Flutter Eyes New York Stock Exchange Listing While Retaining London Presence

As reported by The Guardian, this move is anticipated to occur on 29 January, marking a new chapter in the company’s global expansion. However, in a strategic decision to maintain a strong foothold in the UK market, Flutter will retain its premium listing in London.

Details of the Planned NYSE Listing

Previously known as Paddy Power Betfair, Flutter is aiming for a secondary listing in the US, with potential plans to pursue a primary listing there in the future.

This decision underscores the company’s growing focus on the American market, which is expected to account for almost 40% of its revenues this year.

Flutter’s premium listing on the London Stock Exchange and its inclusion in the FTSE 100 index will remain unaffected by the US listing.

The company’s shares will continue to be traded on the LSE under the ticker symbol ‘FLTR’, while post-listing in the US, they will also be available on the NYSE under the ticker symbol ‘FLUT’.

Operational Shifts and Regulatory Simplification

As part of this strategic shift, Flutter has also decided to cancel its secondary listing in Dublin, as reported to Euronext.

The company believes that maintaining just two listings, in London and New York, will minimize regulatory complexities. In response, the European Stoxx has planned to remove Flutter from its index from 18 December.

Over the past two years, Flutter has been actively expanding its business portfolio. It acquired the Milan-based online gaming group Sisal from CVC Capital Partners for £1.62bn, which also operates a large chain of betting shops and regulated lotteries in Italy, Morocco, and Turkey.

This acquisition played a crucial role in Flutter’s attempt to take over the UK’s national lottery from Camelot, although the license was eventually awarded to Allwyn.

Our Comment on the Article

Flutter’s decision to list on the New York Stock Exchange while retaining its premium listing in London reflects a strategic balance between expanding its global reach and maintaining a strong base in its established markets.

This move is a testament to Flutter’s growth ambitions and its recognition of the burgeoning potential in the US market. By simplifying its regulatory framework and focusing on key markets, Flutter is positioning itself for more streamlined operations and enhanced global influence.

The company’s recent acquisitions and attempts to expand its portfolio, including the bid for the UK’s national lottery, highlight its proactive approach in the competitive world of iGaming and sports betting. This expansion strategy, encompassing both geographical spread and diversification of offerings, sets Flutter on a path of continued growth and industry leadership.