Flutter Entertainment Votes to Shift Primary Listing to New York

At its annual general meeting, a significant 98% of shareholders voted in favor of the move, with the transition expected to be completed by the end of May.

Rationale Behind the Move

This shift is a response to the changing dynamics of Flutter’s business and market orientation.

CEO Peter Jackson noted that the move aligns with the company’s increasing focus on the United States, where over half of its shareholders are based, and its operations, especially through successful subsidiaries like FanDuel, are growing in prominence.

Impact on London’s Financial Market

Flutter’s decision to move its primary listing to New York marks yet another setback for London’s financial market, which has seen a spate of companies shifting their listings away from the UK capital.

The relocation of Flutter and similar moves by other multinational companies highlight a broader trend of aligning corporate strategies with more favorable economic and regulatory environments in the US.

This shift is indicative of the global landscape where businesses are increasingly seeking to capitalize on the financial benefits of US market dynamics, which offer robust trading volumes and a conducive investment climate.