In a joint announcement, Flutter Entertainment plc (listed on the London Stock Exchange/Euronext Dublin as FLTR) and Fox Corporation (listed on Nasdaq as FOX and FOXA) have revealed their plan to shutter the sports betting platform, FOX Bet. This closure will be phased and is scheduled to be completed between July 31 and August 31, 2023.
Flutter has been managing FOX Bet under the umbrella of The Stars Group US (TSG US), which also includes the US operations of PokerStars. Despite this change, Flutter will maintain control over PokerStars and the popular US sports betting platform, FanDuel.
As for Fox Corporation, they will maintain rights to the FOX and FOX Bet brands, which includes FOX Bet Super 6. Further plans have been announced to introduce a brand new FOX Super 6 game later this summer.
It’s also worth noting that FOX continues to hold its option to purchase an 18.6% stake in FanDuel. Moreover, Fox Corporation currently holds a 2.5% stake in Flutter Entertainment plc.