Flutter Entertainment, the leading online sports betting and iGaming operator, has announced a plan to repurchase up to $5 billion worth of its own shares. The company will provide further details during an upcoming investor event, where it will also outline its goals for 2027.
The company’s board of directors has approved this buyback initiative, which is expected to unfold over the next three to four years. The program is set to begin after the release of Flutter’s third-quarter earnings in November 2024.
In addition to this, Flutter, the parent company of FanDuel Group, emphasized the strategic value of this move. The company operates extensively in the US, where FanDuel holds a strong market presence.
According to Flutter’s official statement, the pace and total amount of shares repurchased will be influenced by factors like legal requirements, market conditions, and share price. The company added, “With access to a large and growing total addressable market (TAM), we believe we are well-positioned to deliver profitable growth and create long-term value for shareholders.”
Peter Jackson, Flutter’s CEO, also touched on the company’s financial outlook and the broader impact of the repurchase plan. He expressed optimism about Flutter’s future and its ability to tap into the global regulated betting market, which is valued at nearly $370 billion.
Jackson stated, “With our unmatched scale, diversification, and our global differentiator, The Flutter Edge, we hold a clear advantage in the market. This will drive our growth and build operating leverage over time.”
He also explained that this buyback program is part of Flutter’s broader strategy, providing flexibility in capital allocation. This allows the company to invest in organic growth, explore mergers and acquisitions, and return capital to shareholders. Jackson concluded, “Our plan to return up to $5 billion through share repurchases over the next few years reflects our strong confidence in Flutter’s future.”
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