Caesars Entertainment misses Q2 earnings expectations, shares edge lower
DUBLIN - Flutter Entertainment plc (NYSE:FLUT; LSE:FLTR) announced Wednesday the launch of an offering of additional senior secured notes due 2031 in U.S. dollar, euro, and British pound denominations through its subsidiary Flutter Treasury DAC.
The notes will constitute a further issuance of senior secured notes originally issued on June 4, 2025. The company also launched a process to raise incremental debt under its existing U.S. dollar-denominated term loan B facility on Monday.
Flutter intends to raise a total of $1.755 billion through these combined debt instruments. According to the company, proceeds will fund the purchase of the outstanding 5% minority interest in FanDuel and extend Flutter’s strategic partnership with Boyd Interactive Gaming Holdings, L.L.C.
The company plans to use cash on its balance sheet to cover costs and fees associated with these transactions. An application will be made for the notes to be admitted to trading on The International Stock Exchange.
The notes will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S of the U.S. Securities Act, according to the press release statement. The notes have not been and will not be registered under the Securities Act.
Flutter Entertainment operates a portfolio of online sports betting and iGaming brands including FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power (LON:FLTRF), and several others across global markets.
The offering is subject to market conditions, and there is no assurance it will be completed or on what terms it might be completed.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.