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Latest Pacer BlueStar Digital Entertainment ETF  News | NASDAQ:ODDS | Benzinga

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The Fund employs a passive management (or indexing) investment approach designed to track the total return performance, before fees and expenses, of the Index. The Index is a rules-based index that consists of globally-listed stocks and depositary receipts of digital entertainment companies, as described below. Companies eligible to be added to the Index are those that derive at least 50% of their revenues from the following activities: online gambling platforms or software related to online gambling; video game development and software related to the development of video games or hardware such as computer processors and graphics cards used in video gaming systems, controllers, headsets, and gaming consoles; and streaming services or video games and hardware for use in eSports events or that are involved in eSports events such as league operators, teams, distributors and platforms, (collectively, Digital Entertainment) as determined by MV Index Solutions (the Index Provider).

Flutter Entertainm

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DraftKings Inc

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Electronic Arts, Inc.

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Pacer BlueStar Digital Entertainment ETF

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DraftKings shares are rising, likely buoyed by peer Flutter Entertainment&#39;s positive 2027 guidance and overall market optimism in the iGaming sector.

Why Is DraftKings Stock Gaining Today?

DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) shares are rising, likely in sympathy with Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>), which saw a boost after issuing <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">positive guidance for 2027.</a>



As both companies operate in the online sports betting and iGaming sector, Flutter&#8217;s optimistic outlook appears to be creating a ripple effect, lifting DraftKings&#8217; share movement as investors react to the <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">overall market sentiment.</a>



Flutter targets revenue of around $21 billion in 2027, representing a compound annual growth rate (CAGR) of 14%, based on the midpoint of U.S. and Rest of World (ROW) 2027&nbsp;guidance.



Also, Flutter projects an adjusted EBITDA of over $5 billion, adjusted EBITDA&nbsp;margin expansion of 700 basis points, and free cash flow of around $2.5 billion by 2027.



Apart from this, Flutter approved a share buyback program of up to $5 billion, set to be implemented over the next three to four years, with a launch anticipated after the third-quarter earnings report in November 2024.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/41028246/flutter-bets-big-on-us-and-global-expansion-21b-revenue-goal-and-5b-buyback-in-sight" rel="noreferrer noopener">Flutter Bets Big On US And Global Expansion: $21B Revenue Goal And $5B Buyback In Sight</a>



The significant total addressable market (TAM) for regulated gaming is projected to reach $368 billion by 2030, with global gross gaming revenue (GGR) expected to grow at a compound annual growth rate (CAGR) of 8%.



According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, DKNG stock has gained over 52% in the past year. Investors can gain exposure to the stock via&nbsp;Roundhill Sports Betting &amp; iGaming ETF (BETZ) and&nbsp;Pacer BlueStar Digital Entertainment ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODDS#NASDAQ">ODDS</a>).



As the online sports betting market continues to evolve, DraftKings stands to benefit from Flutter&#8217;s optimistic projections and overall market growth, positioning both companies for potential success in the coming years.



DKNG, FLUT Price Actions: DraftKings shares are trading higher by 6.49% to $41.68. Flutter shares are trading higher by 6.53% at $243.07.



Photo via Shutterstock



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Latest Pacer BlueStar Digital Entertainment ETF News | NASDAQ:ODDS | Benzinga

Wednesday, September 25, 2024

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