Flutter Entertainment Transitions Primary Listing Venue from London to New York Amid Flourishing U.S. iGaming Market


Flutter Entertainment, the parent company of noteworthy brands such as Betfair, Paddy Power, and PokerStars, among others, has successfully made its move from London to New York, transporting its primary listing venue from London Stock Exchange (LSE) to the New York Stock Exchange (NYSE). The strategic decision, part of the company’s aim to reinforce its presence within the flourishing U.S. iGaming and sports betting market, has been officially implemented as of May 31.

This transition has been building anticipation in the corporate world. Flutter Entertainment initially communicated this proposed move to stakeholders at its annual meeting on May 1, garnering an overwhelming approval from investors. This makes perfect sense, considering the company had recently shifted its operational headquarters to New York. And now, with Flutter’s stock primarily listed in the New York Stock Exchange, the company’s heavyweight position in the U.S. comes to full fruition.

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CEO Peter Jackson offered an uplifting statement, acknowledging the move as reflective of the company’s growing dependence on the U.S. sports betting and iGaming market. Chef Jackson further reaffirmed Flutter’s dominant stance in the U.S., highlighting the golden laurel of FanDuel’s flawless success as a testament to their leading spot as an operator. Indeed, the road ahead seems promising for Flutter.

Although Flutter shares will continue to be traded in London, the gaming conglomerate’s stance within the LSE has been demoted to a “standard listing” from its previous “premium listing.”

The implications of this move extend beyond a change in listing venue. By moving its primary listing to the New York Stock Exchange, Flutter is conveniently positioned to capitalize on the progressive U.S. market, especially with FanDuel sporting the laurel as the largest online sportsbook operator in the U.S. This triumph is one of many accomplishments in the Flutter portfolio, which also boasts brands such as Sisal, MaxBet, Junglee Games, and Adjarabet. It is evident that the U.S. market is rapidly becoming the most influential contributor to Flutter’s business, justifying the move and signaling a prosperous future ahead.

An added perk for foreign conglomerates such as Flutter lies in the possibility of being included in the U.S. equity benchmarks like the S&P 500. Flutter’s market cap and profitability metrics already fit the bill for inclusion in a few prominent domestic equity indexes, should the transition to the Big Apple be successful.

When Flutter first flirted with the notion of listing in New York last year, transparency was key. The company made it known that gaining more exposure for its stock was a significant motivator behind the move. To that end, Flutter’s efforts seem to be paying off. The data from the first-quarter Form 13F filing season paints a preliminary success story. It indicates that several U.S.-based professional investors have added stakes in Flutter since it shifted its primary listing to the NYSE.

By expanding its sphere of influence to New York, Flutter has not only broadened its investment audience but also likely heightened the value of its shares. Additionally, it has likely amplified its access to capital, positioning it advantageously for potential future needs. The company’s latest move is more than a change of address—it signifies a tactical decision that might just change the game for Flutter.