Flutter Entertainment (FLTR.L) decided to delist its shares from the London Stock Exchange, leaving the New York Stock Exchange as its sole primary trading venue.
The online betting giant, which owns FanDuel, Paddy Power, Betfair and Sky Bet, announced Friday that it has initiated the regulatory approval process for the delisting, which is expected to take effect Aug. 3.
Flutter moved its primary listing to New York in May 2024 after relocating its operational headquarters to the city. At the time, Chief Executive Peter Jackson described the move as “an important milestone in the evolution of Flutter,” 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,” Jackson added at the time.
The company initiated the review regarding its London listing in May this year. According to the latest disclosure, the delisting decision was driven by several factors, including trading volumes in its UK-listed shares and the additional costs associated with maintaining the listing.
Flutter “concluded that it is in the best interests of the company and its shareholders to proceed with the LSE delisting.”
Shares in the company were slightly lower during early Friday trading in London.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source uk.finance.yahoo.com ’
