Flutter is contemplating a further US itemizing because the UK betting group seeks to harness the expansion potential of the American playing market.
The FTSE 100-listed Paddy Energy proprietor mentioned its board had reached the view that “a further US itemizing of Flutter’s atypical shares will yield numerous long-term strategic and capital market advantages”.
The group mentioned it intends to begin a session with shareholders on the matter “instantly”. Any settlement on the transfer will take priority over plans to record a stake of its American department FanDuel.
A New York itemizing would allow Flutter to recruit American staff, acquire entry to home US buyers and provides the group larger liquidity in its shares, it mentioned. It might additionally give the corporate the choice to pursue a major US itemizing later.
FanDuel, Flutter’s US enterprise in sports activities betting and on-line casinos that’s turning into its largest unit by income, turned worthwhile final yr.
Income at Flutter’s UK businesses took successful within the first half of final yr after the UK tightened playing laws.
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- UK betting group Flutter considers US itemizing
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