Flutter considers listing on the New York Stock Exchange

Flutter’s Board of Directors has revealed the group is thinking about listing the business on the New York Stock Exchange.

nyc_stock
Listen To Article

One of the reasons behind the considerations is the importance of FanDuel to the brand, which now generates more revenue than any other for Flutter. Furthermore, the Board believes the decision to list will add further benefits to the long-term strategy of the company.

The Board lists the reasons as: ‘enhancing the group’s profile in the US; better enabling the recruitment and retention of US talent; giving the group access to much deeper capital markets, and to new US domestic investors; providing greater overall liquidity in Flutter shares; and the optionality to pursue, as a second step, a primary US listing – one of the criteria for access to important US indices.’

However, despite the thinking, the Board will still have to consult the shareholders – which it says it intends to do ‘extensively’ and ‘immediately.’

Flutter also stated that ‘in the event that there is broad shareholder support for an additional US listing, this would take precedence over any plans to list a small shareholding in FanDuel.’

Earlier this year, Flutter International CEO Dan Taylor spoke exclusively to Gambling Insider about his rise through the ranks at Paddy Power Betfair, his directorial experiences at digital media firms and how his current role isn’t too far afield from his dream job as a child.

Meanwhile, Flutter also announced revenue of £1.89bn ($2.18bn) for the third quarter of 2022, a 31% increase from the prior-year period.

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Agency
Executive Profiles
Wynn Resorts
Table Trac/CasinoTrac
Grosvenor Casinos, The Rank Group
Fertitta Entertainment
Scientific Games

Facing Facts: Looking back on how Asian operators fared in Q4 2022

Gambling Insider takes a closer look at various facts and fi...

GBGC Data: How betting has changed in the US and Europe over the years

Global Betting & Gaming Consultants (GBGC), the global gamin...

Taking Stock: How did Asian operators share prices fare over the last six months?

MGM China, Melco Resorts & Entertainment, Sands China and Wy...

AI in the gambling industry: Evolving or deskilling?

With expert industry insight from suppliers OPTX and Sportra...

Read Magazine