The leading gaming and entertainment company, Flutter Entertainment, announced that its ordinary shares on the New York Stock Exchange (NYSE) will begin trading at 9:30 ET today. Ahead of the planned NYSE listing, last week, the company revealed its plans to exit the Dublin Stock Exchange.

The exit coincides with the listing on NYSE with Flutter confirming that its ordinary shares on Euronext Dublin will cease trading as of 8:00 GMT today. At the same time, the company confirmed that its shares will continue trading on the London Stock Exchange (LSE).

Currently, Flutter’s shares on the LSE trade under the existing ticker “FLTR.” On the other hand, once the company’s shares start trading on the NYSE, they will be using the ticker symbol “FLUT.”

The start of trading on NYSE represents an important moment for Flutter as it anticipates its transition to primary US listing. Ultimately, the listing is expected to generate long-term benefits for the company that will contribute toward its growth in the country.

Flutter’s chief executive, Peter Jackson, highlighted the importance of the NYSE listing for the company, adding that it will deliver long-term benefits. Finally, he pointed out: “We believe a US primary listing is the natural home for Flutter given FanDuel’s #1 position in the US, a market which we expect to contribute the largest proportion of profits in the near future.”

“With our NYSE listing effective today, this is a pivotal moment for the Group as we make Flutter more accessible to US based investors and gain access to deeper capital markets.“

Peter Jackson, chief executive at Flutter Entertainment

Transition to Primary US Listing to Unlock Benefits

In February last year, Flutter acknowledged the potential of a strategic NYSE listing. At the time, the company evaluated that the listing would help grow its US profile and boost the retention and recruitment of US talent. Additionally, the listing would grant Flutter access to new US domestic investors and deeper capital markets. Another significant benefit of the NYSE listing is that Flutter will be able to access different US indices by pursuing a primary listing in the US.

The company indicated strong support for the proposed move after discussions with existing shareholders and US investors. Consequently, Flutter’s Board identified that a transition to NYSE as a primary listing is an “optimal location” for its shares. The aforementioned topic will be up for discussion at the company’s upcoming 2024 AGM scheduled to take place on May 1, 2024. If the transition receives approval of Flutter’s shareholders, it is expected to come into effect in either late Q2 or early Q3 2024.

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A few weeks after naming Owen Parry head of customer engagement, ComeOn Group designated Nicholas Jones as its new head of trading. The new appointee is an industry veteran whose experience in trading will be instrumental in scaling ComeOn Group up.

Jones will join the leading iGaming operator, bringing 30 years of trading experience to the team. Prior to his position as ComeOn’s head of trading, Jones served a variety of other operators, including Openbet, GVC/Bwin, Superbet and Stanleybet.

His trading savvy and iGaming industry experience made him a perfect fit for ComeOn Group, which is currently pursuing further growth. In his new role, the appointee will be responsible for defining and implementing the company’s trading and risk strategy for its new proprietary sportsbook platform.

Jones’ help will be very important to the company because of its desire to accelerate the growth of its sports betting business.

Earlier this year, ComeOn Group also added Sherwin Jarvand as its new chief data officer, strengthening its team with another talented employee.

Jones Is the Right Person for the Job

ComeOn Group’s director of sportsbook, Jonathan West, welcomed the new hire to the company, saying that the team is happy to have him on board.

West explained that the operator is increasingly focused on its in-house sportsbook platform, which is why it sought someone who’s experienced in trading. According to the director, Jones was “certainly that person.”

West praised the appointee’s deep understanding of trading and said that he is perfectly suited to define and execute the company’s risk strategy, as well as complement its team across all of its locations.

As we accelerate our investment in our sportsbook strategy and in-house platform we know that with Nick on board we are in safe hands as we unlock the biggest growth opportunity within sportsbook for the years to come for us.

Jonathan West, director of sportsbook ComeOn Group

Last month, ComeOn Group unveiled a new Nordic-theme lounge, expanding its live casino product line. The studio is called Nordic Ruby Lounge and offers a distinct atmosphere that has been designed to appeal to Nordic fans.

In May, the gambling company also extended its content partnership with Pragmatic Play in the Netherlands. Under the deal, the latter company’s Chroma Blackjack solution went live in the country with ComeOn’s comeon.nl brand.

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Acquisition target PointsBet sent a letter to the Australian Securities Exchange (ASX) this morning to request a trading halt of its stock due to a material announcement.

Disclosure Obligations

PointsBet requested the immediate implementation of a trading halt on its securities listed on the ASX to allow it to manage its continuous disclosure obligations in relation to a material transaction as per ASX Listing Rule 17.1.

The Australian-based sports betting operator is at the center of an acquisition tussle between the sports commercial giant with a huge appetite in the sports betting space, Fanatics, and the second-largest in terms of sports wagering market share in the US, DraftKings.

Last month, Fanatics thought they had wrapped up a $150 million deal to acquire the US assets of PointsBet as both sides agreed to the deal under the terms of which Fanatics would pay $100 million upon transaction close and the rest in February 2024. The nascent sportsbook went live in its second US state, Maryland, in early June.

On June 16, Boston-based sports betting and gaming operator DraftKings tabled a 30% higher bid, $195 million, for PointsBet USA and derailed the agreement between PointsBet and Fanatics. A recent media report also suggested that personal motives dating back to a failed merger deal in 2021 may exist behind the risky bid.

Upon receiving the proposal from DraftKings, PointsBet said its previous agreement with Fanatics was inferior and began looking into the new bid. There is one stumbling block in the proposal as it is subject to DraftKings obtaining regulatory approvals while PointsBet insists on a “hell or high water deal” deal.

Trading Halt for One Day

In its letter to the ASX, PointsBet requested that the trading halt remains in place until the company makes its announcement to the market but no later than the commencement of normal trading on June 28, 2023, meaning that trading with PointsBet stock should be suspended for no more than a trading day.

PointsBet concluded its letter by stating that the company “is not aware of any reason why the trading halt request should not be granted, nor of any other information necessary to inform the market about the trading halt.”

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