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Jun 13 2019, 08:05 IST/BST
Gaming
NJ data confirm FLTR dominance in US; NH to legislate sports betting
- Sectors : Gaming
- Companies : Flutter Entertainment | Entain | William Hill plc
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| William Hill plc | NEUTRAL | 13/02/14 | Outperform | 16/02/11 | 145p |
| Flutter Entertainment | OUTPERFORM | 08/05/19 | Neutral | 29/08/17 | 5832p |
| Entain | NEUTRAL | 13/12/17 | N/A | N/A | 619p |
DAVY VIEW
Twelve months on from the first New Jersey (NJ) sports bet, a number of important patterns have emerged. Firstly, Meadowlands (FanDuel) is now the undisputed number 1 player in the market with 52% year-to-date online market share (54% of total market). Secondly, online now represents 83% of the market, serving as an important reminder to other states currently debating the best shape for their respective sports betting industries. And, finally, the cross-sell opportunity, most notably into online casino, suggests that the total gaming opportunity will be materially bigger than previously anticipated. We must wait and see to what extent this is repeated in other states over time, but the outlook is promising. Flutter Entertainment (FLTR) is uniquely positioned in the US in our view, therefore representing the best way to play the emerging US opportunity.
