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Macquarie sees higher NFL hold boosting DraftKings and Flutter Q4 earnings

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Macquarie analyst Chad Beynon said stronger NFL betting margins in November and December could help DraftKings and Flutter Entertainment exceed fourth-quarter earnings expectations. Macquarie estimated full-quarter hold rates of about 12% for Flutter and 9% for DraftKings, with potential additional EBITDA of $100 million to $200 million and $50 million to $100 million, respectively. The companies were scheduled to report results on 26 February and 12 February, respectively.

The estimates indicate how NFL betting margins could affect the operators’ reported quarterly earnings.

End-of-day close DraftKings (DKNG), USD, to 6 March 2026
Story date8 December 20256 March 2026

Latest reported results

DraftKings NASDAQ: DKNG

Quarter ended 30 September 2026

Revenue
USD 1.33bn10-Q filing 0001883685-26-000041
Operating income
−USD 493.1m10-Q filing 0001883685-26-000041

Flutter NYSE: FLUT

Quarter ended 30 September 2026

Revenue
USD 3.87bn
Operating income
−USD 1.19bn10-Q filing 0001635327-26-000059

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