Flutter Entertainment plc (NYSE:FLUT), a leader in computer programming and data processing services, has disclosed a regulatory filing for a block listing application for its ordinary shares. The announcement was made today to comply with the United Kingdom Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The company, formerly known as Stars Group Inc. and Amaya Inc., is headquartered in New York with its principal executive offices located at 290 Park Ave South. Flutter Entertainment has its ordinary shares traded on the New York Stock Exchange under the ticker symbol FLUT, with a nominal value of €0.09 per share.
This regulatory disclosure, which Flutter Entertainment released through the Regulatory News Service in London, aims to maintain transparency with its investors and adhere to regulatory requirements. The announcement is part of the company's ongoing communication with its shareholders and the investment community regarding its financial and operational developments.
The details of the block listing application were provided in an exhibit attached to the 8-K form, which is incorporated by reference into the filing. This exhibit contains the RNS Announcement dated today, October 3, 2024. As per standard corporate governance practices, the filing was signed by Edward Traynor, General Counsel and Company Secretary of Flutter Entertainment plc.
Investors and stakeholders can refer to the exhibit for further details on the block listing application. It's important to note that this article is based on a press release statement and aims to provide factual information without offering opinions or recommendations.
For additional information regarding Flutter Entertainment's filings and disclosures, interested parties may access documents filed with the United States Securities and Exchange Commission.
In other recent news, Flutter Entertainment announced an update on its total voting rights, a move that adheres to the United Kingdom Financial Conduct Authority’s Disclosure Guidance and Transparency Rules. The company also reported a 20% increase in Q2 revenue to $3,611 million and a 17% rise in adjusted EBITDA to £738 million. In addition, Flutter Entertainment confirmed its acquisition of Italian gaming operator Snaitech S.p.A. for approximately €2.3 billion ($2.53 billion), expected to finalize in Q2 2025.
In related news, several analyst firms have weighed in on Flutter Entertainment. Craig-Hallum maintained a Buy rating on shares of the company and increased the price target to $275. Oppenheimer also raised its price target for the company to $300. Benchmark reiterated its Buy rating for Flutter Entertainment, citing its strategic vision and robust global strategy.
These are just some of the recent developments involving Flutter Entertainment, which continues to make strides in its industry. The company's compliance with regulatory requirements, financial performance, and strategic initiatives are all noteworthy, as is the positive feedback from various analyst firms.
InvestingPro Insights
Flutter Entertainment's recent block listing application aligns with its strong market position and financial performance. According to InvestingPro data, the company boasts a substantial market capitalization of $41.2 billion USD, reflecting its significant presence in the computer programming and data processing services sector.
The company's revenue growth is noteworthy, with a 20.33% increase in the most recent quarter and a 16.28% growth over the last twelve months, reaching $12.88 billion USD. This robust top-line performance underscores Flutter's ability to expand its market share and capitalize on industry opportunities.
InvestingPro Tips highlight that Flutter operates with a moderate level of debt, which could provide financial flexibility for future growth initiatives or potential acquisitions. Additionally, analysts predict the company will be profitable this year, a positive outlook that may interest investors considering the block listing application.
It is worth noting that Flutter has demonstrated strong returns, with a 19.98% price total return over the past three months and an impressive 44.13% return over the last year. These figures suggest growing investor confidence in the company's strategy and market position.
For readers interested in a more comprehensive analysis, InvestingPro offers 11 additional tips for Flutter Entertainment, providing deeper insights into the company's financial health and market performance.
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