Flutter Leisure To Discover Partial Preliminary Public Providing For FanDuel In The U.S.

Closeup of a craps table with dice and fiches (3d rendering)


Deal overview

On March 15, 2021, Flutter Entertainment PLC (OTC US: PDYPY, US $ 117.75, market cap: US $ 41.24 billion) announced that it was considering strategic options for its US FanDuel business, including a partial listing in the the USA The company’s clarification is in response to recent press speculation about FanDuel’s possible IPO. The company has stated that no decision has been made and has indicated that a further formal announcement will be made once a decision has been made to proceed with a listing in due course. Flutter Entertainment would hold the remaining stake in FanDuel and continue to grow as a global sports betting and gaming company. Flutter’s share price rose nearly 6% on the day of the announcement.

Flutter Entertainment PLC and price history

Spin-off research

FanDuel was founded as a fantasy sports company in 2009 and has grown to become America’s largest online sports betting business with a market share of around 40%. Flutter completed the merger with The Stars Group in May 2020 and bought another 37% stake in FanDuel from its early private equity investors in December 2020. The company had already bought a 58% stake in FanDuel in 2018% acquisition, the company increased its stake to 95%. Flutter noted that the FanDuel deal raked in an enterprise value of $ 11.2 billion, a discount of over 40% on the enterprise value of DraftKings, a distant second player in the U.S. market.

Breaking up with Fanduel is not easy, however. Fox

The company, the media giant chaired by Rupert Murdoch, is one of the 10 largest shareholders in Flutter and holds a 2.6% stake. While Flutter owns 95% of FanDuel, it has an agreement with Fox that gives Fox the right to acquire an 18.6% stake in the business with an option of 10 years from June 2021. The deal dates back to Flutter’s merger in May 2020, valued at $ 12.3 billion, with Canadian gaming company Stars Group, which had a 25-year license with Fox to use the Fox Bet brand. Flutter needs to resolve these ownership issues ahead of Fanduel’s potential IPO.

Carve-out details and top 5 shareholders

Carve-out details and top 5 shareholders

Spin-off research

Deal justification

Flutter’s spin-off from FanDuel aims to address Flutter’s undervaluation from its peers as the stock market has clearly not adequately valued Flutter’s strong market position. The company noted that its U.S. revenue in 2020 was $ 896 million, higher than that of DraftKings ($ 644 million) and higher than the combined revenue of its two closest counterparts, DraftKings and PennNational (a casino and racetrack operator). Additionally, Flutter shareholders are frustrated that the stock market has not adequately valued this strong market position. FanDuel’s closest rival, DraftKings, has a stock market value of $ 28.6 billion.

Before the price rise on the day of the announcement, Flutter was valued at £ 27.7 billion ($ 38.5 billion). This isn’t much of a difference given that Flutter also owns a host of other well-known and profitable betting brands. Accordingly, some investors have pushed Flutter to outsource FanDuel, finding that the latter could achieve a stock market valuation of up to $ 37 billion, well above the current market cap of its closest colleague DraftKings ($ 28.6 billion). DraftKings celebrated one of the most successful stock market debuts in the US last year. It hit the market at $ 10 per share in April 2020 through a merger with a Special Purpose Acquisition Company (SPAC) or a blank check firm called Diamond Eagle Acquisition Corp, which was listed in 2019. The stock closed on Friday at an all-time high of $ 71.98.

A separate listing from FanDuel will help unlock the value and offer investors the opportunity to join a pure and market leading US sports betting and i-gaming provider (as well as FanDuel’s daily FantasyD sports store and the provider of Horse races with the same Mutuel), TVG) without having to own the current disadvantageous regulatory risk of Flutter shares. The proceeds from the IPO will expedite Flutter’s deleveraging process as a partial sale of its stake in FanDuel would erase most of FLTR’s debt. In addition, the IPO could provide a pricing mechanism and maximize FOX’s option to acquire an 18.5% stake in FanDuel which is valued at market price.

The global betting and gaming market achieved gross gaming sales of £ 345 billion (“GGR”) in 2019 with an online share of just 13%. The online sector has had a long period of growth. Average annual growth of 10% is expected through 2024. While there are many exciting market opportunities, the rapidly regulating US market is arguably the most attractive to the company and Flutter has already established a leadership position in that market. Recently, Flutter increased its TAM for its US market to over £ 14 billion ($ 20 billion) in 2025 as the number of US states braces to legalize sports betting. The increase in spending patterns in states where the company went live, such as New Jersey, Pennsylvania, and Michigan, is also a good sign for the company. The company now expects 65% of the US adult population to have online sports betting by 2025, compared to 50% earlier, and iGaming is expected to be accessible 16%, compared to 11% earlier. As of the fourth quarter, the company had a 40% market share in online sports betting and 20% in iGaming in the US. FanDuel Sportsbooks are online in 10 states after their launch in Michigan and Virginia. It has now reached nearly a quarter of the US population.

Key data

Key data

Spin-off research

Company description

Flutter Entertainment PLC (parents)

Flutter Entertainment plc (OTC US: PDYPY) is a global sports betting and gaming company and part of the FTSE 100 and Euro Stoxx 50. Flutter Entertainment plc reports on four divisions: Flutter UK & I, Flutter International, FanDuel Group and Sportsbet. The UK & I division, consisting of Paddy Power, Betfair and Sky Betting & Gaming, forms the combined business in Great Britain and Ireland. The brands operate primarily online and also include more than 620 Paddy Power betting shops in the UK and Ireland. The international division operates in a number of areas around the world and is probably best known for its flagship brand, PokerStars, the world’s largest online poker site. Other notable brands include Betfair International, PokerStars Casino, PokerStars Sports, Junglee Games, and Adjarabet. The FanDuel Group, the company’s US division, consists of the brands FanDuel, FOX Bet, TVG, PokerStars and Betfair. The Sportsbet brand is the leader in online sports betting across Australia. For FY20, the company had sales of £ 4.4 billion.

FanDuel Group (spin-off)

The company’s US division consists of the brands FanDuel, FOX Bet, TVG, PokerStars and Betfair. The division has a diverse range of online and retail sports betting, online gaming, poker, advanced deposit betting on horse racing and television broadcasts. It is the market leading online sports betting and casino operator in the fast growing US market and the group is well positioned to continue to seize this opportunity. FanDuel now offers online sports betting in 10 US states, most recently in Virginia and Michigan. Voting to legalize the practice in other major states, including New York, Texas, North Carolina and Montana, is slated for later this year.

organization structure

organization structure

Spin-off research

King Road Cove Begins Providing Dwell Leisure at Decreased Capability | Enterprise

Publisher’s Note:The Chronicle is working to help local businesses suffering from the effects of the spread of the COVID-19 virus and related government orders to close or restrict trade. Each issue of The Chronicle and at will feature a feature on a local business chronline.com move forward. To be considered, send an email to the newsroom at news@chronline.com. In addition, The Chronicle will continue to offer its coverage of the coronavirus and its impact across the community, state, and nation outside of our paywall chronline.com.

After nearly a year of closure, the King Street Cove performance center in Centralia was alive last Thursday with the music of local musicians as the cove is 25% busy, according to state entertainment restrictions.

King Street Cove’s owner Jamie Kaiser bought the former synagogue, which was built in the 1930s, with the aim of restoring the old building and creating a place for local musicians to showcase their talents.

The entertainment venue provides musicians with a place to perform with quality sound and lighting equipment.

“My real passion is supporting musicians, so I do sound and light. They spend their entire lives sitting on the edge of the bed and practicing, and I believe my goal is to honor them for the practice and the dedication they have put in, “Kaiser said.

Renovations to the music venues were completed in late 2019 to early 2020, but the bay had to close shortly afterwards due to the COVID-19 pandemic.

“Last week we had about 22 people here and it was great … it’s kind of an open mic until we get some steam,” Kaiser said.

There are many professional musicians who have chosen King Street Cove because it’s a place that is much more conducive to live performance than a bar environment, Kaiser said.

“When you’re trying to sing a song that you wrote and there are darts and pool tables, people screaming and playing soccer games, we’re trying to create a nice music environment where people can sit back and enjoy and have a glass of it can wine, ”said Kaiser.

Kaiser is getting on the shows as COVID-19 restrictions allow and hopes to have live entertainment on Thursdays, Fridays and Saturdays and to show movies on Sundays.

There is no fee for the Thursday night shows, but there is a donation box to support the musicians.

Tickets will go on sale when the bay is full of concerts.

“I like it when people show their talents, whatever they are – poetry, reading or singing. We had people come and paint pictures while people sing, just to show their art, ”Kaiser said.

King Street Cove seats approximately 150 people upstairs at full capacity. There is also a cafe on the ground floor that serves drinks during the shows. The cafe will eventually serve food as COVID-19 restrictions relax and proper approvals from the Department of Health are sought.

Kaiser said the bay is always open to partnering with the Fox Theater for entertainment. The two venues joined forces late last year to host live streaming concerts in support of local entertainment professionals, but had to postpone the event due to stricter COVID-19 restrictions put in place in December.

Scott Stolarz, executive director of the Fox Theater, said the live streaming concerts will be postponed for some time in March.

“The aim of these live streaming concerts is to support the creative industries and give musicians the opportunity to perform and to supplement some of the loss of income from the shows that did not take place last year,” said Stolarz.

More information on the upcoming live streaming concerts will be announced early next week, Stolarz said. King Street Cove will continue to host open mic events on Thursday evening at 7 p.m. and will post announcements of additional events on their Facebook page @kingstreetcoveWA.

King Street Cove is located at 200 S. King St. in Centralia.

Cedar Level Providing Full Season of Leisure in 2021

Sandusky, OH – Cedar Point has a full season of entertainment in 2021, including celebrating its 150th anniversary in the heart of summer.

With the health and safety of guests and staff at the forefront, Cedar Point is excited to offer a full season of entertainment in 2021.

Also returning are special events, a spectacular nightly parade and party, a new family river adventure trip and the chance to win the unparalleled ticket of a lifetime.

Border festival

Celebrating Hope, Health and Harvest, the Frontier Festival kicks off the season on opening day, Friday May 14th. Frontier Town transforms into a Wild West hootenanny full of live music, interactive games for adults and children, festive decor and street performers, and a delicious menu and drink menu.

The Frontier Festival takes place on the weekend of May 14-16 and May 21-23, then every day from May 28th to June 13th.

Snake River Expedition

Parents, children, grandparents, and thrill seekers can join the mission to smuggle valuable goods around Adventure Island on the new Snake River Expedition cruise.

The Snake River Expedition is scheduled to open on May 29th and will be in operation through Labor Day on September 6th.

Celebration of the 150th anniversary

The heart of summer is set to warm as Cedar Point’s 150th anniversary continues. The centerpiece will be the Celebrate 150 Spectacular Parade and Night Party, with larger-than-life floats (some more than two stories high) depicting moments in the park’s rich history, talented dancers, acrobats and performers, an energetic soundtrack, and a grand finale like Nothing else.

Special commemorative items will also be available during the celebration, including limited edition buttons, collection pens, 150th anniversary logo items, books and more.

The 150th anniversary celebration takes place daily from June 26th to August 15th.

Ticket of a lifetime

This summer, guests have one last chance to win a Cedar Point Ticket of a Lifetime, an exclusive ticket that allows each winner (along with three guests) free entry to Cedar Point and Cedar Point Shores for the rest of their lives Waterpark has.

Guests have the chance to win one each day by scanning their mobile devices at the Courtesy Corps guest information kiosks throughout the park. Every day, guests who register have five chances to win the ticket of a lifetime. You also have the option to be one of 150 winners per day to be upgraded to the CP 150 VIP Club which gives you access to two exclusive VIP areas, several one-time Fast Lane passes, VIP tour of the parade and night time get party and more. During the celebration of the 150th anniversary from June 26th to August 15th there is the opportunity to win a Ticket of a Lifetime every day in the park.

Cedar Point Nights

The summer season culminates in Cedar Point Nights, the park’s nightly celebration at the place where it all began – Cedar Point Beach. The annual festival features a new dining in the dark experience, interactive beach games, fire pits, glow games and décor, live entertainment and the electric nighttime atmosphere of the world’s best rides and roller coasters.

Cedar Point Nights will be held while the park will operate from August 6th through Labor Day September 6th.

For more information on Cedar Point, see cedarfair.com.

Check out our local and state newscasts, day and night, for that story and more.

#wlenradio #wlennews #lenaweenews

Esports Leisure Group closes $30m registered direct providing

Online gambling company based in Malta Esports Entertainment Group, Inc.. (SEE) announced that it has closed its registered direct offering of common stock resulting in total gross proceeds of $ 30 million (~ £ 21.64 million).

EEG sold 2 million shares of common stock at a price of $ 15 (£ 10.81) per share, valued at market price under NASDAQ rules.

Photo credit: Esports Entertainment Group

CONNECTED: Esports Entertainment Group plans to expand US gambling with New Jersey

While EEG has been active in sports since 2008, the company’s influence has increased significantly in recent years. Esports Entertainment Group was the first esports betting company to go public in April 2020. The NASDAQ debut brought in warrants and common stock worth approximately $ 2.75 million (~ £ 2.18 million) as of May 31st.

At the time, the company stated that its investments would help provide the “resources needed to execute its business plan”.

CONNECTED: ESE Entertainment announces partnership with Sector Six Apparel

In recent years, the EEG has made various important agreements, which include partnerships with teams such as value and the Baltimore Ravens, on acquisitions of Argyll Entertainment and the Esports Gaming League (EGL).

Just this week, EEG submitted its gaming license to the New Jersey Division of Gaming Enforcement (NJDGE). If the license is approved, the EEG can operate and maintain weather in the Garden State, including via the sports-oriented sports betting VIE.gg.

Esports Insider Says: EEG has quickly become a powerhouse in the esports industry due to its partnerships between multiple organizations and regions. With the expansions in New Jersey and Canada possibly coming soon, we expect many more announcements in the near future.

ESI Digital Spring | March 30th to 31st

Corridor of Fame Resort & Leisure Firm Broadcasts Pricing of Upsized $30.zero Million Underwritten Public Providing


3 large dividend stocks that yield at least 9%; BTIG says “buy”

How important are dividends to a stock investor’s bottom line? Investment guru John Bogle addressed the financial industry regulator (FINRA) on October 15, 2007: “For the past 81 years … reinvested dividend income has accounted for approximately 95 percent of long-term returns generated by companies in the S&T. P 500. These astonishing numbers seem to require mutual funds to emphasize the importance of dividend income. “In other words, dividends are pretty important! Of course, the average stock of the S&P 500 currently only pays a dividend yield of 2%, which isn’t much. However, if you want to do better, the REIT sector is a great place to start your search for high yield dividend stocks. REITs are companies that acquire, own, operate and manage real estate portfolios, typically a combination of residential or commercial real estate or their related mortgage loans and mortgage-backed securities. Tax law requires these companies to return profits directly to shareholders, and most of them choose dividends as their preferred means of compliance, often resulting in high dividend yields across the industry. The slowly waning COVID pandemic has been tough on property managers as tenants struggled to earn rents and owners struggled to rent vacant space. However, BTIG analyst Tim Hayes believes there are reasons to be bullish on CRE real estate. “While we recognize headwinds for commercial real estate (CRE) fundamentals and the potential risk to equity / earnings power, we believe there are several reasons to be constructive, especially when the sector is at a discount to historical Trades level and offers attractive dividend yields with wide spreads at reference rates, “commented Hayes. With that in mind, we opened the TipRanks database to get the latest statistics on Hayes’ CRE choices. These are stocks for which the analyst has initiated buy ratings, which indicate their high dividend yield. We are talking about at least 9%. Ares Commercial Real Estate (ACRE) The first dividend pick we look at is Ares Commercial Real Estate, a company focused on the commercial real estate mortgage sector. Ares has a diversified portfolio of office space, apartments, hotels and mixed-use properties – mainly in the southeast and west. The company has invested over $ 2 billion in 49 separate loans, 95% of which are senior mortgage loans. In late October, the company released earnings for the third quarter of 20 (the most recent reporting quarter) with total revenue of $ 22.4 million, up 13% year over year. Earnings per common share of 45 cents increased by 40% compared to the previous year. In addition, Ares entered into a secured commercial real estate loan commitment of $ 667 million with increased funding of 23 senior loans. On the dividend front, Ares announced its dividend for Q420 in December. The payment of 33 cents per common share was paid on January 15th – and is fully covered by current income levels. At current rates, the dividend annualizes to $ 1.32 for an impressive 10.50% return. Among the cops is Hayes, who wrote, “We believe stocks of ACRE are unfairly discounted compared to other commercial mREITs due to strong Ares sponsorship, a very healthy balance sheet and limited exposure to at-risk assets.” In his opinion, the company is “well positioned to withstand the headwinds of COVID-19”. Consistent with these comments, Hayes is pricing ACRE as a buy and its target price of $ 13.50 implies an uptrend of 10% from current levels. (To see Hayes’ track record, click here.) Only one other analyst recently published an ACRE rating that also gave the stock a buy. This makes the analyst consensus here a moderate buy. The stock is priced at $ 12.28, and the average target price of $ 12.75 suggests modest growth of ~ 4%. (See ACRE stock analysis on TipRanks) KKR Real Estate Finance Trust (KREF) Next, we have KKR, which operates in the commercial real estate sector with nearly half of its holdings in the states of New York, Illinois, Pennsylvania, and Massachusetts. The company owns and finances commercial real estate. 83% of its activities take place in residential buildings and offices in sought-after urban locations. The quality of KKR is evident in the company’s quarterly results. The liquidity position was strong – KKR reported $ 20,700.6 million at the end of the third quarter, which was reported in the most recent quarter. The EPS of 56 cents increased sequentially by 7% and compared to the previous year by 36%. Further evidence of KKR’s solid position came in early January when it was revealed that seven new commercial loans totaling $ 565.4 million had been closed in the fourth quarter. This level of activity is a clear sign that KKR is recovering from the pandemic-induced economic slowdown. The solid foundation enabled the company to continue its four-year reliable dividend. The most recent December statement referred to a dividend of 43 percent per common share, which was paid in mid-January. That rate translates into an annual payment of $ 1.72 per common share and a robust return of 9.7%. Regarding KREF, Hayes is most impressed with the company’s return to proactive lending: “We view fourth quarter 20 issuance as in line with pre-pandemic production, and show a shift from ‘defense’ to” Insult ”as transactional activity has picked up and capital markets remain accommodative. We expect more capital to be deployed to support profitability and dividend coverage and could potentially justify a dividend increase if the macroeconomic outlook improves. To this end, Hayes is giving KREF a buy and setting a target price of $ 19.50, which indicates growth of ~ 6% from current levels. (To see Hayes’ track record, click here.) Wall Street has been silent about anything KREF-related, and the only other recent review recommends a buy as well. Overall, the stock has a consensus rating for moderate buy. The average target price is 19.26 and implies a modest uptrend of ~ 5%. (See KREF stock analysis on TipRanks) Starwood Property Trust (STWD) For the third stock on Hayes’ shortlist, we’re turning to Starwood, a commercial mortgage REIT with a diverse portfolio of first mortgage and $ 50 million mezzanine loans $ 500 million reach. The company operates in the US and Europe, has a market capitalization of $ 5.9 billion and offices in New York, London and San Francisco. Starwood’s high-end portfolio has delivered solid profits even during the 2020 “corona recession”. The company posted GAAP earnings of $ 152 million for the third quarter of 20, representing a profit of 8% consecutive and 6% annualized profit over the year. Against this background, we can determine the company’s dividend, which has been constant at 48 cents per share for over two years. The last declaration was made in December and the dividend was paid on January 15th. At the current rate, it is annualized to USD 1.92 and the return is 9.23%. We’re again looking at a stock that Hayes recommends buy. “We see STWD as one of the few“ blue chips ”in the commercial mREIT sector because of its size, liquidity, world-class management team, strong balance sheet and diversified investment platform that has consistently achieved higher returns than comparable companies. To that end, STWD is one of the few commercial MREITs that has not restructured its liabilities with expensive rescue capital or cut its dividend since the beginning of COVID-19, “said Hayes. Overall, there is little action on the way from STWD right now, with only one other analyst getting involved to assess the company’s prospects. An additional purchase rating means that STWD qualifies as a moderate purchase. However, the average target price of $ 21 suggests stocks will remain tied to the range for the foreseeable future. (See STWD stock analysis on TipRanks.) To find great ideas for trading dividend stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the analysts presented. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.

Blue Hat Interactive Leisure Expertise Declares $7.59 Million Registered Direct Providing

XIAMEN, CHINA, February 1, 2021 / PRNewswire / – Blue Hat interactive entertainment technology (NASDAQ: BHAT), a leading producer, developer and operator of interactive entertainment games, toys and educational materials for augmented reality in Chinaannounced today that it has entered into a securities purchase agreement with two institutional investors to buy and sell 7,160,000 shares of common stock at a price of $ 1.06 per share in a registered direct offering, resulting in gross proceeds of total $ 7,589,600before deduction of agent fees and other estimated bid costs. The Company has also agreed to issue unregistered warrants to investors to purchase up to 3,580,000 common shares in a concurrent private placement. The warrants have an exercise price of $ 1.33 per share, can be exercised immediately and expires three years after the date of issue.

FT Global Capital, Inc. is acting as the sole placement agent in this offering.

The Registered Direct Offering and Private Placement are expected to close on or around the close February 3, 2021subject to the usual closing conditions. Immediately after the completion of the offer and after the issue of the 7,160,000 ordinary shares under the registered direct offering takes effect, 46,973,660 ordinary shares are in circulation.

A shelf registration statement on Form F-3 (File Number 333-249056) in respect of the common stock to be issued in the direct registered offering was previously filed with the Securities and Exchange Commission (the “SEC”) on September 25, 2020 and declared effective by the SEC on October 6, 2020. Such shares are only offered by means of a prospectus. A prospectus supplement and the accompanying prospectus and description of the terms of the registered direct offering will be filed with the SEC and available on the SEC’s website at www.sec.gov.

The unregistered warrants described above were in a private placement pursuant to Section 4 (a) (2) of the Securities Act of 1933, as amended (the “Act”) and Regulation D promulgated therein, and together with the warrants were not registered under statute or applicable state securities laws. Accordingly, the warrants and underlying common stock may not be offered or sold The United States except under an effective registration statement or applicable exemption from the registration requirements of the Act and such applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor may any sale of these securities take place in any country in which such offer, solicitation or sale may be made prior to registration or qualification such jurisdiction would be unlawful under securities laws.

About Blue Hat

Blue Hat Interactive Entertainment Technology is a manufacturer, developer and operator of interactive AR entertainment games and toys in ChinaThese include interactive teaching materials, cell phone games, and toys with cell phone game functions. The company’s interactive entertainment platform creates unique user experiences by connecting physical objects to mobile devices. By integrating real objects and virtual landscapes, a rich visual and interactive environment is created for users. Blue Hat stands out for its own technology and aims to create an engaging, interactive and immersive community for its users. For more information, please visit the company’s Investor Relations website at https://ir.bluehatgroup.com. The company regularly posts important information on its website.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions about future events or future company performance. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date of publication. In evaluating such statements, prospective investors should carefully consider various risks and uncertainties identified in this press release and the points set out in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those expressed in the forward-looking statements.


Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
E-mail: [email protected]

Investor Relations:

The Equity Group Inc. In China
Adam Prior, Senior Vice President Lucy ma, Associate
(212) 836-9606 +86 10 5661 7012
[email protected] [email protected]

SOURCE Blue Hat Interactive Entertainment Technology