Kenneth Dart raised his voting rights in Flutter Entertainment to 27.6%, while Canadian Imperial Bank of Commerce acquired a 5.3% stake, according to filings cited in the report. Dart's holding combines 18.8% in direct shares with rights from equity-based swaps.
The reported ownership changes affect the shareholder positions of two investors in Flutter.
Quarter ended 30 September 2026
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It was reported that Kenneth Dart’s Candle Lake increased its Evolution holding to 30.02%. The stake triggered a mandatory takeover offer under Swedish rules.
Evolution’s board advised shareholders against accepting Candle Lake’s takeover bid. Directors said the SEK695-per-share offer undervalues Evolution, while its shares traded at approximately SEK833. Candle Lake said it does not aim to buy every outstanding share; shareholders have until 15 September to accept.
Flutter Entertainment said it is reviewing its London Stock Exchange listing and may delist its ordinary shares, while its New York Stock Exchange listing would remain unaffected. The company expects to complete the review during Q2 2026 and update shareholders; the announcement appeared in its Q1 2026 results presentation.
Sportradar agreed a $170m sale, European Gaming reported in its gambling stocks review for 5–9 October. Six of the nine stocks tracked gained during the week, while Citi upgraded Flutter.
Bank of America raised its DraftKings rating from Neutral to Buy on 8 October. Analyst Shaun Kelley retained a $27 price target after shares fell 19% over a month. The bank said earnings expectations might be approaching a low and cited reduced cannibalisation risk from prediction markets.
Bank of America raised its rating on DraftKings to Buy from Neutral on 8 October, with analyst Shaun Kelley keeping a $27 price target, according to the report. The shares were trading around $19.53 at the time, after falling 19% over the previous month while the wider market was little changed.