Last week’s convergence of finance and gaming saw yet another momentous occasion unfold as the esteemed Nevada Gaming Commission bestowed upon a pivotal figure in the gaming industry the honor of a gaming license. This commendable individual is none other than Holly Koeppel, an illustrious member of Flutter Entertainment’s board of directors, who now brims with anticipation ahead of the company’s debut on the illustrious New York Stock Exchange come Monday.
Within the revered halls of Flutter Entertainment, adorned with the promise of high stakes and strategic plays, Koeppel’s name resonates with authority and acumen. Serving as the chairwoman of the audit committee, her indelible mark on the FanDuel parent’s ledger was first imprinted in 2021, subsequently commanding the audit reins a year hence.
Tracing the contours of her storied career, Koeppel’s trajectory is studded with financial exploits and shrewd counsel. Until April of 2018, her wisdom was sought as a Senior Adviser at Corsair Capital LLC, an entity that had once thrived under her stewardship as Managing Partner and Co-Head of Infrastructure. Prior to this, the echelons of Citigroup bore witness to her prowess from 2010 to 2015, where as Partner and Global Co-Head of Citi Infrastructure Investors, she navigated the complex currents of infrastructure investment.
The breadth of Koeppel’s expertise does not end within the confines of Flutter Entertainment. Her strategic insights are sought after across various august boards including the AES Corporation, Arch Resources, Inc., and the storied tobacco purveyor, British American Tobacco Plc.
The tapestry of Flutter’s corporate maneuvers finds itself in a critical juncture as well-timed as Koeppel’s own licensing. With the company’s common stock freshly severed from the listings of Euronext Dublin and the consequential departure from the EUROSTOXX Index, Flutter makes ready its NYSE listing with poised confidence. Retaining its London Stock Exchange listing, the company remains steadfast among the venerated ranks of the FTSE 100 Index, under the newfound banner “FLUT.”
Within the grand theater of US financial markets, the introduction of FanDuel’s parent will see it ascend as one of the grandest publicly traded gaming entities. Beyond the grandstands of FanDuel, Flutter’s empire extends to the dominions of Betfair, Paddy Power, PokerStars, and Sisal, to name but a few of its revered wagering brands.
Though Koeppel now stands licensed in the state of Nevada, Flutter’s imprint is curiously modest within its borders. Its sole gesture is the provision of odds and the FanDuel marquee animating the sportsbook at downtown’s Fremont Hotel Casino, void of any further betting operations in the state.
Notably, Boyd Gaming, the ever-watchful sentinel of the Fremont, claims the ephemeral 5% of FanDuel unbeknownst to Flutter.
The Nevada Gaming Commission’s laudation for Koeppel knows no bounds. At the heart of their Jan. 25 meeting, Commissioner Ogonna Brown, with no shortage of admiration, extolled the Flutter director with encomiums — “fierce, eloquent, and polished.”
Brown further remarked on the essence of regulation, an ever-adaptive force in the industry: “You need to know what’s right. As things evolve and the industry changes, regulation needs to adapt and evolve and maybe new laws need to be passed. Knowing what’s right and doing what needs to be done, if you can do all of those things, you will be successful.”
Koeppel’s presence amplifies the female dynamic within Flutter’s board, as one of four women steering the proverbial ship as independent non-executive directors. Their collective vision is complemented by the recent ascendancy of former Kellogg CEO John Bryant as chairman of the board, a move observed by many as a strategic play to facilitate Flutter’s transatlantic stock market foray.
