By The Weekly Edge desk ·
Sportradar agreed a $170m sale, European Gaming reported in its gambling stocks review for 5–9 October. Six of the nine stocks tracked gained during the week, while Citi upgraded Flutter.
Investors saw six of nine tracked stocks gain during a week featuring Sportradar’s sale agreement and Citi’s Flutter upgrade.
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The forecast and sports share indicate the scale of a growing market in which established US bookmakers are seeking a larger presence.
The review could lead to disclosure of communications relevant to former shareholders’ claims over the 2018 merger proceeds.
Dan Taylor’s arrival as Flutter group CEO and Allwyn’s new chief technology officer change leadership at both companies.
DraftKings and Flutter share declines reflect investor concerns over weaker earnings, promotional spending and prediction market competition.
Fanatics’ potential $1bn advertising spend would support its effort to challenge DraftKings and FanDuel in US sports betting.
Fanatics plans to increase marketing spending from $350m to $800m, potentially $1bn, to narrow the gap with DraftKings and FanDuel.