Flutter Entertainment PLC US CEO and listing update (2994Y)

TIDMFLTR

RNS Number : 2994Y

Flutter Entertainment PLC

12 May 2021

12 May 2021

Flutter Entertainment plc ("Flutter")

US CEO and listing update

Flutter announces that Matt King, Chief Executive Officer of FanDuel Group, has given notice of his intention to leave the Group. During his 4 years as CEO, Matt has overseen the transformation of the business from online daily fantasy sports operator to the market leader in US online sports betting and gaming. Matt has agreed to remain with FanDuel while a search process is undertaken to appoint his successor.

As previously announced, the Flutter Board has been assessing the potential merits of listing a small stake in FanDuel in the US. Whilst Matt's departure will affect the timing of any potential US listing, the Board will continue to keep this option under review.

Commenting on Matt's decision, Peter Jackson, CEO of Flutter Entertainment PLC said:

"I would like to take this opportunity to thank Matt for his considerable contribution in helping to make FanDuel the US market leader it is today. FanDuel has achieved so much in the 3 years since PASPA was repealed and that is due in no small part to Matt's leadership and the strong team built around him. While we will be sorry to see him leave, he leaves the business in great shape. We are starting the process of looking for a new CEO for FanDuel and we remain focused on maintaining our leadership position in the US market."

FanDuel CEO Matt King said:

"It has been a privilege to lead FanDuel over the last 4 years through what has been an incredibly exciting period for the company. With FanDuel well positioned for the next chapter of its growth and always an entrepreneur at heart, now is the time for me to take on new opportunities as the next step in my career. I want to thank Peter and the whole Flutter team for their unwavering support since acquiring FanDuel 3 years ago. I have no doubt that the business will continue to go from strength to strength and I wish all of my colleagues the very best for the future as they pursue the next stage of growth."

Contacts:

 
 Investor Relations: 
 David Jennings, Group Director of Investor 
  Relations & FP&A                             + 353 87 951 3560 
 Ciara O'Mullane, Investor Relations           + 353 87 947 7862 
 Liam Kealy, Investor Relations                + 353 87 665 2014 
 
   Press: 
 Fi Thorne, Corporate Affairs                  + 44 75 2111 4787 
  Lindsay Dunford, Corporate Affairs            + 44 79 3197 2959 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCLFLLFFELFBBZ

(END) Dow Jones Newswires

May 12, 2021 02:00 ET (06:00 GMT)