FanDuel Parent Flutter Prepares To Pull London Stock Listing

FanDuel parent Flutter Entertainment plans to delist from the London Stock Exchange, leaving the Ireland-based company with a single stock listing in New York.

The company said the last day of trading in London will be July 31 with the delisting becoming effective at 8 a.m. local time on Aug. 3.

Flutter shares will continue trading on the New York Stock Exchange under the ticker FLUT. The listing launched in January 2024 with it taking over as the primary listing that May.

Why is Flutter delisting in London?

Flutter said a review of the level of trading activity in its London-listed shares led to the decision.

“As part of the review of its listing structure, Flutter carefully considered, among other things, the level of trading activity for its Shares on the LSE as well as the additional cost, and regulatory and administrative obligations arising from retaining the LSE listing, and concluded that it is in the best interests of Flutter and its shareholders to proceed with the LSE Delisting.”

In addition to owning U.S. online casino and sports betting operator FanDuel, Flutter’s international brands include Paddy Power, Betfair, Sky Betting & Gaming, Sisal and PokerStars.

What does delisting mean for shareholders?

The delisting does not change the number of Flutter shares investors own or the company’s place of incorporation or tax domicile, which will remain in Ireland.

Shareholders who already hold Flutter shares through the U.S. Depository Trust Company system are not expected to be affected.

Flutter’s decision also fits a broader trend of companies shifting attention away from London and toward U.S. markets, where larger investor pools and stronger liquidity can make New York listings more attractive, according to Reuters which described the decision as another blow to London’s financial markets.

Delisting comes amid US focus

Earlier this year, Flutter indicated that it was sharpening its focus on the U.S. market.

In its first-quarter earnings report, the company said U.S. revenue rose 6% year over year to $1.76 billion, with FanDuel holding a 39% gross gaming revenue share in online sports betting and 27% in iGaming during the quarter.

FanDuel has also been expanding beyond traditional sports betting. The company has pushed further into prediction markets through FanDuel Predicts, including expanded event-contract offerings tied to sports and entertainment through a Crypto.com partnership.