Flutter Entertainment has announced that as of 8am today (Monday 5 May) its merger with The Stars Group has entered completion.
Upon completion of the deal, Flutters’ entire enlarged issued share capital was admitted to the premium listing of the Official List of the Financial Conduct Authority and the Official List of Euronext Dublin.
Furthermore, it has now commenced trading on the London Stock Exchange’s main market for listed securities and the Euronext Dublin market under the ticker ‘FLTR’.
The completion follows the green-light being issued last month by shareholders from both sides and the subsequent receipt of all remaining regulatory and competition authority clearances required.
Following the transaction, Flutter will initially have five reporting segments which include TSG International (excluding current US operations), Paddy Power Betfair, Sky Betting and Gaming, Australia (including SportsBet and BetEasy), and US (including FanDuel and all TSG US operations).
Speaking on the merger earlier this month, Peter Jackson, group chief executive at Flutter Entertainment, said: “The enlarged group brings together exceptional brands, products and businesses, a hugely talented and experienced team, and a diverse global presence. The strength of our combined portfolio of assets means that we approach the future with confidence in these uncertain times.
“Both businesses have a strong legacy of leadership when it comes to responsible gambling. As a combination, we are determined to deliver on our commitment to drive a race to the top when it comes to responsible gambling best practice across the sector.”
Further the announcement on March 27, Jan Bolz and Emer Timmons have, effective from today, stepped down as non-executive directors of Flutter. Meanwhile Divyesh Gadhia, Rafael Ashkenazi, Richard Flint, Alfred F. Hurley Jr, David Lazzarato and Mary Turner have all been appointed as non-executive directors.
Gadhia, who was also appointed as deputy chair off the Flutter board of directors, previously commented on the merger after the expected time and completion date was announced last week: “We are very excited about the potential of this combination, which will create a global leader in online betting and gaming with a portfolio of trusted brands, complementary best-in-class products, diversified revenues, stand-out technology and, most importantly, outstanding teams of exceptional people around the world.”
