Richard Flint, the former CEO of Sky Betting & Gaming (SBG), has decided to step down from the board of directors at Flutter Entertainment.
Flutter, the parent company of SBG, announced today that Flint will not seek re-election during the upcoming Annual General Meeting (AGM) scheduled for 1 May. His departure will take effect after the conclusion of that meeting. Currently, Flint serves as the chairperson of Butternut Box, a natural dog food delivery company.
Flint initially joined the board after Flutter acquired The Stars Group (TSG), SBG’s parent company, in March 2020. Before that acquisition, Flint held the position of executive chair, a role he assumed after TSG’s acquisition of SBG in 2018. His association with SBG spans a decade as its CEO and an overall career of 17 years with the Leeds-based online gaming operator. Flint’s tenure predates the rebranding of Surrey Sports to Sky Bet, and he is widely recognized for being instrumental in establishing the UK’s first recreational media-led sports betting brand.
Chairman comment
Flutter’s chair, John Bryant, expressed gratitude for Flint’s significant contributions and strategic insights during his tenure. Bryant acknowledged Flint’s substantial role in developing the Sky Bet business since its inception in 2001 and wished him success in his future endeavours.
Flint’s decision to step down comes at a crucial time for Flutter as the company is preparing for a dual listing on the New York Nasdaq stock exchange on January 29th. This strategic move is aimed at gaining access to deeper capital markets, attracting a larger pool of talent, and expanding the company’s footprint in the United States. Despite the dual listing, Flutter will maintain its primary listing on the London Stock Exchange, with no impact on the current status. However, the company has hinted at the possibility of pursuing a primary listing in the US in the future.
In Flutter’s Q3 2023 financial report, it was highlighted that over 30 percent of its revenue was generated in the US, largely due to the success of its FanDuel brand, which holds the position of the number one online sports betting platform by revenue. The decision to step down by Richard Flint coincides with these strategic developments within Flutter Entertainment.
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