TECH - FanDuel Success Drives Flutter To Seek Primary Listing On NYSE | Benzinga
FanDuel parent company Flutter Entertainment Plc (NYSE:FLUT) plans to switch its primary listing from London to New York.
What Happened: Dublin-based Flutter asked shareholders on Monday to vote on May 1 to approve a shift in its primary listing to the U.S.
The goal is to capitalize on its fast-growing U.S. market by attracting new retail investors.
The company, which acquired FanDuel in 2018, is the world’s largest online gambling group by market cap. It already has a secondary listing on the New York Stock Exchange (NYSE), where ordinary shares were listed in January.
FanDuel — part of a portfolio that includes Paddy Power, PokerStars, Sky Betting & Gaming, and Sportsbet and Betfair — is considered the leading online sports betting brand in the U.S.
It surpassed DraftKings Inc (NASDAQ:DKNG) as well as MGM Resorts International (NYSE:MGM) and Entain plc‘s (OTC:GMVHY) BetMGM.
Jackson boasted to the Financial Times about the shareholder vote: “We have FanDuel, and we want to make sure that our customers are able to buy shares in the company that owns their favourite entertainment provider.”
Noting the importance of retail investors in the U.S., he added: “Once they see some reporting in US GAAP, these are the codes ...