Flutter Board Member Gains License of Company’s NYSE Listing

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Posted on: January 28, 2024, 05:00h. 

Last updated on: January 29, 2024, 11:45h.

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The Nevada Gaming Commission (NGC) granted a gaming licence to a personnel of Flutter Entertainment’s (OTC:PDYPY) committee of board past week. That’s up of that company’s New York Stock Exchange (NYSE) listing connected Monday.

Flutter FOX BetThe Flutter logo arsenic seen successful an investor deck. Director Holly Koeppel was granted a Nevada gaming licence past week. (Image: Flutter Entertainment)

Independent head Holly Koeppel, Flutter’s audit committee chairwoman, was approved for licensing successful Nevada. She joined nan committee of nan FanDuel genitor successful 2021, taking nan lead connected nan audit committee nan pursuing year.

Up until April 2018, Holly was a Senior Adviser to Corsair Capital LLC, wherever she had antecedently served arsenic Managing Partner and Co-Head of Infrastructure from 2015 until her status successful 2017. From 2010 to 2015, Holly was Partner and Global Co-Head of Citi Infrastructure Investors, a section of Citigroup,” according to nan Irish gaming company’s investor relations website.

Koeppel is besides a non-executive head astatine AES Corporation, Arch Resources, Inc., and British American Tobacco Plc.

Ideal Timing for Koeppel Licensing

Flutter precocious delisted its communal banal from Euronext Dublin, resulting successful its removal from nan EUROSTOXX Index, successful preparation for its NYSE listing. The usability told investors that it would support its listing connected nan London Stock Exchange (LSE) and frankincense clasp rank successful nan FTSE 100 Index- a wide followed gauge of UK-listed equities. Flutter will waste and acquisition successful nan U.S. nether nan ticker “FLUT.”

By listing connected nan NYSE, nan FanDuel genitor will instantly go 1 of nan largest publically traded gaming companies trading connected a U.S. bourse. In summation to FanDuel, Flutter owns Betfair, Paddy Power, PokerStars, and Sisal, among different well-known wagering brands.

While Koeppel is now licensed successful Nevada, Flutter has minimal vulnerability successful nan state. The usability provides likelihood and FanDuel branding for nan downtown Fremont Hotel Casino sportsbook. But it doesn’t return bets anyplace successful nan state.

Boyd Gaming (NYSE: BYD), nan usability of nan Fremont, owns 5% of FanDuel, which Flutter does not.

NGC Gushes Over Koeppel

Apparently, Koeppel was a deed astatine nan Jan. 25 NGC meeting, arsenic Commissioner Ogonna Brown called nan Flutter head “fierce, eloquent and polished.”

You request to cognize what’s right. Regulation isn’t nan rules. As things germinate and nan manufacture changes, regularisation needs to accommodate and germinate and possibly caller laws request to beryllium passed,” said Brown. “Knowing what’s correct and doing what needs to beryllium done, if you tin do each of those things, you will beryllium successful.”

Koeppel is 1 of 4 women connected nan Flutter board, each independent non-executive directors. Former Kellogg CEO John Bryant took nan reins arsenic president of nan Flutter committee past April successful a move galore speculated was aimed astatine facilitating nan U.S. banal listing.

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