Flutter Entertainment sees fresh billionaire backing, shares react after Ken Dart lifts swap stake

By Thomas Klein, Operations & Strategy desk. Reviewed prior to publication on 2026-06-27, 12:11.

Flutter Entertainment (IE00BWT6H894) is drawing renewed investor attention after billionaire Ken Dart increased his economic exposure to the betting group through a $35 million total return swap, as highlighted in a fresh SEC Form 4 and reported by Investing.com.Investing.com report on Ken Dart's swap

What the Dart filing shows

According to the Form 4 filed with the U.S. Securities and Exchange Commission on June 25, 2026, Dart acquired on June 23 a total return swap referencing 350,000 Flutter shares at a reference price of 98.5771 dollars per share.Investing.com coverage of the SEC filing

The transaction increases his notional position in Flutter to 17,830,927 shares, held indirectly through entities LBS Limited and Lake Michigan Limited, with the swap scheduled to terminate on March 2, 2028 on a cash-settled basis.German-language Investing.com article on Dart's position

Share reaction in New York and London

The additional exposure from a disclosed 10 percent owner coincided with a 5.2 percent rise in Flutter shares on the NYSE on Friday, with Investing.com linking the move directly to the Dart swap disclosure.Investing.com note on the 5.2 percent move

On the London listing, data from Davy shows the Flutter shares at 7,636 pence at 08:44 local time on June 27, 2026, up 5.76 percent on the day with an intraday range between 7,172 and 7,680 pence.Davy price data for Flutter shares in London

How Flutter makes its money

Flutter Entertainment generates most of its revenue from online sports betting and iGaming through brands such as FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, and Sportsbet in Australia, each offering integrated sportsbook and online casino platforms.Flutter company overview of its operating brands

Where the shares trade today

The Flutter Entertainment shares (IE00BWT6H894) trade on the London Stock Exchange at 7,636 pence as of 2026-06-27, 08:44 UK time.

This article is for informational purposes only and does not constitute investment advice, a recommendation to buy or sell any security, or any other form of financial guidance. Readers should conduct their own research or consult a qualified advisor before making investment decisions.