Paddy Power Betfair announced it is changing its name to Flutter Entertainment as of Tuesday, as it looks to rebrand its expanding business.

As a result, the betting company is set to trade under a new stock ticker on both the London Stock Exchange and Euronext Dublin.

The name change was first announced back in March, and shareholders have since voted in favour of the name change.

At the time, the company said that the name change would better “reflect the increased diversity of our brands and operations”.

In the firm’s latest results, Paddy Power Betfair said that revenues jumped by almost a fifth, amid strong growth in the US market.

Paddy Power Betfair was formed following a merger between Paddy Power and Betfair in 2015.

As well as operating an online and retail business in the UK, the firm also operates in Australia and the United States.

The London-listed company is a constituent of the FTSE 100 Index. It owns various brands including Sportsbet, TVG and FanDuel.

Shares in Flutter Entertainment (LON:FLTR) are currently trading +1.56% as of 11:25AM (GMT).