Flutter Entertainment plc (FLUT, FLTR.L), an online sports betting and iGaming operator, on Wednesday announced the launch of the fifth tranche of its share repurchase program.
The company entered into non-discretionary arrangements with Goldman Sachs & Co. LLC to repurchase ordinary shares on its behalf for an aggregate consideration of up to $250 million on the New York Stock Exchange.
The buyback is scheduled to begin on March 12 and will end no later than May 21.
The repurchase forms part of the company's multi-year share repurchase program of up to $5 billion announced in September 2024.
Goldman Sachs will conduct the buyback independently of Flutter under pre-set parameters.
The repurchased shares will be cancelled to reduce the company's share capital.
In the pre-market trading, Flutter Entertainment is 0.84% higher at $108.18 on the New York Stock Exchange.
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