1225 ET - Flutter will see a significant hit to its bottom line from new U.K. gaming tax increases set to begin next year, says Benchmark analyst Mike Hickey, who cuts the stock's price target to $285 from $310. The company has said it could gain share from small operators struggling to absorb the tax impact and that it would reduce costs in order to help mitigate the tax hikes. But still, the taxes introduce meaningful pressure on its margins. "The new UK tax regime lowers Flutter's medium-term earnings power," Hickey says. Shares slip 0.4% to $208. (nicholas.miller@wsj.com)
(END) Dow Jones Newswires
December 01, 2025 12:25 ET (17:25 GMT)
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