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HSBC Holds 5.8% Stake in Flutter Entertainment

George Miller
June 13, 2019
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HSBC Holds 5.8% Stake in Flutter EntertainmentReading Time: 1 minute

 

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.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: HSBC Holds 5.8% Stake in Flutter Entertainment

George Miller

George Miller

George Miller began his career in content marketing before joining the HIPTHER team in 2016 as an Editor and Content Manager. His ability to distill complex regulatory data into newsworthy B2B content led to his appointment as Head of Content in 2017.…

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