Rumor that Flutter Entertainment could be interested in acquiring PENN's assets sparked a 5% rise in Flutter’s stock on Friday. cited sources
This comes on the heels of Donerail Group, an activist investor, saying in May that PENN should put itself on the open market as it could attract double its trading price in a sale.Flutter, a global sports betting and gaming company that also owns brands like Paddy Power, PokerStars, and Sportsbet, has undergone some power restructure at the top.were added this month. Is the well-funded company ready to take on a task as large as acquiring PENN, which operates more than 20 U.S.
The mobile sports betting operator has yet to cut deep into the market-share stranglehold of FanDuel and DraftKings, despite the brand upgrade from Barstool to ESPN.