Flutter Considers Applying To Be Listed On The New York Stock Exchange
Flutter’s board of directors has revealed they are thinking about having Flutter listed on the New York Stock Exchange.
Flutter Entertainment is an Irish holding company that was formed from the merger of Paddy Power and Betfair. The company is already listed on the London Stock Exchange and is now hoping to be listed on the New York Stock Exchange. This potentially could be a big blow for the FTSE 100.
Why Listing On The NYSE Is A Good Move
FanDuel has become Flutter’s golden goose it is now generating more revenue than any other brand that Flutter owns. The board believes listing Flutter on the NYSE will add many benefits to FanDuel.
Flutter believes there is further growth potential in the USA and the listing will enhance the ability to recruit more experienced and hard-to-poach staff.
Increasing USA Investment
With the huge amount of revenue DanFuel has produced for Flutter, they are now taking the USA market very seriously. Listing on the New York Stock Exchange the board believes will further increase investment from US companies and potential shareholders in the company.
What Needs To Be Done To Get The Listing?
Flutter will need to take the idea to list on the New York Stock Exchange to its shareholders. The shareholders will then vote yes or no. It is unlikely a no vote will be the outcome and Flutter has stated that if they make the decision to list on the NYSE that this listing would take precedence over smaller listing like FanDuel.
Market Value Of This Move To List
Betting in the states where it is legal in the USA has become a billion-dollar market. With more and more states passing laws to make sports betting legal it makes sense for Flutter to implement and start a strong USA campaign as soon as possible.