FanDuel CEO says the company will keep fighting for sports betting in California


Scott Olson

FanDuel CEO Amy Howe shared some of the same thoughts as DraftKings (DKNG) CEO Jason Robins during her presentation at Global Gaming Expo.

Howe warned that it will be very difficult for the sports betting measure in California to pass in November, but she claimed the company will live to fight another day.

“It’s hard to imagine (sportsbook) not including the state of California. It has always been the intention of our industry to find a solution that aligns the stakeholders – the tribes, the circuits, the government and ultimately the consumers.”

Important. Howe believes there is a way to get sports betting sanctioned in 2024 if the 2022 vote fails.

What to Watch: Investors in DraftKings (DKNG) and FanDuel parent company Flutter Entertainment (OTCPK:PDYPY) have seen sharp price declines, but analysts are still optimistic that the long-term bull thesis is still in play. A recent survey by Jefferies, which focused on younger age groups, showed strong interest in mobile sports betting. The survey validated the company’s assumptions for a long-term addressable market totaling $38 billion for sports and digital betting, as well as profitability and revenue prospects for top gamblers.

DraftKings (DKNG) shares rose 1.25% in premarket trading on Wednesday. Flutter Entertainment (OTCPK:PDYPY) was on top 0.25% in London.


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