Flutter Entertainment bets on growth with £812m share sale

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By Aidan Gregory
29 May 2020

Flutter Entertainment, the parent of bookies Paddy Power and Betfair, has sold £812m of new shares to institutional investors to reduce debt and position itself for further growth once sporting events around the world are allowed to resume and its retail stores are permitted to reopen.

The company sees significant opportunities for growth following the Covid-19 global pandemic which it wants to be in a position to capitalise on, having closed its merger with Canada's Stars Group, the owner of online casino PokerStars. 

Flutter thinks that more US states will move to regulate sports ...

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