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Flutter Entertainment plc (NYSE:FLUT), a leader in computer programming and data processing services, has filed a regulatory announcement today, concerning the block listing of its ordinary shares. The disclosure was made to comply with the United Kingdom (TADAWUL:4280) Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, according to an 8-K filing with the U.S. Securities and Exchange Commission.
The announcement, made via the Regulatory News Service in London, pertains to a block listing application for the company’s ordinary shares. Block listings are a common practice used by companies to facilitate the issuance of shares over a period of time without the need for repeated individual approvals. The company has demonstrated strong performance, with revenue growth of 19.15% over the last twelve months.According to InvestingPro analysis, Flutter Entertainment is currently trading at high valuation multiples, suggesting investors are pricing in significant growth expectations.
Flutter Entertainment, previously known as Stars Group Inc. and Amaya Inc., has its principal executive offices located at 300 Park Avenue, New York. The company’s ordinary shares, with a nominal value of €0.09 per share, are traded on the New York Stock Exchange under the ticker symbol FLUT. The company’s next earnings report is scheduled for May 20, 2025, with analysts maintaining a bullish outlook.
The 8-K filing also confirms Flutter Entertainment’s commitment to transparency in its financial reporting and adherence to regulatory requirements in both the United States and the United Kingdom. The company has not provided further details on the specifics of the block listing application at this time.
The information in this article is based on a press release statement and is intended to keep investors informed about significant corporate developments. As with all corporate announcements, shareholders and potential investors are encouraged to review the official documents filed with regulatory authorities for a complete understanding of the matter.
In other recent news, Flutter Entertainment has reported a 19% increase in revenue and a 26% rise in adjusted earnings before interest, taxes, depreciation, and amortization (AEBITDA) for the year 2024, driven by its expanding U.S. operations. This robust performance has led Benchmark analysts to raise their price target to $300 while maintaining a Buy rating. Additionally, Flutter Entertainment announced a share repurchase program, indicating confidence in its financial stability and future prospects. UBS has reaffirmed a Buy rating with a $340 price target, citing expectations for improved net win margins and iGaming growth. Stifel also maintained a Buy rating with a $320 price target, aligning with the company’s fiscal year 2025 guidance.
Citizens JMP raised its price target to $328, highlighting Flutter’s revenue surpassing consensus expectations despite challenges. The company has expanded its market share in iGaming and sports betting, with strategic acquisitions in Brazil and Italy set to boost its international segment. These developments follow Flutter Entertainment’s fourth-quarter results, which hinted at potential inclusion in the S&P 500 index. The company’s strategic growth and market share momentum continue to be key factors in analyst assessments.
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