Announcement • Sep 13
Flutter Entertainment plc (NYSE:FLUT) agreed to acquire 56% stake in NSX Group for BRL 2.0 billion. Flutter Entertainment plc (NYSE:FLUT) agreed to acquire 56% stake in NSX Group for BRL 2.0 billion on September 13, 2024. A cash consideration of BRL 1.98 billion will be paid by Flutter Entertainment plc. As part of consideration, BRL 1.98 billion is paid towards common equity of NSX Group. Under the transaction agreement, on completion, Flutter will contribute its existing Betfair Brazil business, in return for a 56% stake in the newly combined Flutter Brazil business. In addition, a mechanism has been put in place to enable Flutter to increase its shareholding through reciprocal put/call arrangements in year five and year ten following the completion date. Completion of the transaction is subject to customary regulatory clearances and is expected to close by second quarter of 2025. Announcement • Jul 01
Flutter Entertainment plc Announces Appointment of Non-Executive Directors, Effective as of July 30, 2024 Flutter Entertainment plc announced that the Board of Directors has appointed Robert R. Bennett and Christine M. McCarthy to the Board as non-executive directors, effective as of July 30, 2024. Mr. Bennett will be appointed as a member of the Risk and Sustainability Committee of the Board and Ms. McCarthy will be appointed as a member of the Audit Committee of the Board at such time. The Board has determined that both Mr. Bennett and Ms. McCarthy are independent directors in accordance with the New York Stock Exchange listing standards. Mr. Bennett, 66, is the Managing Director of Hilltop Investments, LLC, a private investment company, a position he has held since 2005. Previously, Mr. Bennett served as President of Discovery Holding Company, a media and entertainment company. Before that, Mr. Bennett served as President and Chief Executive Officer and Principal Financial Officer, at Liberty Media Corporation, a media, entertainment and online commerce company. Prior to his tenure at Liberty Media, Mr. Bennett worked at Tele-Communications Inc. and The Bank of New York. Mr. Bennett currently serves as a director of HP Inc. and Liberty Media. Previously, he has served as a director of Warner Bros. Discovery Inc., Sprint Corporation, Demand Media Inc., Discovery Holding Company, Liberty Interactive Corporation and Sprint Nextel Corporation. Ms. McCarthy, 69, was formerly the Senior Executive Vice President and Chief Financial Officer of The Walt Disney Company from 2015 until June 2023. She most recently served as a Strategic Advisor of Disney from July 2023 until June 2024. Prior to her appointment as Chief Financial Officer, she held positions of increasing responsibility at Disney, serving as Executive Vice President, Corporate Real Estate, Alliances and Treasurer from 2005 to 2015, after joining Disney as Senior Vice President and Treasurer in January 2000. Ms. McCarthy previously served as Executive Vice President and Chief Financial Officer of Imperial Bancorp from 1997 to December 1999. Ms. McCarthy currently serves as a director of The Procter & Gamble Company and is the Chair of its Audit Committee and is a director of FM Global and the Chair of its Finance Committee. She is also on the board of civic and educational organizations, the Board of Trustees of the Westridge School in Pasadena, and the Board of Trustees of the Carnegie Institution for Science having previously been on the Board of the Los Angeles Philharmonic Association, UCLA Anderson School of Management, Smith College, and Phoenix Houses of California Inc. Announcement • May 02
Flutter Entertainment plc Announces Board and Committee Changes Flutter Entertainment plc announced Nancy Cruickshank has replaced David Lazzarato as Chair of the Risk and Sustainability Committee; Nancy Cruickshank has replaced David Lazzarato as a member of the Audit Committee; Nancy Cruickshank has stepped down as a member of the Compensation and Human Resources Committee and is replaced by Nancy Dubuc; Nancy Dubuc has been appointed as a member of the Risk and Sustainability Committee; and Nancy Dubuc has stepped down from the Nominating and Corporate Governance Committee. In addition to the above changes, with effect from the conclusion of the Annual General Meeting held this morning, Nancy Dubuc has stepped down as a member of the Audit Committee. Announcement • Mar 28
Flutter Entertainment plc Provides Earnings Guidance for the Year 2024 Flutter Entertainment plc provided earnings guidance for the year 2024. For the full year 2024 introduced with implied Group revenue growth of 17.5%. US revenue $5.8 billion to $6.2 billion, +36.3% year on year at midpoint. Group ex US revenue $7.65 billion to $8.05 billion, +6.3% year on year at midpoint. Announcement • Mar 01
Flutter Entertainment plc Announces Board and Committee Changes, Effective 1 May 2024 Flutter announced that David Lazzarato, has decided not to seek re-election at the Annual General Meeting to be held on 1 May 2024 and will, therefore, step down from the Board at the conclusion of that meeting. With effect from the conclusion of the Annual General Meeting on 1 May 2024: Nancy Cruickshank will replace David Lazzarato as Chair of the Risk and Sustainability Committee;Nancy Cruickshank will replace David Lazzarato as a member of the Audit Committee; Nancy Cruickshank will step down as a member of the Compensation and Human Resources Committee and will be replaced by Nancy Dubuc; Nancy Dubuc to be appointed as a member of the Risk and Sustainability Committee; and Nancy Dubuc will step down from the Nominating and Corporate Governance Committee. Announcement • Jan 31
Flutter Entertainment plc Ordinary Shares Deleted from OTC Equity Flutter Entertainment plc Ordinary Shares has been deleted from OTC Equity effective January 29, 2024, due to Market Center Change Listed on NYSE. Announcement • Jan 16
Flutter to Delist from Dublin on January 23, 2024 Paddy Power owner Flutter Entertainment plc has filed its formal registration statement with the Securities and Exchange Commission in the US in advance of its shares listing in New York on January 29, 2024. The group's share listing in the US is designed to give it exposure to investors there, including its own customers. Its shares will delist from Dublin on January 23, 2024. "The US market is expected to continue to experience significant growth as additional US states are expected to legalise sports betting and iGaming, while outside of the US, the market is already worth £263bn ((EURO)305bn) and also continues to grow," the Flutter registration statement notes. "With just 30pc of this combined market opportunity currently taking place online, we believe that there is a long runway for future growth." Flutter's US business, FanDuel, has secured leading positions in most of the states in which it operates. Flutter will deliver a trading update later this week. The group, whose chief executive is Peter Jackson, has told potential investors in the US that it will continue to "invest to win" in the country. "We believe that we will be able to continue to deliver leadership in the US market through the 'FanDuel Advantage', where we believe that FanDuel is able to acquire players efficiently, retain players for longer and earn higher average revenue per player," it said in its registration statement. The company added that it hopes to pay dividends or other returns to shareholders in future as it deleverages its debt position. "We expect that the group's projected cash generation will permit us to deliver and provide significant future balance sheet capacity," it notes in its registration statement. "Although we do not currently have any specific plans to pay dividends or engage in significant share repurchases, once we have optimised our leverage, we intend to return to shareholders capital that cannot be effectively deployed through organic investment or value creative M&A." Flutter's primary share listing is currently in London. But it has said it will look at the potential of later moving its primary listing from London to the US. However, its shares will continue to be traded in London following the debut on the US market. Announcement • Jan 12
Flutter Entertainment plc, Annual General Meeting, May 01, 2024 Flutter Entertainment plc, Annual General Meeting, May 01, 2024. Agenda: To consider board changes. Announcement • Jan 11
Flutter Entertainment plc Announces Resignation of Richard Flint from Board of Directors Flutter Entertainment plc announced that Mr. Richard Flint has decided not to seek re-election to the Flutter Board of Directors at the Annual General Meeting to be held on 1 May 2024 and will, therefore, step down from the Board at the conclusion of that meeting. Mr. Flint joined the Board in March 2020 following the merger of Flutter Entertainment plc and The Stars Group Inc. . Richard formerly served as Executive Chair of Sky Betting & Gaming, until October 2019, having previously held the position of Chief Executive Officer for 10 years until the company was acquired by TSG in 2018. Announcement • Nov 12
Flutter Entertainment to Delist from Euronext Dublin Flutter Entertainment plc said said it expects to list on the New York Stock Exchange in the first quarter of 2024, having submitted its application for the additional listing with the US Securities and Exchange Commission (SEC). It will delist from Euronext Dublin simultaneously or shortly before. Board Change • Nov 08
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Chairman John Bryant was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 29
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Chairman John Bryant was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 28
Flutter Entertainment plc (LSE:FLTR) agreed to acquire 51% stake in Max Bet d.o.o. Novi Sad for approximately €140 million. Flutter Entertainment plc (LSE:FLTR) agreed to acquire 51% stake in Max Bet d.o.o. Novi Sad for approximately €140 million on September 27, 2023. Flutter also has the opportunity to acquire the remaining 49% in 2029. Max Bet has reported revenue of €145 million and adjusted EBITDA of €32 million during LTM to June 2023. The transaction is subject to customary regulatory clearances and is expected to close in Q1 2024. Luka Lopicic, Marija Vlajkovic and Jelena Arsic of Moravcevic Vojnovic and Partners in cooperation with Schoenherr advised shareholders of Maxbet. Oakvale Capital LLP acted as the financial advisor to the sellers. Announcement • Sep 09
Flutter Entertainment plc Announces Board Changes Flutter Entertainment plc announced that Mary Turner will step down from her roles as Non-Executive Director and all Committee appointments with effect from 30 September 2023. Nancy Cruickshank will assume the role of Chair of the Workforce Engagement Committee with effect from 1 October 2023. Announcement • Sep 02
Flutter Entertainment plc Announces Board Changes Flutter Entertainment plc confirm that, as announced on 27 April 2023, John Bryant has been appointed as Chair of the Flutter Board and Chair of the Nomination Committee effective on 1 September 2023, succeeding Gary McGann who stepped down from the Board on 31 August 2023. Reported Earnings • Aug 14
First half 2023 earnings released: EPS: UK£0.74 (vs UK£0.65 loss in 1H 2022) First half 2023 results: EPS: UK£0.74 (up from UK£0.65 loss in 1H 2022). Revenue: UK£4.81b (up 42% from 1H 2022). Net income: UK£131.0m (up UK£245.3m from 1H 2022). Profit margin: 2.7% (up from net loss in 1H 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Recent Insider Transactions • Mar 12
Senior Independent Director recently bought €159k worth of stock On the 7th of March, Holly Koeppel bought around 1k shares on-market at roughly €159 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €111k more in shares than they bought in the last 12 months. Reported Earnings • Mar 03
Full year 2022 earnings released: UK£1.71 loss per share (vs UK£2.37 loss in FY 2021) Full year 2022 results: UK£1.71 loss per share (improved from UK£2.37 loss in FY 2021). Revenue: UK£7.69b (up 28% from FY 2021). Net loss: UK£302.0m (loss narrowed 27% from FY 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 123 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Nov 25
CFO & Executive Director recently sold €228k worth of stock On the 22nd of November, Jonathan Hill sold around 2k shares on-market at roughly €132 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jonathan's only on-market trade for the last 12 months. Announcement • Nov 23
Flutter Entertainment plc to Report Q1, 2023 Results on May 03, 2023 Flutter Entertainment plc announced that they will report Q1, 2023 results on May 03, 2023 Reported Earnings • Aug 13
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up UK£88.6m from 1H 2021). Profit margin: (up from net loss in 1H 2021). Over the next year, revenue is forecast to grow 22%, compared to a 28% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 140 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Mar 08
Senior Independent Director recently bought €354k worth of stock On the 3rd of March, Andrew Higginson bought around 3k shares on-market at roughly €106 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €592k more in shares than they have sold in the last 12 months. Reported Earnings • Mar 02
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: UK£2.37 loss per share (down from UK£0.29 profit in FY 2020). Revenue: UK£6.04b (up 37% from FY 2020). Net loss: UK£415.8m (down UK£453.7m from profit in FY 2020). Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 17%, compared to a 39% growth forecast for the restaurants industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 126 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 12
First half 2021 earnings released: UK£0.50 loss per share (vs UK£0.18 profit in 1H 2020) The company reported a mediocre first half result with weaker earnings and weaker control over costs, although revenues improved. First half 2021 results: Revenue: UK£3.05b (up 99% from 1H 2020). Net loss: UK£88.6m (down UK£107.1m from profit in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Executive Departure • May 01
Non-Executive Deputy Chairman Divyesh Gadhia has left the company On the 29th of April, Divyesh Gadhia's tenure as Non-Executive Deputy Chairman ended after less than a year in the role. As of December 2020, Divyesh personally held 50.55k shares (€8.4m worth at the time). A total of 6 executives have left over the last 12 months. Executive Departure • May 01
Independent Non-Executive Director has left the company On the 29th of April, Peter Rigby's tenure as Independent Non-Executive Director ended after 5.2 years in the role. As of December 2020, Peter personally held only 128.00 shares (€21k worth at the time). A total of 6 executives have left over the last 12 months. Reported Earnings • Mar 03
Full year 2020 earnings released: EPS UK£0.29 (vs UK£1.80 in FY 2019) The company reported a decent full year result with improved revenues, although earnings and profit margins were weaker. Full year 2020 results: Revenue: UK£4.41b (up 106% from FY 2019). Net income: UK£37.9m (down 74% from FY 2019). Profit margin: 0.9% (down from 6.7% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 05
New 90-day high: €172 The company is up 24% from its price of €138 on 07 October 2020. The British market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €120 per share. Announcement • Dec 19
The Kentucky Supreme Court Judgement Reinstates Award of Damages Against Certain Subsidiaries of The Stars Group Prior to Its Combination with the Flutter Group, Made in 2015 by Kentucky Trial Court Judge The Kentucky Supreme Court has ruled on legal proceedings that were originally brought by the Commonwealth of Kentucky in 2010 against certain subsidiaries of The Stars Group prior to its combination with the Flutter Group. The Kentucky Supreme Court judgement has reinstated an award of damages against TSG made in 2015 by a Kentucky trial court judge. That 2015 ruling had subsequently been vacated in its entirety by the Kentucky Court of Appeals in 2018. The outcome of today's Kentucky Supreme Court ruling is that the $870 million judgement against TSG has been reinstated with compounding interest of 12% per annum. As previously disclosed, the gross gaming revenues that TSG generated in Kentucky during the relevant period were approximately $18 million. There are a number of legal processes available to Flutter and having taken legal advice, Flutter is confident that any amount it ultimately becomes liable to pay will be a limited proportion of the reinstated judgement. Flutter is wholly surprised by ruling and strongly disputes the basis of this judgement which, it believes, runs contrary to the modern US legal precedent. This litigation had sought recovery of alleged losses by Kentucky residents during a period between 2006 and 2011 relying on a centuries-old statute. Together with its legal advisors Flutter is currently reviewing its position. No liability was previously recognised by either TSG or Flutter in relation to this. Flutter's balance sheet remains robust. Announcement • Dec 06
Flutter Entertainment plc has completed a Follow-on Equity Offering in the amount of £1.12063 billion. Flutter Entertainment plc has completed a Follow-on Equity Offering in the amount of £1.12063 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 8,004,503
Price\Range: £140
Transaction Features: Regulation S; Rule 144A; Subsequent Direct Listing Announcement • Dec 05
Flutter Entertainment plc (ISE:FLTR) entered into an agreement to acquire the entire 37.2% stake in FanDuel Group Parent LLC from Fastball Holdings LLC for $4.2 billion. Flutter Entertainment plc (ISE:FLTR) entered into an agreement to acquire the entire 37.2% stake in FanDuel Group Parent LLC from Fastball Holdings LLC for $4.2 billion on December 3, 2020. This transaction is taking Flutter’s stake in FanDuel from 57.8% to 95% and the balance of 5% will continue to be held by Boyd Interactive Gaming LLC. Fastball will also waive its right to receive a payment for the increase in FOX Bet’s market value. Consideration for the Transaction is expected to be satisfied through a combination of $2.088 billion in cash and the issue of approximately 11.7 million new Flutter ordinary shares directly to Fastball. Flutter intends to fund the cash element of the purchase price through (i) cash on balance sheet, and (ii) an equity raise of approximately £1.1 billion ($1.47088 billion) through the placing of new ordinary shares. As of December 4, 2020, Flutter Entertainment has completed the placing to partly fund the acquisition.
The transaction is subject to receipt of Flutter's shareholder approval and the satisfaction or waiver (as applicable) of other conditions in the purchase agreement. The purchase agreement imposes certain “lock-up” restrictions on Fastball’s ability to distribute or transfer any consideration shares it may receive in connection with the transaction. An extraordinary general meeting is expected to take place prior to the end of December 2020. The Transaction is expected to be completed prior to the end of December 2020. John Lydon, Brian Garrahy and Ronan Veale of Davy Corporate Finance Limited and Anthony Gutmans, Charlie Lytles, Nick Harper and Jimmy Bastock of Goldman Sachs International acted as financial advisors for Flutter. Moelis & Company LLC acted as exclusive financial advisor to Fastball Holdings LLC. Todd Cleary, Ethan Lutske, Sriram Krishnamurthy, Jonathan Zhu, and Derek Wallace of Wilson Sonsini acted as legal advisors to Fastball Holdings. Is New 90 Day High Low • Dec 03
New 90-day high: €157 The company is up 25% from its price of €125 on 04 September 2020. The British market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €96.03 per share. Announcement • Sep 24
Z Capital Reportedly to Explore Sale of Sports Information Group Z Capital Group, L.L.C. is exploring strategic alternatives including a sale of Sports Information Group LLC, according to people with knowledge of the matter and a document sent to prospective buyers reviewed by Bloomberg. Potential buyers include Penn National Gaming, Inc. (NasdaqGS:PENN), DraftKings Inc. (NasdaqGS:DKNG) and Flutter Entertainment plc (ISE:FLTR), said one of the people, who requested anonymity because the information is private. The company could fetch more than $350 million, the person added. Sports Information Group is working with Macquarie Capital, the advisory arm of Macquarie Group Ltd., to solicit interest from potential suitors, the document shows. Representatives for Z Capital and Macquarie declined to comment. No plans are final and Z Capital could decide to keep the company.