5th Mar 2025 14:34
(Alliance News) - Flutter Entertainment PLC on Wednesday launched the second tranche of its share repurchase programme, committing up to USD300 million in buybacks as part of its broader USD5 billion programme.
The Dublin-based bookmaker, which owns Betfair and Paddy Power, said the buyback will commence on April 1 on the New York Stock Exchange and conclude no later than June 30.
Goldman Sachs & Co LLC will manage the repurchase process on behalf of Flutter, executing trades independently within pre-set parameters. The company confirmed that repurchased shares will be cancelled to reduce share capital.
The second tranche is part of Flutter's multi-year share buyback programme, first announced in September 2024. The company aims to return approximately USD1 billion to shareholders through buybacks in 2025.
"Any future buyback tranche will be based on an ongoing assessment of the capital needs of the business and general market conditions", Flutter said.
Shares in Flutter Entertainment were up 1.9% at 20,930.00 pence in London on Wednesday afternoon.
By Eva Castanedo, Alliance News reporter
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