Flutter Prepares for US Listing, Exits Euronext Dublin

Flutter Entertainment, a prominent player in the global gambling market, has officially ceased trading on Euronext Dublin in Ireland. The company is making this move in preparation for its highly anticipated listing on the New York Stock Exchange (NYSE), scheduled for the 29th of January. This strategic decision aligns with Flutter's broader growth strategy in the United States.

While Flutter exits Euronext Dublin, its ordinary shares will continue to trade on the main market of the London Stock Exchange (LSE). The company's shares on the LSE are identified by the ticker symbol "FLTR," whereas its NYSE ticker has been confirmed as "FLUT." This dual listing will not impact trading on the London Stock Exchange.

Flutter's ordinary shares are poised to debut on the NYSE, pending approval from the US Securities and Exchange Commission (SEC) for its Form 20-F Registration Statement. The company anticipates receiving this approval before the market opens on the 29th of January, marking a significant milestone in its expansion efforts.

Flutter's decision to list on the NYSE was initially proposed in February 2023, aiming to support its expanding operations in the United States, primarily driven by the success of FanDuel. The company has witnessed substantial growth in the US market since acquiring FanDuel in May 2018. FanDuel has evolved into a leading provider of sports betting and online gaming in the US.

In a recent trading update for 2023, Flutter reported remarkable financial results, with group revenue for the 12 months ending on December 31st reaching £9.51 billion ($12.09 billion). This growth was attributed to a 38% increase in revenue from US operations, totaling £3.06 billion. The US market continues to be the primary revenue source for the company.

Flutter CEO Peter Jackson outlined a three-year growth strategy for the US market. Jackson highlighted plans for FanDuel to achieve a competitive edge in the market, emphasizing the company's commitment to success in the US igaming sector.

As Flutter's journey to the NYSE unfolds, investors and industry observers eagerly await its continued success and expansion in the lucrative US gambling market.