Flutter Entertainment, the Dublin-based betting company, has announced its intention to propose moving its primary share listing from London to New York. The proposal will be presented at the annual general meeting in May, and if approved by shareholders, the transition is expected to take effect in the late second quarter or early third quarter. Flutter Entertainment’s shares debuted on the New York Stock Exchange, and its secondary Dublin listing has been canceled.
The move is driven by the belief that a US primary listing is more suitable given the prominence of Fanduel in the US market. CEO Peter Jackson stated, “We believe a US primary listing is the natural home for Flutter given Fanduel’s number one position in the US, a market which we expect to contribute the largest proportion of profits in the near future.”
Flutter Entertainment, the parent company of Paddy Power, Betfair, and Sportsbet, has officially started trading on the New York Stock Exchange (NYSE). The company had previously announced its intention to move its primary share listing from London to New York, with the proposal expected to be presented at the annual general meeting in May.
The transition, subject to shareholder approval, is anticipated to take effect in the late second quarter or early third quarter. Flutter Entertainment’s CEO, Peter Jackson, highlighted the significance of the move, stating that it marks a pivotal moment for the group and makes Flutter more accessible to US-based investors. The decision is influenced by Fanduel’s leading position in the US market, which is expected to contribute the largest proportion of profits in the near future.