Flutter is contemplating a further US itemizing because the UK betting group seeks to harness the expansion potential of the American playing market.
The FTSE 100-listed Paddy Energy proprietor stated its board had reached the view that “a further US itemizing of Flutter’s strange shares will yield numerous long-term strategic and capital market advantages”.
The group stated it intends to begin a session with shareholders on the matter “instantly”. Any settlement on the transfer will take priority over plans to listing a stake of its American department FanDuel.
A New York itemizing would allow Flutter to recruit American staff, acquire entry to home US buyers and provides the group higher liquidity in its shares, it stated. It will additionally give the corporate the choice to pursue a main US itemizing later.
FanDuel, Flutter’s US enterprise in sports activities betting and on-line casinos that’s changing into its largest unit by income, turned worthwhile final 12 months.
Income at Flutter’s UK businesses took a success within the first half of final 12 months after the UK tightened playing rules.
