U.S. businessman and billionaire Kenneth Dart has increased his shares in Flutter Entertainment and has now become the biggest shareholder of the company with 27.6% of all...
CIBC acquires a 5.3% stake in Flutter Entertainment
The Canadian Imperial Bank of Commerce (CIBC) has acquired a 5.3% stake in Flutter Entertainment, as reported on the London Stock Exchange on May 26, 2026.
CIBC is the fifth biggest bank in Canada after Royal Bank of Canada, Toronto-Dominion Bank, Bank of Montreal, and Scotiabank, and its newest acquisition in Flutter is now equal to an $899 million stake in the company.
Previously, the bank had no holding in Flutter, as it was stated that CIBC passed the 5.3% threshold on May 15, 2026, becoming the latest company to join investors who have been purchasing stakes in the online gambling operator.
Just days ago, billionaire Kenneth Dart became the biggest Flutter shareholder after he increased his stake to 27.6%. Prior to that, BlackRock increased its stake in the company to 5%, while investment fund Parvus Asset Management doubled its stake to 10%.
CIBC’s entry aligns with a time when Flutter’s share price has been changing dramatically, as it dropped by 61% during the last year. At the moment, the company is in the middle of a $5 billion buyback program, with the latest 10-week $250 million share buyback program launched on March 11, 2026.
Flutter Entertainment has published its Q1 2026 earnings, revealing that the company’s revenue saw a 17% year-on-year rise, reaching $4.3 billion for the quarter.Adjusted...
