Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Buying Opportunity • Sep 21
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 9.9%. The fair value is estimated to be €207, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Meanwhile, the company became loss making. Duyuru • 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. Buying Opportunity • Sep 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.6%. The fair value is estimated to be €207, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Meanwhile, the company became loss making. Duyuru • 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 10
First half 2023 earnings: EPS and revenues exceed analyst expectations 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 exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 97%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Hospitality industry in Europe. 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 8% 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: Revenues exceed analysts expectations while EPS lags behind 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 exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Hospitality industry in Europe. 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. Buying Opportunity • Jan 05
Now 20% undervalued Over the last 90 days, the stock is up 15%. The fair value is estimated to be €168, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Meanwhile, the company became loss making. 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. Duyuru • 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 12
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 21%, compared to a 34% growth forecast for the industry in Ireland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 145 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. Buying Opportunity • Mar 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be UK£132, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 47% per annum over the last 3 years. The company became loss making over the last year. Reported Earnings • Mar 02
Full year 2021 earnings: EPS and revenues exceed analyst expectations 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%. Earnings per share (EPS) also surpassed analyst estimates by 675%. Over the next year, revenue is forecast to grow 17%, compared to a 46% growth forecast for the restaurants industry in Ireland. 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. Price Target Changed • Dec 09
Price target decreased to €221 Down from €239, the current price target is an average from 19 analysts. New target price is 71% above last closing price of €130. Stock is down 20% over the past year. The company is forecast to post a net loss per share of UK£0.34 compared to earnings per share of UK£0.29 last year. 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 100 percentage points per year, which is a significant difference in performance. Recent Insider Transactions Derivative • Jun 28
CEO & Director exercised options and sold €2.3m worth of stock On the 24th of June, Jeremy Jackson exercised options to acquire 15k shares at no cost and sold these for an average price of €151 per share. This trade did not impact their existing holding. For the year to December 2020, Jeremy's total compensation was 11% salary and 89% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2020, Jeremy has owned 7.56k shares directly. This was the only transaction from an insider over the last 12 months. Major Estimate Revision • May 01
Consensus EPS estimates increase to UK£0.36 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from UK£5.46b to UK£5.56b. EPS estimate increased from UK£0.18 to UK£0.36 per share. Net income forecast to grow 16% next year vs 49% growth forecast for Hospitality industry in Ireland. Consensus price target of €172 unchanged from last update. Share price fell 3.2% to €170 over the past week. 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. Major Estimate Revision • Mar 24
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from UK£0.065 to UK£0.18. Revenue forecast steady at UK£5.38b. Net income forecast to grow 4.7% next year vs 43% growth forecast for Hospitality industry in Ireland. Consensus price target of €195 unchanged from last update. Share price was steady at €193 over the past week. Is New 90 Day High Low • Mar 11
New 90-day high: €184 The company is up 14% from its price of €162 on 11 December 2020. The Irish market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Hospitality industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €149 per share. Major Estimate Revision • Mar 10
Analysts update estimates The 2021 consensus revenue estimate increased from UK£5.03b to UK£5.27b. Earnings per share (EPS) estimate was lowered from UK£1.66 to UK£0.50 for the same period. Net income is expected to grow by 131% next year compared to 43% growth forecast for the Hospitality industry in Ireland. The consensus price target of €166 was unchanged from the last update. Share price is up 6.8% to €174 over the past week. Reported Earnings • Mar 04
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 25% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Mar 04
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 57%. Over the next year, revenue is forecast to grow 15%, compared to a 28% growth forecast for the Hospitality industry in Ireland. Is New 90 Day High Low • Jan 06
New 90-day high: €177 The company is up 26% from its price of €140 on 08 October 2020. The Irish 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 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €123 per share. Is New 90 Day High Low • Dec 15
New 90-day high: €166 The company is up 23% from its price of €135 on 15 September 2020. The Irish market is up 14% 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 €122 per share. Is New 90 Day High Low • Nov 26
New 90-day high: €156 The company is up 13% from its price of €139 on 28 August 2020. The Irish market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Hospitality industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €92.54 per share.