London Stock Exchange welcomes Flutter to trading
The London Stock Exchange today welcomes Flutter Entertainment plc, the leading international sports betting and gaming operator to its first day of trading under its new name on the London Stock Exchange plc’s main market for listed securities. It will now trade under the ticker “FLTR”.
Flutter Entertainment plc (‘the Group’) is the new name for Paddy Power Betfair plc, which was formed in 2016 from the merger of Paddy Power plc and Betfair Group plc. The Group has changed its name to reflect the increasing diversity of its brands, geographies and operations following the transformational merger of its US business with FanDuel in 2018 and the recent acquisition of Adjarabet in Georgia.
Flutter now houses six of the world’s leading sports betting and gaming brands; Paddy Power, Betfair and Adjarabet in Europe; Sportsbet in Australia; and FanDuel and TVG in the USA. Together, these brands provide over six million customers with a market-leading range of betting products across online and retail channels, with proprietary technology supporting sportsbooks, exchange, gaming, daily fantasy sports and advanced-deposit-wagering services, and the TVG television network in the US.
Flutter is a name from the Group’s archives, being a rival Exchange acquired by Betfair back in January 2002, although it won’t be revived as a consumer brand. Three of the original Flutter employees remain part of the business today and were present at the Markets Open ceremony this morning.
At its most recent Q1 2019 results in May the Group announced revenues up 17% to £478m with standout performances from the new FanDuel sports betting operations in New Jersey and the Sportsbet business in Australia
Peter Jackson, CEO Flutter Entertainment plc commented: “Flutter is a key participant in the global sports betting and gaming market, with a strong product and brand portfolio and over six million active customers. We think our new name better reflects the diversity of the group and supports our future growth strategy. We’d like to thank our shareholders for approving the change of name.“ The Group’s corporate website will now be available on www.flutter.com.
About Flutter Entertainment plc:
Flutter Entertainment plc (the “Group”) is a global sports-betting and gaming company reporting as four divisions:
UK & Ireland: includes Sky Betting and Gaming, Paddy Power, Betfair and Tombola brands offering a diverse range of sportsbook, exchange, gaming and bingo services across the UK and Ireland, along with over 600 Paddy Power betting shops in the UK and Ireland.
Australia: the Sportsbet brand offers online sport betting and is the Australian market leader.
International: includes PokerStars, Adjarabet, Betfair and Junglee operating in multiple jurisdictions around the world offering a diverse range of sportsbook, exchange and gaming services.
US: includes FanDuel, TVG, Stardust, FOX Bet and PokerStars brands, offering regulated real money and free-to-play sports betting, online gaming, daily fantasy sports and online racing wagering products to customers across various states in the US.