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Flutter Entertainment shifts primary listing to NY
Flutter Entertainment said on Friday that it has moved its primary listing venue from the London Stock Exchange to the New York Stock Exchange.
Following its annual meeting on May 1st, the company that owns the Betfair, Paddy Power, and PokerStars brands, among others, announced that an overwhelming majority of investors had authorized the stock’s primary listing’s shift from London to New York.
CEO Peter Jackson said in a statement:
“This closely follows the recent move of our operational headquarters to New York, both reflecting the increasing importance of the US sports betting and iGaming market to our business. We have a fantastic position in the US, with FanDuel the clear number one operator, and we look forward to this next step on our journey.”
Although the gaming equity’s status on the LSE has changed from “premium listing” to “standard listing,” Flutter shares will still trade in London.
As Jackson pointed out, Flutter controls 95% of FanDuel and just relocated its operational headquarters to New York.
FanDuel is one of the biggest producers of online casino games and the biggest online sportsbook operator in the US. Within the Flutter portfolio, which also includes Sisal, MaxBet, Junglee Games, and Adjarabet, that unit is the one that is expanding the fastest. Therefore, the US is the region that contributes to Flutter’s top and bottom lines at the fastest rate, highlighting the need of raising stock awareness in the country.
After the stock had been trading over-the-counter in the US for a considerable amount of time, the primary listing move became official around four months after the shares made their NYSE debut.
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