Flutter is Strongly Considering a US Stock Market Listing
Flutter Entertainment is strongly considering a US stock exchange listing as its FanDuel business continues to grow. [Image: Shutterstock.com]
Flutter Entertainment is getting closer to a listing on a US stock exchange. The gambling group announced on Tuesday that it is seriously considering such a move amid the success of the company’s US-focused FanDuel business.
FanDuel is the dominant operator of sportsbooks in the US
FanDuel is on track to be Flutter’s biggest business by revenue as it continues to be a major player in the US daily fantasy sports, iGaming, and sports betting markets. Flutter stated in November that FanDuel is the dominant operator of sportsbooks in the US, holding a 41% share of the market.
Flutter believes that having a US listing would “yield a number of long-term strategic and capital market benefits.” Some of these benefits would include boosting its US profile, better recruitment and retention of talent, and access to deeper capital markets and new domestic investors in the US.
Flutter plans to consult with shareholders before deciding whether to proceed with a formal resolution. If shareholders sufficiently support the proposal, this move would take precedence over any plan to list a small number of FanDuel shares.