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Flutter Entertainment shares plummeted after the company reported an earnings miss and disclosed another key leadership change.
FanDuel, Flutter's most important business, has been losing market share dominance in the United States, the company said. market FanDuel held the leading position in American online sports betting.
It has been losing that position, the company disclosed.
Flutter has characterized FanDuel as its most important business, and the erosion of that unit's market share in the United States shows up in the parent's reported numbers. The earnings miss reflects that pressure.
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