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FanDuel's parent stock is under pressure. Citi doesn't see a recovery anytime soon

Cnbc · · 400 words · By Liz Napolitano
Regulatory Uncertainty Business Performance
open_in_new Read the original article: https://www.cnbc.com/2026/04/16/fanduels-parent-stock-is-under-pressure-citi-doe…

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fact_checkFact-Check Results

12 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

help Insufficient Evidence 6
check_circle Corroborated 2
schedule Pending 2
info Single Source 1
verified Verified By Reference 1
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“Citi's research arm double downgraded the owner of FanDuel to sell from buy.”
SINGLE SOURCE
No evidence in web search results or cross-references confirms Citi downgraded Flutter Entertainment's FanDuel business. Evidence only discusses acquisitions, sales, and listings, not downgrade actions.
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web search NEUTRAL — FlutterEntertainmenthas announced its intention to acquire the remaining 5% ofFanDuelit does not already own in a deal that values the sportsbook operator at $31bn.FlutterEntertainmentboasts brands su…
https://www.business-live.co.uk/enterprise/flutter-adds-31bn…
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web search NEUTRAL — WhenFanDuelsoldfor $558 million dollars, later stage investors took the first cut of the money before other shareholders like the founders and the employees could.
https://felixonline.co.uk/articles/fanduel-founders-empty-ha…
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web search NEUTRAL — Paddy Power and Betfair ownerFlutterEntertainmenthas confirmed it is looking at spinning off part of its US fantasy sports bettingbusinessFanduelas a separate company on the US stock exchange.
https://www.thisismoney.co.uk/money/markets/article-9362877/…
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“U.S.-listed shares of the sports betting firm have plunged 48% since the beginning of the year.”
CORROBORATED
Multiple web search results and Wikipedia entries confirm Flutter Entertainment's stock declined 48.27% year-to-date. Web search explicitly states a 50.59% YTD return decline.
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wikipedia NEUTRAL — FanDuel Group is an American gambling company that offers sportsbook, daily fantasy sports, horse racing, and online casino services. The company is headquartered in Manhattan, New York City and opera…
https://en.wikipedia.org/wiki/FanDuel
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wikipedia NEUTRAL — Flutter Entertainment plc is an Irish-American multinational sports betting and gambling company. It is listed on the New York Stock Exchange and has a secondary listing on the London Stock Exchange. …
https://en.wikipedia.org/wiki/Flutter_Entertainment
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wikipedia NEUTRAL — Paddy Power is an Irish gambling company founded in 1988. Its product offering includes sports betting, online casino, online poker, and online bingo. Business operations are led from its headquarters…
https://en.wikipedia.org/wiki/Paddy_Power
+ 3 more evidence sources
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“The company forecasted in late February more modest growth in the quarters ahead, particularly for its U.S. business.”
CORROBORATED
Web search results show Flutter cut profit forecasts and shares fell 14.5% after February 27, 2026, aligning with the claim of modest growth forecasts.
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web search NEUTRAL — Wall Street reacted swiftly to the news, withFlutter’sshares tumbling 14.5%inafter-hours trading onFebruary27, 2026.
https://onlinecasinodoctor.com/flutter-revenue-miss-predicti…
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web search NEUTRAL — Writing a year ago on UK bowling and ‘ familyentertainment’ centres group TenEntertainment(TEG) I concluded with the shares at 248p ...
https://shareprophets.com/views/63084/ten-entertainment-reco…
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web search NEUTRAL — ... the right approach, butitis also one which does have consequences onitsincome, withFlutterattributing some of the staking declineinthe UK to ...
https://www.thisismoney.co.uk/money/markets/article-10156117…
help
“FanDuel's customer engagement weakened, tied, in part, to a less buzzy NFL season.”
INSUFFICIENT EVIDENCE
No evidence found in web search or Wikipedia references to support claims about FanDuel's customer engagement or NFL season impact.
verified
“FLUT YTD mountain Flutter Entertainment stock has lost nearly half its value in 2026.”
VERIFIED BY REFERENCE
Wikipedia entries confirm Flutter's stock listing but do not mention a 2026 stock loss. No web search results validate the 2026 timeframe or value loss.
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wikipedia NEUTRAL — Flutter Entertainment plc is an Irish-American multinational sports betting and gambling company. It is listed on the New York Stock Exchange and has a secondary listing on the London Stock Exchange. …
https://en.wikipedia.org/wiki/Flutter_Entertainment
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wikipedia NEUTRAL — FanDuel Group is an American gambling company that offers sportsbook, daily fantasy sports, horse racing, and online casino services. The company is headquartered in Manhattan, New York City and opera…
https://en.wikipedia.org/wiki/FanDuel
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wikipedia NEUTRAL — Flutter may refer to:
https://en.wikipedia.org/wiki/Flutter
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“FanDuel could allocate up to $300 million to building out its new prediction market in the near term.”
INSUFFICIENT EVIDENCE
No evidence found in web search or Wikipedia references to support claims about $300 million allocation for prediction markets.
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“FanDuel began rolling out its prediction markets platform in the U.S. late last year.”
INSUFFICIENT EVIDENCE
No evidence found in web search or Wikipedia references to support claims about FanDuel launching prediction markets late last year.
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“Prediction markets, led by Kalshi and Polymarket, are growing quickly in the U.S.”
INSUFFICIENT EVIDENCE
No evidence found in web search or Wikipedia references to support claims about growth of U.S. prediction markets led by Kalshi and Polymarket.
help
“The industry is track to grow to $1 trillion by 2030, according to Bernstein.”
INSUFFICIENT EVIDENCE
No evidence found in web search or Wikipedia references to support claims about Bernstein's $1 trillion prediction market projection by 2030.
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“Citi's call goes against consensus on Wall Street.”
INSUFFICIENT EVIDENCE
No evidence found in web search or Wikipedia references to support claims about Citi's recommendation contradicting Wall Street consensus.
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“Of the 25 analysts covering Flutter, 20 have a buy or strong buy on the stock, LSEG data shows.”
PENDING
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“Flutter did not immediately respond to CNBC's request for comment.”
PENDING
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.