Flutter Entertainment

Flutter, owner of Paddy Power and SkyBet, plans to cut up to 1,400 roles as it restructures its UK and Ireland division, with job losses concentrated in Leeds, Dublin and Sunderland and additional reductions in Porto and Cluj-Napoca. The group said a significant increase in betting and gaming duties announced in the 2025 budget has changed the economics of the regulated market and forced a reduction in its fixed-cost base. Flutter expects a one-off charge of $90m (£67.3m) for the redundancies; its shares rose as investors anticipated a leaner cost structure. The move intensifies debate ahead of consideration of further machine games duty increases by the chancellor. » More on theguardian.com

Fitch has cut the outlook for Flutter from “stable” to “negative” but kept the long‑term issuer default rating at BBB. The agency expects leverage to exceed the threshold that could trigger a downgrade in 2026 and possibly 2027, depending on margin recovery in the US and higher taxes in the UK. Fitch points to pressures from investments in forecast markets and marketing as well as subdued Q2 results; these investments are likely to reduce adjusted EBITDA in 2026 by USD 200–300 million. Flutter has largely suspended its share buyback programme and executed only USD 250 million in 2026; Fitch expects strong free cash flow generation in 2026–2028 and limited M&A activity. » More on de.investing.com

Jeremy Peter Jackson sold 1,762 Flutter Entertainment shares on Sept. 1, 2026, for about $172,309 to satisfy tax withholding from vested restricted stock units. The sale was non‑discretionary and part of an automatic compensation settlement, leaving Jackson with 70,452 directly held shares (0.0406% ownership) plus additional derivatives. Flutter reported trailing twelve‑month revenue of $17.2 billion but a net loss of $795 million and the stock has underperformed, with a one‑year return of -68% as of the transaction date. Investors should view the sale as a routine tax‑related transaction rather than a change in insider conviction. » More on finance.yahoo.com