Flutter set to appoint new chair as gambling firm looks stateside
Flutter, the world’s largest listed online gambling company, is expected to appoint a US-based businessman to the role of chair, in the latest signal that the firm plans to strengthen its profile in the US.
Sky News first reported that the company is in “advanced” talks to appoint John Bryant to the role, but the deal had not yet crossed the line.
Flutter did not comment on or dispute the report when approached by City PM
Bryant holds dual US-Australian citizenship and is currently a senior director on the board of the FTSE100-listed catering company, Compass Group.
He also currently serves as a non-executive director of US-based companies, including packaging company Ball Corporation and the retailer Macy’s. He is the former CEO and chair of consumer goods giant, Kellogg’s.
The news comes after the group — which owns PaddyPower, Betfair and FanDuel — announced in February that it would consider an additional US listing, which would “yield a number of long-term strategic and capital market benefits,” including access to US capital markets and investors.
The company also said the move would take precedence over any separate listing of FanDuel and would be put to shareholders. Its Annual General Meeting (AGM) is set to take place later this month.
The potential move could also represent a step towards shifting its primary listing to the US.
The group will be subject to stricter regulations in the UK as the government is set to overhaul regulations and crack down on “gambling-related harm.”
Flutter recently reported revenue growth of 27 per cent for 2022, bolstered by US growth.