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Paddy Power Betfair Begins Trading as Flutter Entertainment Plc

Flutter Entertainment Plc

Gambling giant Paddy Power Betfair has began trading on the London Stock Exchange under its new name Flutter Entertainment Plc using the ticker FLTR.

UK & Ireland PokerNews discovered in March plans for Paddy Power Betfair to rebrand as Flutter Entertainment Plc if the compay’s shareholders agreed to the name change. Ninety-nine percent of the shareholders approved of the new name at the company’s annual general meeting and today was the first day of trading under Flutter.

The company previously communicated the rebranding was to better reflect its broader business that included Paddy Power, Betfair, Sportsbet, Adjarabet, TVG and FanDuel.

Flutter is a historic name heralding back to the birth of the Betfair betting exchange. Betfair merged with a rival called Flutter and went on to become the market leading in betting exchanges.

Shares in Flutter Entertainment Plc were trading at 5,766.00 pence per share, at time of writing. It has been a roller-coaster of a year for the company’s investors with the share price hitting a 12-month low of 5,390.00 pence per share on Mar. 8 down from a 12-month high of 9,180.00 pence per share on May 31, 2018.

Directors of Flutter are confident its US-facing business will be a major success and help push the share pice back towards the dizzy heights of a year ago.

The FLTR ticker isn’t a new one as it used to belong to the now defunct Filtrona Porous Technologies, a supplier of plastics and fibre products, which was rebranded to Essentra Plc in Jun. 2013.

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  • Flutter Entertainment Plc is the new trading name of Paddy Power Betfair.

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