Flutter Entertainment (LON:FLTRF) plc (NYSE:FLUT), a global sports betting, gaming, and entertainment provider with a market capitalization of $48.67 billion, disclosed on Tuesday a new block listing application for its ordinary shares.
The announcement, made in compliance with the United Kingdom (TADAWUL:4280) Financial Conduct Authority's Disclosure Guidance and Transparency Rules, was released through the Regulatory News Service in London. The company's stock has shown remarkable strength, delivering a 54% return year-to-date according to InvestingPro data.
The Ireland-based company, formerly known as Stars Group Inc. and Amaya Inc., stated that the application pertains to the listing of ordinary shares of nominal value €0.09 each. This move is a routine practice that enables companies to issue shares promptly without going through the process of filing a prospectus with regulatory authorities each time. With revenue growth of nearly 20% in the last twelve months and expectations of profitability this year, the company continues to demonstrate strong operational momentum.
Flutter Entertainment's headquarters are located at 300 Park Avenue South, New York, with the business operating under the standard industrial classification of computer programming, data processing, and other related services.
The company's filing with the Securities and Exchange Commission (SEC) on December 17, 2024, includes this block listing as part of its regulatory disclosures. The document is intended to keep investors informed about the company's equity programs and does not necessarily indicate an immediate issuance of shares.
The SEC filing also confirms the company's commitment to transparency and adherence to regulatory requirements across the jurisdictions it operates in. Flutter Entertainment's shares are traded on the New York Stock Exchange under the ticker symbol FLUT. The stock is currently trading near its 52-week high of $284.79, reflecting strong investor confidence. For deeper insights into Flutter Entertainment's valuation and growth prospects, including 15 additional ProTips and comprehensive financial analysis, visit InvestingPro.
In other recent news, Flutter Entertainment has been demonstrating impressive financial growth and strategic developments. The company's Q3 revenue saw a significant 27% year-over-year increase, reaching $3.25 billion, largely driven by a 51% surge in U.S. operations revenue. This performance led to an upward revision of its full-year 2024 guidance, now expecting a group revenue of $14.25-$14.55 billion and an adjusted EBITDA between $2.44-$2.62 billion. Flutter's adjusted earnings per share also surpassed the projected loss, coming in at $0.43.
In addition to these financial highlights, Flutter Entertainment has initiated a share repurchase program, involving the buyback of up to $350 million worth of its ordinary shares, as part of a larger $5 billion program managed by Goldman Sachs (NYSE:GS) & Co LLC. Furthermore, the company disclosed transactions in company securities by its managerial staff, in compliance with the United Kingdom Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
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