The 10 Largest Gambling Stocks of 2024

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1. Flutter Entertainment plc (NYSE:FLUT)

Market Capitalization: $40.78 Billion

No. of Hedge Fund Investors: 53

Flutter Entertainment plc (NYSE:FLUT) is an online sports betting and iGaming operator with a major presence in the U.S., the U.K., and Australia. The company’s US division offers sports betting, casino, DFS, and horse racing wagering products, mainly online but also provides a small number of retail outlets across the U.S. In the U.K., the company offers sports betting, iGaming, and other products through its Sky Betting & Gaming, Paddy Power, Betfair, and Tombola brands. In Australia, Flutter Entertainment operates its online sports betting products through its Sportsbet brand. The company is mainly famous for its sports betting platform FanDuel, which separates it from its competitors.

The company mainly targets the online sports betting and gaming market, allowing it to penetrate more than 100 global markets. The company’s international division includes PokerStars, Betfair International, Adjarabet and Junglee Games. Flutter Entertainment plc (NYSE:FLUT) shared its 2027 guidance and expects to achieve revenue of $21 billion, growing at a three-year compound annual growth rate (CAGR) of 14%, leading to an Adjusted EBITDA of over $5 billion in 2027.

The company is the industry leader with a revenue of $11.79 billion in 2023, up by 25% year-over-year. Flutter Entertainment plc (NYSE:FLUT) increased its market share by 40% during Q2 in the U.S., while reaching over 14.3 million monthly active users, an increase of 17% from a year ago. With the continued growth momentum, the company’s objective is to invest in organic growth and engage in value-creative mergers and acquisitions. Furthermore, the company’s Board has authorized a share buyback program of up to $5 billion, expected to be completed over the next three to four years. The share buyback program is expected to kick off following its Q3 earnings in November 2024.

While we acknowledge the potential of FLUT, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FLUT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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