Flutter Entertainment: Moving to NYSE and Development Plans
Date: 2024-05-02 Author: Alex Crawford Categories: SPORTS BETTING
At the annual general meeting of Flutter Entertainment shareholders, who supported the move by 98%, it was decided to move the company's main listing to the NYSE. The move is planned for the end of May and the decision reflects the company's growth and the changing dynamics of global markets.
Moving trend
This move reflects the general trend of companies moving their primary listings from London to New York. It was in January that Flutter began trading on the NYSE under the ticker symbol FLUT, following the announcement of a planned listing in December.
Analysts note that this is a key moment for investing in sports betting in the United States. Stocks traded on US exchanges typically command higher prices, and Flutter's move to the NYSE suggests greater access to more investors.
Strengthening positions
Flutter's key goal, in addition to attracting investment, is to strengthen its leadership in the market. Their subsidiary, FanDuel, already has a leading position in the US market, and the move to the NYSE is expected to increase market share and attract new investors.
Optimistic forecasts for 2024
Flutter provided bullish guidance for 2024, expecting double-digit growth in revenue and adjusted EBITDA. The previous year was successful, especially in the US, where FanDuel saw significant revenue growth and new player acquisition.
Dominance in the US market
In 2023, Flutter continued to strengthen its position in the US market, leading to revenue growth and the acquisition of new customers. The gaming revenue market share in the US has grown significantly, highlighting the company's successful strategy in this market.
The move to the NYSE and strong results from the previous year demonstrate the strong growth potential of Flutter Entertainment and its subsidiary FanDuel in the dynamic world of online gaming and sports betting.
