08:25 AM EDT, 09/25/2024 (MT Newswires) -- Flutter Entertainment's ( FLUT ) board authorized a share repurchase program of up to $5 billion, expected to be deployed over the next three to four years, the FanDuel parent said Wednesday.

The buyback program is expected to launch in November following Flutter's Q3 earnings, the company said.

Flutter also provided an updated outlook to its long-term growth prospects, forecasting group revenue of about $21 billion and adjusted EBITDA of over $5 billion in 2027.

Shares of Flutter were up more than 4% in recent premarket activity.

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