|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||5,648.00 - 5,794.00|
|52 Week Range||5,390.00 - 7,340.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||23.61|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||6,690.83|
Paddy Power Betfair, touted "huge progress" in the developing U.S. market and a strong first quarter for its established Australian business as revenue rose by 17 percent despite sports results favouring gamblers. The Dublin-based group merged its U.S. business with fantasy sports company FanDuel last year to target a market set to open up in the coming years. On Thursday said that had resulted in a 47 percent jump in U.S. revenue for the three months to March 31, accounting for just over 15 percent of group sales.
The implied chance of a no-deal Brexit tumbled to under 5 percent on the Betfair online exchange on Friday, after the European Union agreed a range of possible extensions to the process. The move reflects the wagers placed on the Betfair system which is one of Europe's most widely-used peer-to-peer betting exchanges. Betfair charts showed the implied probability had been as high as 27.5 percent.
Paddy Power Betfair plans to rename as Flutter Entertainments to reflect its growing number of brands, the Irish-headquartered bookmaker said on Wednesday after announcing full year profit at the upper end of its guided range. The company in May agreed to merge its U.S. business with fantasy sports company FanDuel and in February bought a 51 percent stake in Adjarabet, an online betting and gaming company based in Georgia. "With a growing portfolio of brands, we plan to rename the Group as Flutter Entertainment plc," Chief Executive Peter Jackson said in a statement.
The betting odds have shifted sharply towards British Prime Minister Theresa May surviving a no-confidence vote on Wednesday after a leadership contest was called by lawmakers upset by her handling of Britain's planned exit from the European Union. The shift comes after a flurry of bets that she will win the vote and more than half of her Conservative Party lawmakers publicly backed the prime minister, meaning she would survive and cannot be challenged again for another year. The likelihood that May will the win the vote has risen to 89 percent, according to bookmakers William Hill, Paddy Power and Ladbrokes.
Voluntary deal reached to stop showing betting adverts during live soccer broadcasts. Major bookmakers, including Paddy Power and Ladbrokes spend between up to £50 ($63.7 million) million on television advertising per year. Television advertising helped the U.K. gambling industry see £5.35bn ($6.82 billion) wagered online during in 2017.
The National Hockey League on Monday announced that FanDuel Group, a unit of Paddy Power Betfair PLC, would be an official sports betting partner. The multi-year, non-exclusive deal comes on the heels of an agreement between the NHL and another official sports wagering partner, MGM Resorts International, announced Oct. 29. The New Jersey Devils also partnered with FanDuel, making it the company's first sports betting deal with an NHL team.
Paddy Power Betfair (PPB.I), (PPB.L) lifted the bottom end of its full year earnings guidance range on Friday as a strong performance in its main online business outweighed a run of unfavourable sports results in the third quarter. It narrowed that range, which excludes losses at its newly merged U.S. sports betting business, to 465-480 million pounds after third quarter revenue grew by 12 percent and earnings were flat, pushing its shares up 1.8 percent by 0850 GMT. In Europe, the encouraging momentum that we saw in Q2 accelerated further, with online revenue up 15 percent," Chief Executive Peter Jackson said in a statement, crediting investments in products and marketing.