Flutter Entertainment Close to Announcing New Chairman?

Gambling industry giant Flutter Entertainment who operates brands such as Betfair, Paddy Power, PokerStars and Skybet are close to appointing a new Chairman it is being reported.

The FTSE-100 company are near to announcing US businessman John Bryant who currently is senior independent director at Compass Group. According to Sky News Flutter Entertainment are finalising talks with Mr Bryant to become their new Chairman as the company plan to leave the London Stock Market and list on the US market.

The appointment has still some hurdles to jump before Flutter officially announce the appointment and is not certain to happen but with Mr Bryant who resides in the US it seems a likely move if Flutter do make the move to listing in the US.

The gambling firm which is valued at £26 billion holds its annual general meeting later this month and would seem an ideal time for the company to announce its new Chairman along with shareholders voting on the move to the US where its FanDuel business is taking more and more importance to its revenues, indeed Flutter believes that the US market will become its biggest revenue earner and that is one reason behind the intended move to the US stock market along with accessing greater capital markets for expansion.

It must be noted that Flutter have not explicitly said it will leave the London Stock Exchange it is canvassing shareholders on the proposal.