plane maker is still trailing its European rival Airbus, which delivered 61 planes in August and 434 year to date.

Nia Warfield

9/8/25

Tariffs finally crept into retail's latest earnings results. Who were the winners and losers?

The long-awaited levies took a toll on nearly every retailer, but execution separated who could steer through the costs.