Key points:
- Flutter closed out Thursday at a high price of $267.00
- The operator started trading in New York in January
- The first tranche of its $5bn share repurchase programme commenced this week
Flutter Entertainment yesterday recorded its highest closing price since its ordinary shares began trading on the New York Stock Exchange (NYSE) near the start of this year.
Towards the end of last year, it was revealed that Flutter would be delisting its shares on the Irish stock exchange, Euronext Dublin, which was confirmed in January, while still maintaining its listing on the London Stock Exchange (LSE).
At the same time as announcing its Euronext Dublin delisting plans, it also revealed its intention to trade on the NYSE on 29 January, and in late May its primary listing in New York was confirmed.
The closing price on 14 November was $267.00, a new high total for Flutter’s share price beating the previous record set the day before, when the closing price was $265.52.
Good to know: On Thursday, Flutter commenced the first tranche of its $5bn share repurchase programme announced in September
This follows on from Monday’s closing price of $251.01, which broke the high price record set last Friday of $248.04. Tuesday’s closing price did dip to $248.17 before it rose around 7% to Wednesday’s closing price of $265.52.
Of course, this will naturally relate to the operator releasing its third quarter results for 2024 on Tuesday, which revealed year-on-year revenue growth of 27% to $3.25bn, with US revenue alone valued at $1.25bn, an increase of 51%. Owing to these results, the company did raise its guidance for the full year.
In an exclusive interview with Gambling Insider and Gaming America during G2E 2024, Flutter CEO Peter Jackson reflected on a number of areas, interestingly stating: “The thing that’s worth remembering, of course, is that while everything's big in America, the opportunity outside of America is even bigger.”
