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Truist analyst raises cash-flow forecasts for DraftKings and Flutter

Deals & M&A

Truist Securities analyst Barry Jonas raised his cash-flow forecasts for DraftKings and Flutter in a 3 February investor note, according to the report. He projected DraftKings cash flow of $325 million, up from $223 million, and Flutter cash flow of $340 million, up from $323 million, for the fourth quarter of 2025. Jonas said investors would also weigh the companies’ 2026 guidance and commentary on prediction markets.

The revised estimates give investors updated analyst forecasts ahead of the companies’ fourth-quarter earnings.

End-of-day close DraftKings (DKNG), USD, to 20 March 2026
Story date22 December 202520 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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Deals & M&A

Flutter weighs FanDuel prediction market spending and profit potential

Flutter Entertainment chief executive Dan Taylor said on its 4 November earnings call that the company expects more clarity in the coming months on the economics of FanDuel Predicts. FanDuel recorded $119 million in trading volume in the third quarter; Flutter expects its market-making operation to generate $50 million in revenue and $40 million in adjusted EBITDA during 2026.

Dan Taylor, Flutter's chief executive, told the third-quarter earnings call on 4 November that the coming months should sharpen the company's view of how its prediction market business makes money. At issue is whether FanDuel Predicts can turn a profit by itself, or can only help recruit customers in states that could later permit online sports betting.

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