In a press release to the London Stock Exchange this morning, it was announced that Richard Flint will not seek re-election to the Flutter board of directors at the 2024 annual general meeting (AGM). The AGM is scheduled to take place on 1 May 2024, and Flint is expected to step down from the board at the conclusion of the meeting.
Flint became a member of the board in March 2020 after the merger of Flutter Entertainment and The Stars Group Inc (TSG). He previously served as the executive chair of Sky Betting & Gaming until October 2019 and was the chief executive officer for 10 years before the company was acquired by TSG in 2018.
John Bryant, chair of the group, commented on the board changes, thanking Richard for the value and strategic insights he has brought to Flutter and acknowledging his contribution to the development of the Sky Bet business. He wished Richard success in the future.
Flint’s decision to step down comes as Flutter looks to stay ahead of the curve following the release of the UK’s white paper in April 2023. Chief executive Peter Jackson believes Flutter has been leading the race in the UK, citing the company’s strong performance in the UK & Ireland in its Q3 results. The region saw revenue grow by 11.2% to £566m, with online revenue increasing by 11.5% to £494m, and retail revenue growing by 9.1% to £72m.
Despite Flint’s departure and other personnel changes on the board in 2023, Flutter-owned FanDuel has ensured impressive growth for the company. Acquired in May 2018 as a daily fantasy sports operator, FanDuel has since become a leading provider of sports betting and online casino in the US and is now Flutter’s main revenue generator. US revenue reached £668m in Q3, up 11.7% and exceeding the revenue from Flutter’s UK and Ireland business. Flutter also reported ongoing growth in the US as its main driver, with group revenue increasing by 7.6% year-on-year to £2.04bn.