World Cup Beneficiary? Sports Betting Leader Loses 1.4 Trillion Won in Market Cap in a Day

Shares of leading sports betting operator Flutter Entertainment PLC (NYSE: FLUT) tumbled 6.12% to close at $102.25 on June 16, with trading volume hitting about 1.06 million shares. The decline erased roughly $1.025 billion in market value (approximately KRW 1.4 trillion), bringing Flutter’s total market capitalization to around $17.8 billion (about KRW 25 trillion).

Recently, Wedbush named Flutter an “Outperform” pick ahead of the 2026 FIFA World Cup and the upcoming U.S. professional and college football seasons, setting a $138 price target, but the stock has shown increased short-term volatility. The company also announced plans to delist from the London Stock Exchange and streamline its listing solely on the NYSE, fully shifting its capital-market focus to the United States.

Headquartered in Ireland, Flutter Entertainment is a global online sports-betting and iGaming group whose brands include FanDuel, Paddy Power, Betfair and PokerStars. It ranks as the No. 1 U.S. online sports-betting operator. Despite reporting double-digit revenue growth in 2025, Flutter faces profitability pressures from high U.S. marketing expenses and regulatory costs, reflecting a “high-growth, low-margin” business profile.