He sits on the boards of two US-based companies Mr Bryant, who is the senior independent director at Compass Group, the listed contract catering company, holds dual Australian and US nationality. Sky News has learnt that Flutter Entertainment, which also owns SkyBet and Betfair, is in advanced talks to appoint John Bryant to the role. a move that will further cement plans to abandon its presence on the London stock market. Those include broadening the company’s investor base among both professional and retail market participants and increasing its access to capital. Other reasons for Flutter mulling a US listing are equally as practical. In nearly every state in which it offers mobile sports betting, FanDuel is tops by market share. In the States, FanDuel is far and away the largest online sportsbook operator, commanding as much market share as its next two closest rivals combined. While Flutter, which also owns Pokerstars, has a sprawling betting empire in Australia and Europe, among other regions, the New York listing makes sense due to the operator’s 95% stake in FanDuel. Market observers believe Flutter listing in the US will remove the conglomerate discount currently hampering the stock and potentially position the company to further delay or altogether scrap plans to sell a portion of FanDuel to public investors. The company previously announced that it consulted some large investors on the proposal and the conversations were positive, indicating there’s clear momentum for the plan. If that happens, analysts believe Flutter shares could arrive in New York before the end of this year. Seventy-five percent of investors, either in person or via proxy, must vote in favor of the resolution in order for the sportsbook operator to proceed with the US listing. Interestingly, that’s also the meeting at which shareholders will vote on the proposal to list Flutter shares on the Nasdaq or New York Stock Exchange (NYSE). The Paddy Power owner holds its annual investor later this month and that could be an ideal time for a chairman announcement. The Sky News article doesn’t mention when Flutter could announce Bryant, or anyone else, as its next chairman. Bryant Could Be Integral to Flutter US Listing He holds degrees from the Australian National University and the Wharton School as well as cybersecurity certification from Harvard Extension School. That background could stoke speculation Flutter will eventually list its stock in the US, which the gaming company said in February it’s examining.īryant’s LinkedIn profile indicates the executive doesn’t have gaming industry experience. the latter two of which trade in New York. He currently serves on the boards of directors at Coca-Cola Europacific Partners Plc, Ball Corporation and Macy’s Inc. McGann has been a Flutter board member for nearly nine years, meaning his status as an independent director ceases at the end of this year under UK corporate governance laws, reports Sky News.įormerly chief executive officer of consumer staples giant Kellogg, Bryant has duel American and Australian citizenship. The FanDuel parent is reportedly in discussions with John Bryant regarding the chairman role, which is being vacated by Gary McGann. ![]() He could be the next chairman of the board at Flutter Entertainment. ![]() Flutter Chairman Rumor Could Confirm US Stock Listingįlutter Entertainment (OTC: PDYPY) is close to hiring a new chairman and that candidate’s background could signal the gaming company will forge ahead with plans to list its stock in the US.
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