The filing comes after Flutter listed its shares on the New York Stock Exchange in January, and ahead of a move in its primary listing to the U.S. on May 31.
ValueAct Capital on Wednesday unveiled a stake in Flutter Entertainment , the Dublin-based parent company of sports betting firm Fanduel. The hedge fund, led by Mason Morfit, reported a position of roughly 495,000 shares of Flutter, with a market value of about $78.1 million, according to a securities filing.
The hedge fund previously had a position in The Stars Group, which was acquired by Flutter in 2020. While the ValueAct stake in Flutter is small, Gordon Haskett analyst Don Bilson pointed out in a note to clients that UBS also reported a stake in the gaming company. UBS has previously worked with ValueAct to build stakes in individual stocks for the hedge fund, Bilson said.
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