The continuation of racing across Australia and the US has come as a welcome relief for Flutter Entertainment, as its retail estate faces a blow from the postponement of global sporting events. Publishing a Q1 trading update for the three months ended 31 March 2020, Flutter reported group-wide year-on-year revenue growth of 16% in Q1, reported at £547 million for …
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Supporting its current merger schedule, the board of The Stars Group Inc (TSG) has revealed that independent advisories’ ISS Governance and Glass Lewis have approved deal terms backing a multibillion-pound combination with Flutter Entertainment. ISS and Glass Lewis were appointed by TSG investors to act as independent institutional advisors, undertaking due diligence of deal terms for the benefit of TSG …
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The UK Competitions and Markets Authority (CMA) has given the green light for the merger between The Stars Group (TSG) and Flutter Entertainment to go ahead, clearing ‘phase 1′ of its competition review. Last October, Flutter and TSG agreed to terms on an all-share combination, as the two companies set about creating the outright global market leader operating across all …
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FTSE100-listed Flutter Entertainment has underlined that its multi-billion pound merger with The Stars Group Inc (TSG) remains on track, as the group plans to undertake several COVID-19 adjustments. Planning for 2020 disruptions, Flutter confirmed that it has secured a new debt arrangement which provides the company with access to a £1.3 billion revolving credit facility, supporting the group’s business continuity …
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FTSE100-listed Flutter Entertainment has become the first UK betting firm to revise its full-year 2020 corporate guidance. Issuing a market filing, Flutter anticipates that COVID-19 disruptions across core betting territories may result in a £90-110m decline in its group-wide full-year EBITDA results. Flutter governance has predicted that the COVID-19 outbreak will affect operations, as 78% of its group revenues are …
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The UK Competition and Markets Authority (CMA) has begun its evaluation of the planned merger agreed by FTSE100 Flutter Entertainment Plc with Toronto TSX counterpart The Stars Group Inc. Last October, Flutter and Stars Group governances agreed to terms on an all-share combination, seeking to create the outright global market leader operating across all online gambling verticals. For the UK …
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Flutter Entertainment Plc has confirmed the appointment of Fiona Thorne as new Group Corporate Affairs Director. An expert in corporate communications, agency and stakeholder management for mass-market enterprises, Thorne was the former Director of Corporate Affairs for Gala Coral (2014-2016) prior to its merger with Ladbrokes and subsequent takeover by GVC Holdings. Thorne joins Flutter’s executive leadership team from New …
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UK media reports further boardroom changes for FTSE betting groups, as Flutter Entertainment eyes its next Chairman appointment to replace incumbent Gary McGann in 2020. This weekend, The Sunday Times reported that Flutter’s new Non-Executive Director Andrew Higginson was the frontrunner to replace Gary McGann (69), who is set to retire next year. Higginson, who serves as the current Group …
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Flutter Entertainment Plc, has seen its total group revenues jump by 9% during Q3, despite its retail division continuing to feel the effects of the changes in fixed odds betting terminals (FOBT) legislation implemented earlier this year. Publishing its interim report for the three months ended 30 September 2019, Flutter Entertainment disclosed a 9% year-on-year decline in retail revenues, down …
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Chief Executives from a number of UK betting companies have signed up to a new package of safer gambling commitments, which will place a focus on mitigating the associated risks of gambling. The CEOs from Aspers, bet365, Caesars, Flutter Entertainment, Genting, GVC Holdings, Playtech, Rank Group, Sky Betting & Gaming and William Hill have all committed to the new set …
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