Expansión de las apuestas en EE. UU.: movimiento y polémica de Flutter

Lea Hogg January 29, 2024

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Expansión de las apuestas en EE. UU.: movimiento y polémica de Flutter

Flutter Entertainment, empresa matriz de FanDuel, debutará en la Bolsa de Nueva York (NYSE). Esto marca un logro importante en su estrategia por expandirse.

El movimiento surge ahora que la empresa busca capitalizar la expansión del mercado de apuestas deportivas en línea en Estados Unidos.

Previsión de valores bursátiles: impacto de la doble cotización de Flutter en la NYSE

La salida de Flutter a la Bolsa de Nueva York bajo el ticker FLUT supone un paso importante en su estrategia de expansión en EE. UU. Asimismo, comparte directamente espacio con gigantes del sector como DraftKings, ESPN Bet, MGM Resorts International y Caesars Entertainment. El consejero delegado de Flutter, Peter Jackson, se mostró entusiasmado con la salida a bolsa, ya que espera que mejore el acceso a los mercados de capitales y haga que la empresa resulte más atractiva para los inversores estadounidenses.

Aunque DraftKings puede parecer vulnerable en un principio a la cotización de Flutter, los analistas, entre ellos Jordan Bender, de Citizens JMP Securities, y Jeffrey Stantial, analista de Stifel, creen que el riesgo de que los inversores cambien de DraftKings a Flutter únicamente por la salida a bolsa es mínimo. Bender recalcó la eficiencia de los mercados y la negociación basada en valoraciones, mientras que Stantial se?aló que los inversores podrían optar por Flutter si buscan exposición a un negocio más internacional, dado el enfoque centrado en EE. UU. de DraftKings.

A pesar del reciente éxito de DraftKings, con un aumento del 157% en los últimos 12 meses y un incremento de jugadores únicos mensuales, la cotización de Flutter no supone una amenaza inminente. Los inversores esperan detalles sobre un posible acuerdo de marketing con Barstool Sports y la respuesta de la empresa a la cotización de Flutter cuando DraftKings presente sus resultados financieros del cuarto trimestre el 15 de febrero. En general, el consenso es que la cotización de Flutter no se traduce necesariamente en una pérdida para DraftKings en la lucha por la cuota de mercado.

Auge de las apuestas deportivas en Estados Unidos y desafíos regulatorios

El Tribunal Supremo de EE. UU. anuló en 2018 una ley que prohibía las apuestas deportivas en la mayor parte del país. La decisión abrió un nuevo mercado para empresas como Flutter, que vio cómo sus ventas en EE. UU. se disparaban de 191 millones de libras (243 millones de dólares) en 2018 a 3,6 mil millones (4,590 mil millones) el a?o pasado. FanDuel y la competencia, DraftKings y BetMGM, siguen a la cabeza del mercado emergente.

Flutter, que cotizaba en la bolsa de Londres y tenía la sede en Dublín, ha decidido dejar de cotizar en Dublín y hacerlo en la bolsa de Nueva York. El movimiento estratégico pretende mejorar su visibilidad y su acceso al capital en el mercado estadounidense.

Antes del cambio, Flutter presentó unas perspectivas de crecimiento optimistas para el futuro en un documento regulatorio. Sin embargo, también reconoció posibles retos, en particular en torno a la ludopatía. La empresa reconoció que estas cuestiones podrían influir significativamente en la futura regulación del sector, desencadenar investigaciones y disuadir a posibles apostantes.

Estados establecidos en 2024

Liberalizar las apuestas deportivas en Estados Unidos tuvo un impacto transformador en Flutter. Tanto es así que su CEO, Peter Jackson, ha considerado designar el 18 de mayo, día de la decisión del Tribunal Supremo, como día festivo de la empresa. Poco después de la sentencia de 2018, Flutter adquirió una participación mayoritaria en FanDuel.

Hace cinco a?os, el mercado estadounidense representaba alrededor del 10% del negocio del grupo (entonces conocido como Paddy Power Betfair). El a?o pasado, la cifra había aumentado hasta casi el 40%. Aunque las apuestas deportivas ya son legales en 36 estados y en Washington DC, varios estados, entre ellos Texas, aún tienen que legalizarlas. Sin embargo, Flutter confía en que sigan su ejemplo.

ArizonaArkansasColoradoConnecticut
DelawareIllinoisIndianaIowa
KansasKentuckyLuisianaMaine
MarylandMassachusettsMichiganMisisipi
MontanaNevadaNuevo HampshireNueva Jersey
Nuevo MéxicoNueva YorkCarolina del NorteOhio
OregónPensilvaniaRhode IslandDakota del Sur
TennesseeVirginiaWashington DCWashington
Virginia OccidentalWisconsinWyoming
Fuente: SiGMA

Detalles clave:

  • Carolina del Norte ha limitado las apuestas deportivas disponibles a través de casinos tribales.
  • En Nuevo México y Wisconsin, algunas tribus ofrecen apuestas deportivas en virtud de acuerdos de juego de Clase III.
  • Misisipi permite las apuestas deportivas a través de aplicaciones, pero las limita a las operaciones in situ en casinos autorizados.
  • El camino a legalizar las apuestas deportivas en Florida está paralizado por una disputa legal que abarca tribunales estatales y federales.

Potencial para un mercado masivo

Wall Street comparte su postura optimista. Joe Stauff, analista de Susquehanna, una firma de trading, describió las apuestas en línea como una “industria hipercreciente” en EE. UU. y destacó la ventaja competitiva importante de FanDuel. Mike Hickey, de Benchmark, un banco de inversión, coincidió: “Esto acaba de empezar… EE. UU. va a ser un mercado masivo”.

A pesar de que el sector afirma estar muy regulado, Flutter se?aló en la presentación que las “preocupaciones en materia de responsabilidad social” podrían influir significativamente en la regulación de las apuestas en línea y el iGaming. Dichas preocupaciones podrían repercutir en los requisitos de juego responsable, dar lugar a investigaciones y litigios y afectar negativamente a la reputación de la empresa.

Aunque la cotización de Flutter en la bolsa de Nueva York supone un paso importante en su estrategia de expandirse en EE. UU., la empresa se ha topado con polémicas. La decisión de dejar de cotizar en la bolsa de Dublín ha levantado ampollas en algunos sectores. El movimiento, aunque estratégico desde el punto de vista empresarial, supone un cambio de orientación de la empresa hacia el mercado lucrativo estadounidense, dejando atrás sus raíces irlandesas. Mientras Flutter sigue navegando por el panorama en evolución de las apuestas deportivas en línea, será interesante ver cómo evoluciona la decisión a largo plazo.

Temas relacionados:

Importante: el SiGMA Eurasia será en Dubai del 25 al 27 de febrero

Flutter Entertainment deja Dublín por la Bolsa de Nueva York

Informe financiero del 4T de 2023 de Flutter Entertainment

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