Flutter Entertainment has begun executing its previously announced $5 billion share repurchase program, acquiring approximately 9,600 shares on 2024's final trading day and over 13,000 shares on January 2, 2025. Goldman Sachs is managing these open market purchases on Flutter's behalf.

The company aims to repurchase $350 million worth of shares by March 31, 2025, as part of its larger $5 billion buyback initiative announced in September 2024. Following recent repurchases, Flutter's outstanding shares total 177,881,080.

The repurchases are occurring at favorable valuations, with recent purchase prices ranging from $254.96 to $260.08, well below the company's 52-week high of $284.79. Market analysts remain overwhelmingly bullish on Flutter, with 20 out of 22 analysts rating it as "strong buy" or "buy" and setting an average price target of $303.90—18.36% above current trading levels.

This marks Flutter's first share repurchase program since its New York Stock Exchange listing in early 2024. The company, which owns FanDuel—a dominant player in US online sports betting alongside DraftKings—shifted its primary listing to the US in mid-2024 to expand its investor base and enhance share liquidity.

The $5 billion buyback program represents one of the gaming industry's largest capital return initiatives in 2024, significantly exceeding DraftKings' $1 billion repurchase announcement from the previous month.

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