Flutter Entertainment (FLTR)

Sector:

Tourism and Leisure Services

Index:

FTSE 100

11,990.00p
   
  • Change Today:
    190.00p
  • 52 Week High: 12,055.00
  • 52 Week Low: 5,512.00
  • Currency: UK Pounds
  • Shares Issued: 154.78m
  • Volume: 241,456
  • Market Cap: £18,558m
  • RiskGrade: 178

MPs to vote on FOBTs next week, GVC shares fly

By Oliver Haill

Date: Friday 14 Dec 2018

LONDON (ShareCast) - (Sharecast News) - Shares in GVC Holdings were galloping higher on Friday after the confirmation that a parliamentary vote will be held next week on legislation to crack down on fixed-odds betting terminals.
The vote has been brought forward, which is very positive news for GVC shares because, if the legislation to limit the maximum wagers on FOBTs to £2 is approved, it will be enacted before the 28 March 2019 deadline that would have required GVC to pay a large lump sum to Ladbrokes Coral shareholders as part of a clause of the acquisition earlier this year.

GVC issued securities known as contingent value rights (CVRs) as part of the March takeover deal and would have had to pay £676m, representing around 18% of GVC's market cap, to Ladbrokes Coral shareholders if the law had not been passed at this time.

"Given the cross-parliamentary approval there has been for this gaming machine regulation, we expect the vote to be uncontentious," said analysts at Citigroup.

Barclays said that it was rather perverse that GVC's shareholders have been waiting for this news, given the material negative impact this change in law will have on cash flows from the Ladbrokes business.

Barclays also noted that GVC said it will announce something regarding the contract between Ladbrokes and Playtech, which analysts believe could be "an early termination of the contract thus bringing forward the synergies from the contract at least one year earlier than expected".

Furthermore, after GVC chief executive Kenny Alexander seemed bullish on the latest quarterly conference call, recent Oddschecker data suggests gross win margins in the fourth quarter so far "have actually been slightly better than average", the analysts we see the potential for an upgrade.

Shares in Paddy Power Betfair and William Hill were also higher on Friday.



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

FLTR Market Data

Currency UK Pounds
Share Price 11,990.00p
Change Today 190.00p
% Change 1.61 %
52 Week High 12,055.00
52 Week Low 5,512.00
Volume 241,456
Shares Issued 154.78m
Market Cap £18,558m
RiskGrade 178

FLTR Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
90.33% below the market average90.33% below the market average90.33% below the market average90.33% below the market average90.33% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
82.53% above the market average82.53% above the market average82.53% above the market average82.53% above the market average82.53% above the market average
94.52% above the sector average94.52% above the sector average94.52% above the sector average94.52% above the sector average94.52% above the sector average
Income
67.35% below the market average67.35% below the market average67.35% below the market average67.35% below the market average67.35% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
68.86% above the market average68.86% above the market average68.86% above the market average68.86% above the market average68.86% above the market average
4.35% below the sector average4.35% below the sector average4.35% below the sector average4.35% below the sector average4.35% below the sector average

What The Brokers Say

Strong Buy 7
Buy 0
Neutral 7
Sell 1
Strong Sell 2
Total 17
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

FLTR Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Sep-19 11-Apr-19
Paid 09-Oct-19 21-May-19
Amount 67.00p 133.00p

Trades for 12-Aug-2020

Time Volume / Share Price
16:36 49 @ 11,990.00p
16:36 89 @ 11,990.00p
16:36 445 @ 11,990.00p
16:36 160 @ 11,990.00p
16:36 266 @ 11,990.00p

FLTR Key Personnel

Chair Gary McGann
CEO Peter Jackson
CFO Jonathan Hill

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