Billionaire businessman Kenneth Dart is now the single largest private shareholder in Flutter Entertainment, increasing his control in the global gambling giant yet again.
A notification sent to the London Stock Exchange on 20 May showed that Dart now controls 27.6% of all voting rights in Flutter, having purchased more shares via his investment company Candle Lake.
Dart’s most recent purchase saw his share of voting rights held through equity-based swaps rise from 6.25% to 8.8%. The swaps were secured via Candle Lake’s Cayman Islands-based subsidiary LBS Ltd.
When coupled with the 18.8% of shares Dart owns outright, the 8.8% of rights held via swaps mean that he now controls 27% of the available shares in Flutter.
