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Flutter Entertainment, Parent Company of FanDuel, Seeks $1 Billion to Address Debts

Flutter Entertainment, the parent company of FanDuel, has initiated efforts to raise $1 billion through the issuance of senior debt. This strategic move is aimed at streamlining and repaying existing debts amidst ongoing transitions within the global online gambling industry.

The decision to issue bonds in both US dollars and euros underscores Flutter's proactive approach to capital management, according to industry analysts. By optimizing its debt profile, Flutter aims not only to address current financial obligations but also to reassure investors regarding its long-term growth strategies and financial stability leading up to 2029.

As a dual-listed company on both the New York Stock Exchange (NYSE) and the Financial Times Stock Exchange (FTSE), Flutter enjoys a unique advantage in attracting a diverse pool of international investors. This move signifies Flutter's commitment to maintaining a strong financial footing while navigating the evolving landscape of the online gambling sector.

18 April 2024, 15:56

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