Flutter to put US shares listing proposal to shareholders at AGM

After Flutter recently revealed that it would be consulting its shareholders on listing more ordinary shares in the US, it has now said it will put a formal resolution to its shareholders at the company’s annual general meeting (AGM) on 27 April.

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Flutter stated it received ‘strong support’ from the shareholders when it consulted with them about the idea.

The resolution that it will formally put to the shareholders at its next AGM will, if passed, see the requisite changes made to Flutter’s articles of association so that it can make the additional listing. The vote needs to be passed by a 75% majority – and if it is successful, it will aim to make the listing by Q4 2023.

The news comes shortly after the company announced that its deal with PA Betting Services would be extended until 2028 – which will see Flutter’s brands, such as Paddy Power and FanDuel, receive racing data from over 50,000 horse and greyhound races per year.

Eugene Delaney, Director of PA Betting Services, said: “We are proud to play such an integral role for Flutter.

“We are excited to be extending our partnership with such an esteemed global brand that continues to see its coverage and demand grow, the PA Betting Services’ extensive range of services will continue to support this.”

Furthermore, it also reported a 27% revenue increase for its full year 2022, totalling £7.69bn ($9.21bn).

The group highlighted its US operations in particular, with 50% Q4 market share and Maryland and Ohio representing its most successful launches to date.

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