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HSBC Holds 5.8% Stake in Flutter Entertainment

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6 years ago

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HSBC Holds 5.8% Stake in Flutter Entertainment
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Flutter Entertainment has revealed that the HSBC Bank PLC holds a 5.8% stake in the company.

HSBC now holds an interest in 2.5 million of Flutter Entertainment’s 78.2 million shares. Following the reveal about the shareholdings, Flutter Entertainment’s shares shot up by 0.6% and were trading at 5892.00 pence each. HSBC share prices went up by 1.2% at 658.40p.

Paddy Power Betfair had first announced that they would be rebranding as Flutter Entertainment, in their 2018 financial report filing. The company said that their rebranding strategy would help them represent its diverse and global brands. The company posted a massive 47% year-on-year increase in revenues from its US operations for the first three months of 2019. The group generated £78 million from its businesses in the US.

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