Street Calls of the Week
NEW YORK – Flutter Entertainment plc (NYSE:FLUT), a global leader in sports betting and gaming with a market capitalization of $36.66 billion, announced today that board member Atif Rafiq has decided not to stand for re-election at the upcoming Annual General Meeting scheduled for June 5, 2025. Rafiq’s departure from the board is due to other time commitments and is not the result of any disagreements with the company’s operations, policies, or practices. According to InvestingPro data, Flutter has demonstrated robust performance with revenue growth of 19.15% in the last twelve months.
Rafiq has been a part of the Flutter Entertainment board, contributing his expertise and guidance. The company expressed its gratitude for his dedicated service throughout his tenure. The announcement, made in a filing with the Securities and Exchange Commission, did not specify Rafiq’s future endeavors or potential successors for his position on the board. The company’s strong operational execution is reflected in its financial metrics, with InvestingPro analysis indicating expected net income growth this year.
Flutter Entertainment, with its headquarters in New York, operates under the jurisdiction of Ireland and has a diverse portfolio of leading brands across multiple international markets. The company is known for its presence in the computer programming, data processing, and related services industry under the SIC code 7370. With annual revenue of $14.05 billion and a healthy gross profit margin of 47.71%, Flutter maintains a strong market position. Investors can access detailed analysis and 12 additional ProTips through InvestingPro’s comprehensive research platform.
The news of Rafiq’s planned departure from the board comes as Flutter Entertainment continues to navigate the competitive and rapidly changing landscape of the global gaming and betting industry. The company has not indicated any immediate impact on its operations or strategic direction following Rafiq’s exit.
Investors and stakeholders will be watching for further announcements regarding board composition and any strategic shifts that may arise from this change in leadership. This development is based on the company’s latest SEC filing and reflects Flutter Entertainment’s commitment to transparency in its corporate governance practices.
In other recent news, Flutter Entertainment has been active with several key developments. The company filed a regulatory announcement concerning the block listing of its ordinary shares, a move that facilitates the issuance of shares over time without repeated approvals. This filing underscores Flutter’s commitment to transparency in financial reporting and adherence to regulatory requirements in both the United States and the United Kingdom (TADAWUL:4280). Additionally, UBS analyst Ben Shelley reaffirmed a Buy rating for Flutter Entertainment with a $340 price target, citing an evolving revenue composition with increased iGaming growth and a higher net win margin. Stifel analysts also maintained a Buy rating, setting a $320 price target, and noted that Flutter’s fiscal year 2025 guidance seems achievable despite potential tax concerns.
Meanwhile, Barclays (LON:BARC) observed market share shifts in the online sports betting and iGaming sectors, noting that FanDuel, a key player under Flutter, experienced gains in gross gaming revenue and net gaming revenue shares. The company’s recent disclosure of voting rights also highlights its commitment to corporate governance standards. These developments reflect Flutter Entertainment’s strategic maneuvers and market dynamics as it navigates the competitive landscape.
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