SBC News Voice of the Sports Betting Industry
As of this morning (24 January 2024), Flutter Entertainment Plc has declared that it has ceased trading of its ordinary shares on the Dublin Euronext Exchange.
On Tuesday, 23 January, Flutter concluded its final day of trading on the Dublin Euronext, as the global gambling group prepares to list on the New York Stock Exchange (NYSE) on Monday, 29 January.
Flutter will proceed to dual-list its shares on the NYSE, as authorized by shareholders at the firm’s annual general meeting (AGM), alongside its primary shareholding on the London Stock Exchange (LSE) as a FTSE100 company.
Proceeding with the NYSE listing, Flutter has been assigned the ticker symbol ‘FLUT’. The listing remains subject to the final approval of Flutter’s Form 20-F Registration Statement by the Securities and Exchange Commission (SEC), as the final step of the NYSE listing process.
The Dublin Euronext will officially delist Flutter from its exchange on Monday (8 am GMT), 29 January 2024. The firm’s ordinary shares will continue trading on the Main Market of the LSE under the ticker symbol ‘FLTR’.
Ahead of its NYSE listing, Flutter published its pre-close 2023 trading update, reporting a 25% year-on-year increase in group revenue for the financial year 2023, totaling £9.5 billion – of which £3.3 billion (38%) was generated by its FanDuel US subsidiary.
As stated to investors, the secondary listing on the NYSE will expand Flutter’s shareholding to US capital markets, supporting the firm’s expansion strategy in North America and new markets, where Flutter seeks to become the global gambling industry’s highest-valued PLC.
Last September, Flutter welcomed US executive John Bryant, the former President of Kellogg Company, as its new Chairman, succeeding Gary McGann, the incumbent who has led Flutter’s board since 2015.
The Dublin Euronext had traded the firm’s shares since 2001, as the home market exchange of Paddy Power Plc.
A listing on the Dublin exchange had been maintained following the merger of Paddy Power and Betfair in 2016, and the merger of Paddy Power Betfair with The Stars Group Inc in 2018 – the deal which subsequently formed Flutter Entertainment.
