Benchmark notes that Flutter (FLUT) has significantly increased its global total addressable market, or TAM, expectations, particularly in the U.S., which the firm sees signaling a critical growth opportunity for data and content providers like Genius Sports (GENI) and Sportradar Group (SRAD). As the outlook for global sports betting accelerates, the firm sees “a compelling time to be a buyer of these companies,” arguing that the “picks and shovels approach that support online gaming operators is becoming even more attractive with this expanding market potential.” The firm maintains Buy ratings on both Genius and Sportradar.
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