Flutter Entertainment kicks off $300 million share buyback

NEW YORK - Flutter Entertainment plc (NYSE:FLUT; LSE:FLTR), a prominent player in online sports betting and iGaming, has announced the initiation of a share buyback program set to commence on April 1, 2025, with a maximum expenditure of $300 million. This repurchase plan represents the second tranche of a broader multi-year buyback strategy, which aims to return approximately $1 billion to shareholders in 2025.

The buyback, which will take place on the New York Stock Exchange and conclude by June 30, 2025, is part of Flutter’s effort to reduce its share capital. Goldman Sachs & Co (NYSE:GS). LLC has been appointed to manage the buyback process, making trading decisions independently of Flutter within predetermined parameters.

Flutter’s repurchase program, which was initially announced on September 25, 2024, has an overall target of up to $5 billion. The number of shares to be repurchased in this tranche will be capped at 17,739,905, accounting for the shares already acquired in the first tranche that began on November 13, 2024.

The buyback will adhere to the regulations of Rule 10b5-1 and Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as well as the EU Market Abuse Regulation (596/2014) and Commission Delegated Regulation (EU) 2016/1052, which have been incorporated into UK law post-Brexit.

Flutter’s forward-looking statements regarding its repurchase program highlight the company’s expectations for future events, based on certain assumptions. These statements, which can be identified by terms like "expects," "may," and "will," are subject to risks and uncertainties that could cause actual outcomes to differ materially. Factors influencing these outcomes are detailed in the company’s filings with the SEC, including its Annual Report for the fiscal year ended December 31, 2024.

Flutter Entertainment, with a diverse portfolio of brands such as FanDuel, Sky Betting & Gaming, and PokerStars, continues to lead the industry with global revenues of $14,048 million for fiscal 2024, marking a 19% year-over-year increase. The company’s strategic approach focuses on leveraging its scale and innovative mindset to foster sustainable growth for all stakeholders.

This announcement, based on a press release statement, was arranged by Flutter’s Company Secretary, Edward Traynor.

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