Flutter considers adding US stock offering
Amid the company’s strong Q3 results, Flutter is considering listing in the United States to further drive growth.
The company published its intentions in a note to shareholders, stating that it has been re-assessing its listing structure for a while.
Flutter’s main rationale for a US listing is the strong performance of its local subsidiaries, namely FanDuel. The firm expects that the American operator will become its largest earner in the near future, with its performance during the third quarter of 2022 further solidifying its estimation.
The firm listed a number of potential benefits the listing would have, with the main one being access to a much larger capital market. A US listing will also enable Flutter to hire American talent, which will help it enhance its presence in the country.
Another major benefit of a US listing is the opportunity to transition to a US-primary model in the future, which will have numerous financial benefits, such as a potential listing in an index fund.
Lastly, Flutter stated that it will conduct an extensive consultation before moving forward with a decision. It also added that if there is prominent stakeholder support for the move, it will take priority over any potential plans of listing FanDuel in the country.