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Flutter Entertainment PLC ( (FLUT) ) has issued an update.
Flutter Entertainment plc has continued its U.S. share buyback programme, repurchasing 29,486 ordinary shares on 23 March through Goldman Sachs at a volume-weighted average price of $109.97, with the redeemed shares to be cancelled. The transaction forms part of the company’s previously announced plans to repurchase up to $250 million of stock over 10 weeks and up to $5 billion in total, reducing the share count to 174,923,092 and signalling an ongoing commitment to returning capital to shareholders and optimising its capital structure.
By shrinking its equity base, Flutter is effectively increasing earnings per share potential and reinforcing management’s confidence in the business’s cash generation, a move that may prove supportive for the stock in a sector where scale, balance-sheet efficiency and investor returns are key competitive differentiators. The continued execution of the buyback underlines Flutter’s efforts to align its U.S. listing profile and capital allocation with large-cap peers in the online betting and gaming industry, which could bolster its appeal among institutional investors.
More about Flutter Entertainment PLC
Flutter Entertainment plc is a global online sports betting, gaming and entertainment company, whose brands operate across regulated markets in the U.S., Europe and other regions. The group focuses on digital wagering and gaming products, targeting both recreational and more engaged bettors via multiple online platforms.
Find detailed analytics on FLUT stock on TipRanks’ Stock Analysis page.