Flutter Entertainment plc: insider trades · United States · SEC (Form 4)

About Flutter Entertainment plc

Flutter Entertainment plc is a global online sports betting and iGaming group listed in the United States on the NYSE under the ticker FLUT. For French-speaking investors, Flutter is best understood as a regulated digital leisure company rather than a traditional casino operator: its core activities are sports betting, online casino, poker, and related gaming products delivered through a portfolio of locally powerful brands. The company was formed in 2016 through the merger of Paddy Power and Betfair, and since then it has expanded through a series of strategic acquisitions and partnerships that broadened its footprint across the UK and Ireland, continental Europe, Australia, South America, and, most importantly, the United States. Its operational headquarters are in New York, United States, underscoring the growing strategic importance of the US market to the group’s profile and valuation. Flutter’s competitive advantage comes from scale, brand leadership, and technology. The company operates a multi-brand portfolio that includes FanDuel in the US, as well as Paddy Power, Betfair, PokerStars, Sky Betting & Gaming, Sisal, and Sportsbet. This mix gives Flutter exposure to several of the most important regulated betting and gaming markets, while also allowing it to spread product development, marketing capabilities, data analytics, compliance expertise, and platform infrastructure across the group. Management often refers to this operating model as the “Flutter Edge,” a framework designed to translate scale into faster product innovation and improved customer acquisition efficiency. In the US, FanDuel is the group’s flagship asset and a leading franchise in online sports betting and iGaming. Outside the US, Flutter maintains strong competitive positions in mature regulated markets, particularly in the UK and Ireland and in Australia, while also expanding its international reach through acquisitions such as Sisal and other local-market brands. The business mix remains heavily driven by online sports betting, which is supplemented by casino-style gaming and poker. Recent corporate developments have been important. In 2025, Flutter completed the buyout of Boyd Gaming’s remaining stake in FanDuel, giving the group 100% ownership of the asset and strengthening its US economics. Flutter also completed an initial stake acquisition in NSX Group in Brazil, adding exposure to a fast-growing regulated market in Latin America. The company published its full-year 2025 results in February 2026 and continued to present itself as the world’s leading online sports betting and iGaming operator. For investors in France, Belgium, and Switzerland, Flutter offers a high-quality global growth story with meaningful US upside, but it also carries the usual sector risks: regulation, taxation, customer acquisition costs, and competition from large US and international peers.