BlackRock increased its holding in Flutter Entertainment to more than 5% of the company’s capital, according to reports. The report also says Flutter may be considering leaving the London listing while retaining its New York listing; no decision was stated.
A stake above 5% gives investors a material ownership threshold to track in Flutter.
Quarter ended 30 September 2026
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Flutter, owner of Paddy Power, Sky Bet and FanDuel, announced on Tuesday it will cut about 15% of its workforce in the UK and Ireland, affecting up to 1,400 staff. The company said the restructuring responds to steep online gambling tax increases announced in last November's UK Budget. Flutter put the reorganisation cost at $80m to $90m.
Flutter, the owner of Paddy Power, Sky Bet and FanDuel, announced on Tuesday that it will reduce about 15% of its workforce in the United Kingdom and Ireland. The restructuring could affect up to 1,400 employees.
DraftKings shares touched $18.55 on Thursday before closing at $19.35, marking their lowest level in more than three years. Flutter shares also declined. The report linked investor concerns to weaker quarterly earnings, promotional spending and competition from prediction markets.
On Thursday, the sportsbook operator's stock touched roughly $18.55 and ended the session at $19.35, a level it had not seen in over three years. The slump was not confined to DraftKings: Flutter Entertainment, which owns FanDuel, was caught up in the same selling. Over the past year, the value of DraftKings shares has been cut by about half, the report noted.
Fanatics could increase its sports betting advertising spending to $1bn in the USA, citing chief executive Michael Rubin's comments to Bloomberg. The report describes the potential spending as part of an effort to challenge DraftKings and FanDuel.
Fanatics could raise its sports betting advertising spending in the USA to as much as $1bn in 2027, chief executive Michael Rubin told Bloomberg. The company expects to spend $350m on such advertising in 2026, according to the report.
Genius Sports chief executive Mark Locke said prediction-market activity could create opportunities for traditional betting suppliers even if regulation changes the sector. He said demand for sports wagering would persist, while the article reports that Kalshi’s retail demand was concentrated in states without online sportsbooks, citing July figures from Eilers & Krejcik.
Analysts cited in a research roundup discussed prediction markets’ potential effect on sports betting during the NFL season and Bally’s Chicago casino project. A Jefferies analyst said GLPI had committed $940 million to the development, with $475.7 million funded by 30 June, and noted investor attention on the project’s timeline and financing.