Flutter Entertainment, the operator of FanDuel, has spent significant time preparing for this strategic move as it pivots its attention to the lucrative US market. The global gambling giant will maintain its listing on the London Stock Exchange, signifying its ongoing commitment to maintaining a presence in its core jurisdictions. However, the move to the NYSE heralds a new era for the company and should open significant growth opportunities.

The NYSE Listing Is Just a Few Steps Away

Flutter confirmed that its shares will be delisted from the Irish stock exchange as it prepares for the final step required for the US exchange listing, the migration of the settlement system of its shares from Euroclear Bank to the Depository Trust Company. This move has the full approval of shareholders and should be finalized by 6 am GMT on 29 January.

The decision to suspend trading on Euronext Dublin on 24 January aims to facilitate the settlement of pending trades and repositioning instructions ahead of the NYSE listing. This strategic move also aims to minimize regulatory complexities by retaining only two listings – one on the LSE and the other on the NYSE.

Flutter Entertainment shares will remain available on the London Stock Exchange (LSE) under the FLTR ticker symbol. For its NYSE listing, the company will use the symbol FLUT. The move to dual-listing is part of Flutter’s strategy to maximize its presence in the US market, which is responsible for an ever-growing share of its profits.

The Company Remains Focused on the US Market

Flutter’s decision to gradually shift its focus away from Europe comes amidst a series of setbacks on the Old Continent, primarily due to rising regulatory uncertainties. Meanwhile, Flutter’s preliminary Q4 2023 financial results highlighted its robust position in the US market, reporting a 43% share of the country’s sports betting market and a 26% share of the iGaming market. 

Flutter Entertainment CEO Peter Jackson outlined a three-year strategy for success in the US in a recent earnings call. FanDuel, Flutter’s US-facing brand, is ranked as the number one sports betting and number two online casino operator in the US and is uniquely positioned to capitalize on the growing number of jurisdictions offering regulated online gambling.

“The business is in a good place. We’ve got a great product and great momentum to exit the year in the States.”

Peter Jackson, Flutter Entertainment CEO

Investors and industry observers are keenly watching Flutter’s moves as it positions itself for success in the dynamic US gaming landscape. This move to dual-listing is a strategic step to enhance Flutter’s North American profile, recruit and retain US talent, and tap into deeper capital markets, seeking growth opportunities in the expanding American market.

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Earlier in the week, the leading online sports betting and gaming company that operates some of the most innovative, versatile, and easily distinguishable brands, Flutter Entertainment, announced that its UK and Ireland division had committed up to £8 million ($10 million) to charitable initiatives in 2023. 

The gambling conglomerate also took the opportunity to announce upcoming funding campaigns in the books for its three main three brands, Paddy Power, Sky Betting & Gaming, and Betfair. 

During a Bloomberg podcast, Flutter’s chief executive operator, Peter Jackson, emphasized the company’s effective strategy and excellent capacity to branch out into new verticals while discussing FanDuel’s development and further plans aimed at the US market.

Now, the company that is determined to streamline its operations and minimize regulatory complexities has announced that it will only maintain two stock exchange listings. Here is a quick breakdown of the fresh information. 

Flutter to Cancel Its Euronext Dublin Listing by January 23, 2024

According to the latest news which follows the previous November announcement, Flutter’s ordinary shares will stop being traded on Euronext Dublin on January 23, 2024. After that, a trading suspension will be implemented to allow the settlement of all pending trades.

The impending delisting from the Dublin stock exchange will also translate to Flutter’s removal from the Eurostoxx index by Stoxx, which will go into effect starting December 18, 2023.

This does not, however, mean that Flutter’s premium listing on the London Stock Exchange will suffer. The same goes for the company’s inclusion in the FTSE 100 index.

In other words, Flutter Entertainment’s shares will keep being traded on the London Stock Exchange under the ticker symbol FLTR. 

Getting Ready for the NYSE Listing

While preparing to bid farewell to the Dublin stock exchange, Flutter is also getting ready to list its ordinary shares on the New York Stock Exchange (NYSE) by January 29, 2024.

This is a strategic decision that perfectly blends into Flutter’s plans to optimize its operations while capitalizing on the strengths of the NYSE market and still holding on to its presence in the UK market.

The NYSE listing is currently waiting for the US Securities and Exchange Commission’s ruling over the Form 20-F Registration Statement submitted by Flutter. 

Once it receives the green light for the NYSE, the company will trade under the symbol FLUT. On January 18, 2024, Flutter will also introduce a brief trading update for the three months ending December 21, as well as the full year 2023. 

The full-year results for the 12 months ending December 31, 2023, will be published under US GAAP on March 26, 2024.

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