Flutter shareholders back move of primary listing from London to New York
The industry giant delisted from the Irish Stock Exchange back in January.
Flutter Entertainment’s move of its primary listing from the London Stock Exchange (LSE) to the New York Stock Exchange (NYSE) has been backed by shareholders.
The operator held its AGM in Dublin this morning and according to numerous reports saw shareholders overwhelmingly voting in favour of the move.
Back in January, Flutter announced that its shares would be delisted from the Irish stock exchange, Euronext Dublin, as it looked to have only two listings, in New York and London, to streamline operations and minimise regulatory complexities.
The move of the primary listing from London to New York is set to be completed by the end of May after it received the majority backing of shareholders.
Despite keeping its secondary listing on the LSE, where its shares will continue to be traded, it will now be removed from London’s FTSE indices.
Last week, Flutter announced its financial results for the fiscal year ended 31 December 2023, reporting a revenue increase of 24.6%.
What was most interesting to note from the report was that growth in the US played a big part in the jump in revenue, with FanDuel’s market leadership driving a 40.7% rise in revenue.
Also, the first 11 weeks of 2024 saw continued growth in revenue with this mainly being pushed by a 55.6% increase in US revenue.
In other financial news, the Gambling Commission has released figures for the fourth quarter of the latest financial year highlighting a 5% increase in online total Gross Gambling Yield (GGY).
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