RE:Flutter Q4 2019 transcriptThe Flutter CEO is a very competent one in presenting and responding. He has the character for the position, and a depth of team next to him. With Rafi by his side on the COO position, this is going to be a killer company.
The good thing we see is that Stars also continues to make their operations more efficient in Dublin, as they will surely move to join the Flutter team once the integration is accepted by the CMA. We are within the month of the limit of complaints to investigate. CMA is usually quite efficient in rendering decisions or requiring changes for compliance, and Flutter and Stars have been to this rodeo before so they know how to accomplish it well. I still suspect a sale of retail as both a requirement for compliance and a neat way to pay down Stars debt very quickly. They have to be getting the cash beyond operations to keep the debt ratio and the dividend in line with expectations, and I believe selling the retail shops could be one remedy.
FanDuel is kiiling it by cross sell and customer acquisitions from DFS. FoxBet is just "in line" which means its having a hard time gaining more traction. I truly expect this stock to see traction in 2021 and 2022 as more and more states add sports betting, some add casino and poker, and this will start to force Florida, Cailifornia and New York to find solutions to the blockage as they start to realize that they are losing $$$ of big revenues to other states and illegal operators.