Flutter Entertainment Officially Trading on New York Stock Exchange

Flutter Entertainment, the parent company of FanDuel, made its debut on the New York Stock Exchange on Monday. FanDuel is among our top sports betting websites.

After months of effort, we successfully introduced the Flutter and FanDuel brands to a fresh group of American investors, many of whom have substantial financial resources.

Flutter CEO Peter Jackson stated, “Today marks a crucial moment for our group with the NYSE listing becoming effective. This will make Flutter more accessible to US-based investors and provide us with access to deeper capital markets.”

Flutter was removed from Euronext Dublin to prevent any potential regulatory complications in the future. The company will continue to trade on the London Stock Exchange.

Flutter began trading on the New York Stock Exchange on Monday at 9:30 ET with the ticker symbol FLUT. The stock debuted at $212 US.

Seizing on massive American market

The American sports betting industry has rapidly become the most successful in the world, with Flutter Entertainment’s FanDuel leading the way. It is projected to reach $15.75 billion by 2028.

FanDuel had an impressive 51% market share in the U.S. and accounted for 43% of the gross revenues generated on the platform during Flutter’s Q4 earnings report a few weeks ago.

With a strong foothold in the U.S. market, FanDuel is a prime target for investors seeking to diversify their portfolios with a sports wagering component. Bettors can maximize their experience with our exclusive FanDuel promo code.

Moving its primary listing?

Flutter Entertainment appears to be solidifying its dedication to the American market by considering making the NYSE its main listing.

Currently, London is the main stock exchange where the company is listed. However, in order to attract more American investors, particularly those interested in FanDuel, the company is considering increasing its presence on the NYSE.

This move is expected to support the company’s ambitious growth strategy in the U.S., enhance customer retention and recruitment efforts, and aid in attracting investment from U.S.-based investors.

Investors appear to desire a primary listing move, as indicated by management’s discussions with them. The company views the U.S. market as the most promising opportunity to increase its share price on a global scale.

Flutter stated that since February 2023, management has been actively communicating with US investors, both current and prospective, as well as existing shareholders worldwide. The feedback received has been overwhelmingly supportive of relocating Flutter’s primary listing to the US. Therefore, the board has decided that the NYSE is the best location for Flutter’s primary listing and that the transition should occur promptly.

2023’s company numbers

In Q4, Flutter Entertainment reported a total global revenue of $2.8 billion, marking an 11% year-over-year growth. Out of this, global sports betting entities accounted for $1.7 billion. Online casinos under Flutter contributed $1.1 billion to the company’s revenue in 2023, showing a 15% increase from the previous year.

In the Q4 report of the company, it was stated that FanDuel accounted for 35% of the company’s revenues. Flutter’s U.S. division generated $1.4 billion in revenue during the quarter. FanDuel’s monthly player count increased by 33%, and FanDuel’s revenue grew by 26% compared to the previous year.