Tag Archives: Peter Jackson

Flutter begins ‘new era’ by completing merger with Stars Group

A new FTSE100 gambling giant was formed this morning, as Flutter Entertainment Plc confirmed the outright completion of its $11 billion merger with The Stars Group Inc (TSG).   Flutter has completed its six-month merger pursuit of TSG ‘on schedule’, securing all regulatory (Australia, UK and US) and shareholder approvals during the first half of 2020 trading.  Updating its timetable, the …

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International profile buoys Flutter during troubled times

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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Stars Group institutional advisors back Flutter combination

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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UK CMA approves Flutter-Stars merger

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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Flutter maintains confidence in Stars Group agenda 

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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COVID-19 disruptions see Flutter revise 2020 guidance

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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CMA begins probe of Flutter-Stars combination

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 appoints Fiona Thorne as Corporate Affairs lead

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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Andrew Higginson frontrunner to chair Flutter-Stars enterprise

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 continues to feel the effect of FOBT ruling during Q3

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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