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NEW YORK - Flutter Entertainment plc (NYSE:FLUT; LSE:FLTR), a prominent player in the online sports betting and iGaming market, has initiated the third phase of its share repurchase program with plans to buy back up to $225 million worth of shares. The buyback is set to begin on July 1, 2025, and will be executed on the New York Stock Exchange, concluding by September 30, 2025.
This latest tranche is part of a broader, multi-year repurchase strategy announced on September 25, 2024, aiming to return approximately $1 billion to shareholders in 2025. Flutter has engaged Davy Securities Unlimited Company to manage the buyback process independently, within pre-established parameters.
The total number of shares Flutter can repurchase is capped at 17,739,905, adjusted for the shares already bought back during the first and second tranches of the program. The repurchased shares will subsequently be cancelled, thereby reducing Flutter’s share capital.
The buyback will adhere to regulatory guidelines, including Rule 10b5-1 and Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as well as the EU Market Abuse Regulation and Commission Delegated Regulation as they apply in the UK.
Flutter’s announcement also includes forward-looking statements regarding the share repurchase program’s potential effects and future plans. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual outcomes to differ materially.
Flutter Entertainment, known for brands such as FanDuel, PokerStars, and Betfair, is recognized as a leader in the global online betting and gaming industry. The company’s strategic moves, including this share buyback, are part of its long-term growth and sustainability vision.
The specifics of future buyback tranches will be determined by ongoing assessments of the company’s capital needs and market conditions. This information is based on a press release statement from Flutter Entertainment plc.
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