Richard Flint will depart from the Flutter board.
In a statement issued to the London Stock Exchange this morning, Flint revealed that he will not be seeking re-election to the Flutter board at the 2024 Annual General Meeting (AGM).
Flint will leave the Flutter Entertainment board. Flutter Entertainment’s AGM is set for May 1, 2024, and Flint is anticipated to depart the board after the meeting.
Flint joined the board in March 2020, following the merger of Flutter Entertainment with The Stars Group Inc (TSG).
He served as Executive Chairman of Sky Betting & Gaming until October 2019, having previously been CEO for 10 years until the company was acquired by TSG in 2018.
Commenting on the board change, Group Chairman John Bryant stated:
“The board would like to express gratitude to Richard for the significant value and strategic insight he has brought to Flutter during his time on the board, and to acknowledge his immense contribution to the development of the business since its beginning in 2001 with the Sky Bet operation. We wish him all the best for the future.”
Flint departs as Flutter leads the UK market
Flint’s decision to step down comes as Flutter aims to get ahead of the UK’s 2023 April White Paper.
Peter Jackson, the chief executive of Flutter, is certain of the company’s triumph, stating: “From a British perspective, we are clearly ahead of the competition.
“We are at the forefront of change, and others are catching up, which means we are in a leading position. The team’s execution in the UK is exceptional.”
Jackson made these remarks during Flutter’s third-quarter earnings call in November.
In Flutter’s third-quarter results, income in the UK and Ireland grew by 11.2% to £566 million (€657.8 million/$721.4 million). Online income in the region grew by 11.5% to £494 million, while retail income grew by 9.1% to £72 million.
Dublin-based Flutter also emphasized continued growth in the United States as a key driver. Group income increased by 7.6% year-on-year to £2.04 billion.
Flutter’s success in the United States comes despite internal personnel changes.
Flint will be departing in early 2024, which aligns with a trend of board changes at Flutter in 2023.
Jonathan Hill, the group’s chief operating officer, stepped down from the company’s board in April. Subsequently, John Bryant replaced Gary McGann as chairman in September.
Mary Turner also left the company in the same month, resigning from her position as non-executive director. Turner’s role as chair of the workforce engagement committee also ended.
Despite the company’s upheaval, Flutter’s FanDuel ensured the company achieved impressive growth in the third quarter of 2023.
FanDuel, acquired in May 2018 when it was a daily fantasy sports operator, has grown to become the leading sports betting and online casino provider in the US.
Flutters primary revenue generator is now FanDuel. The US market generated $668 million in the third quarter, a 11.7% increase, surpassing Flutters UK and Ireland operations, the second largest contributor, by more than $100 million.
Subscribe to the iGaming newsletter.
