As of January 29, Flutter Entertainment starts off trading on the NYSE or the New York Stock Exchange in the United States, with its shares.
The launching on the NYSE signals the end of Flutter’s listing on Euronext Dublin. Last week, the group stopped trading their shares on the Irish exchange ahead of the New York listing. This was connected with the US listing plans set out last December.
However, Flutter will still continue to trade on the LSE or the London Stock Exchange. The group will remain its extra charge listing on the London exchange. They will also continue to trade under the FLTR ticket symbol.
Peter Jackson is the CEO of Flutter. According to him, with their NYSE listing effective today, this is a pivotal moment for the group as they make Flutter more accessible to US-based investors and gain access to deeper capital markets.
Flutter has reported a notable growth within the United States in the past years because of the success of FanDuel. While the brand was still a daily fantasy sports operator ever since its obtainment in 2018, FanDuel has grown to become a major US provider of sports betting and iGaming.
In addition to the launch of NYSE, Flutter is eyeing to make a move to a primary listing in New York. This would match with the proposals set out this time, last year. Flutter board says a primary listing would unlock a long-term strategic and capital market benefits.
According to Flutter, these include a greater profile in the United States and allows for better recruitment and retention of US talent. Aside from this, other potential benefits highlighted are access to deeper capital markets and new domestic investors.
Moreover, Flutter said a primary listing on the NYSE would also provide greater overall liquidity in its shares.