Flutter Entertainment (FLTR)

Sector:

Tourism and Leisure Services

Index:

FTSE 100

8,710.00p
   
  • Change Today:
      46.00p
  • 52 Week High: 8,924.00p
  • 52 Week Low: 5,525.00p
  • Currency: UK Pounds
  • Shares Issued: 78.26m
  • Volume: 93,003
  • Market Cap: £6,817m
  • RiskGrade: 121
  • Beta: 0.85

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 8,710.00p
Change Today 46.00p
% Change 0.53 %
52 Week High 8,924.00p
52 Week Low 5,525.00p
Volume 93,003
Shares Issued 78.26m
Market Cap £6,817m
Beta 0.85
RiskGrade 121

FLTR Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
84.95% above the market average84.95% above the market average84.95% above the market average84.95% above the market average84.95% above the market average
78.08% above the sector average78.08% above the sector average78.08% above the sector average78.08% above the sector average78.08% above the sector average
Income Not Available
Growth
71.82% above the market average71.82% above the market average71.82% above the market average71.82% above the market average71.82% above the market average
63.38% above the sector average63.38% above the sector average63.38% above the sector average63.38% above the sector average63.38% above the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 8
Sell 0
Strong Sell 2
Total 14
neutral
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 06-Dec-2019

Time Volume / Share Price
16:35 516 @ 8,710.00p
16:35 60 @ 8,710.00p
16:35 17,573 @ 8,710.00p
16:29 20 @ 8,702.00p
16:29 10 @ 8,700.00p

FLTR Key Personnel

CEO Peter Jackson
CFO Jonathan Hill

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