US Stock Movement: Flutter plunges on September 28 due to Brazilian gambling ban, business suspension, and profit pressure

Flutter September 28 Sharp Drop Analysis

Keywords: Brazil gambling ban, business suspension, profit pressure

1. On September 25, the Brazilian government issued a provisional administrative measure prohibiting online sports betting and gaming. Flutter has suspended local operations, and revenue is expected to decrease by up to $70 million, with adjusted EBITDA to decrease by approximately $20 million.

2. On September 21, an institution downgraded Flutter’s rating from “Buy” to “Neutral” and lowered the target price from $169 to $119, citing the company’s four consecutive performance guidance downgrades this year.

(Disclaimer: This content is generated by AI technology based on publicly available information and is for reference only. It does not constitute investment advice.)