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NEWS 16 May 2019

Paddy Power Betfair shareholders approve rebranding

By Matthew Enderby

Voting at Paddy Power Betfair’s annual general meeting, shareholders favoured the company’s rebranding to Flutter Entertainment.

With 99.7% of votes approving the special resolution, the company can now formalise plans for its change of name.

Paddy Power Betfair first disclosed plans to rebrand in its 2018 full year report.

In the report, CEO Peter Jackson also claimed the company had “regained its mojo” following improvements and some of its “classic” marketing.

He added: “The opening of the US online sports betting market has the potential to be the most significant development to occur within the sector since the advent of online betting. Rather than announcing our plans, we have moved quickly to give ourselves the best chance to win in that market.”

Further resolutions from the annual general meeting saw Jackson re-elected as a Director of the company along with Chairman Gary McGann. Six other senior members of staff were also re-elected as Directors, and CFO Jonathon Hill, appointed in March 2018, was elected as a Director for the first time.

All of the measures voted upon by shareholders were approved at the meeting.

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