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As seen in many markets, especially in LatAm, local Peruvian brands and their cultural knowledge are facing competition from international operators that often bring bigger scale in terms of technology and capital.

For Ramiro Atucha, founder and CEO of Atucha Strategic Advisory, whether international operators can press home their scalable advantages will depend on how seriously they take localisation.

“When we talk about localisation, we’re not talking about the language or doing a game about Machu Picchu,” he tells iGB. “We’re talking about taking the effort to understand what the history of those players is, what they’re used to.

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Pietras was charged with dozens of unfair trade practices, larceny, and embezzlement counts. Prosecutors also accused him of violating health and zoning laws by living at his funeral home in Coventry.

Prosecutors said victims were discovered at each of Pietras’ funeral homes, including Coventry-Pietras and Angels Memorial funeral homes in Coventry, Tolland Memorial Funeral Home, and Burke-Fortin and Small & Pietras funeral homes in Vernon.

Many of the victims weren’t happy Pietras was offered a plea deal.

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Flutter has arguably the strongest online franchise of the four. Its share price fell from $282.33 on 18 September 2025, to $89.56 on 18 September this year, with a market valuation of $15.54 billion.

FanDuel remains the leading US sportsbook, while Flutter’s international businesses provide additional sources of growth. But that quality comes with high expectations.

Beynon describes Flutter as “the highest-quality online betting franchise globally”, with FanDuel’s leadership position providing “significant long-term value”. The problem is that the market is increasingly questioning how much future earnings growth can be generated from that position as the industry matures.