Flutter Entertainment Mulls US Listing For Its Shares

Must read

[ad_1]

Posted on: February 14, 2023, 02:31h. 

Last updated on: February 14, 2023, 03:05h.

Global gaming giant Flutter Entertainment (OTC: PDYPY) is considering listing its shares in New York as the company’s US business thrives.

Flutter US Listing
The Flutter logo as seen in an investor deck. The company is considering listing its shares in the US. (Image: Flutter Entertainment)

Dublin-based Flutter owns 95% of FanDuel, the largest online sportsbook in the US. In a statement issued by its investor relations department on Tuesday, Flutter highlighted the increasing importance of FanDuel and the potential benefits of listing in the US.

This trend is expected to continue, with FanDuel becoming the Group’s largest business by revenue and an ever-greater proportion of its overall value,” according to the statement. “In this context, the Board has reached a preliminary view that an additional US listing of Flutter’s ordinary shares will yield a number of long-term strategic and capital market benefits.”

Flutter shares currently trade in the US but on an over-the-counter basis, meaning the audience of both professional and retail investors in the states engaged with the stock isn’t as large as it would be if the name traded on the Nasdaq or the New York Stock Exchange (NYSE).

In the statement, Flutter doesn’t mention a preferred US listing venue.

Benefits Galore for Flutter in US Listing

Currently, the Betfair, Sky Bet, and Paddy Power owner is a member of the FTSE 100 Index, which is the most widely observed gauge of UK stocks, and is one of the biggest components in the MSCI All Capped Ireland Index.

Impressive points, to be sure, but both lack the advantages and cache of listing in the US. As mentioned in the statement, Flutter’s board believes by listing its shares in the US, the operator will boost its profile in this country, enhance the stock’s overall liquidity, and be better able to attract top-tier US staffers.

There are other clear benefits to a US listing. In addition to broadening its investor base by trading on the Nasdaq or NYSE, Flutter would gain more access to deeper capital markets. Translation: a US share listing would enable the gaming company to sell shares more easily for cash or tap debt markets if need be.

Plus, if the company eventually shifts its primary listing to the US — a point mentioned in the statement — that move could position it for inclusion in various widely followed equity indexes. Should that happen, Flutter stock would be more widely held by active and passive fund managers that benchmark to the gauges in which the shares are included.

Flutter US Listing Could Affect FanDuel Spinoff

While it’s clear that FanDuel is an increasingly valuable piece of the broader Flutter puzzle, the Irish company made clear that its US listing plan will take priority over a potential spinoff of FanDuel.

The Group (board) expects to start this consultation immediately. In the event that there is broad shareholder support for an additional US listing, this would take precedence over any plans to list a small shareholding in FanDuel,” as noted in the statement.

Rumors regarding such a transaction are long-running, but with FanDuel’s revenue forecast to grow by up to 500% in the coming years, that unit is likely to become the biggest contributor to Flutter’s top line. That could be a sign Flutter would be reluctant to part ways with FanDuel.

[ad_2]

Source link

More articles

- Advertisement -spot_img

Latest article

kemampuan spesial putaran ajaib slot mahjong ways 1 langsung cuan maksimalteknik keramat slot mahjong ways 2 auto turun scatter berlimpahslot jackpot unlimited paling di cari memberslot sugar rush 1000 mudah jackpot besartrik menangkan jackpot pakai strategi inirahasia mengalahkan mesin slot onlinertp dan volatilitas slot pragmatic gates of olympus hari inicara kerja fitur free spin pada slot gates of olympusakun vip mesin slot kakek zeus mudah dapat x500 tiap spincara menang slot sensasional hanya modal receh khusus slot olympusslot unlimited scatter tanpa batas game slot olympus 1000 terbarulink slot gacor terbaru saat inislot demo x500 mesin slot gate of gatotkaca hokiakun pro server jepang jaminan sensa slot olympus x500slot pasti menang dijamin perkalian besar pasti muncul gacor bangetslot anti kalah prediksi admin indra kenzrahasia bocoran dari ahli slot starlight princessstrategi meraih kemenangan besar sweet bonanza x100mengenal simbol penting pada slot gates of olympusfitur multiplikator dari slot gates of olympus yang harus kamu taucara jitu melipat gandakan kemenangan bermain slot onlineslot mahjong ways 2 scatter hitam membararahasia mengalahkan kunci admin mesin slot olympuspanduan lengkap cara mudah jp slot mahjong waysslot maxwin pasti jackpotpola hoki slot super mahjong ways 2 jaminan maxwin sekali spintrik ledakan bom besar x100 sweet bonanzacara mudah munculkan fitur slot scatter hitam kemenangan maksimalcara jitu mengalahkan bandar judi online dengan main slot pragmatic playsistem kemenangan besar 100 juta main slot mahjong ways banjir wild terbanyakcara menjadi sultan dalam sekejap bermain slot mahjong ways2rahasia gacor link maxwin terbaru pgsoftmain slot online dengan pola hoki dijamin maxwinslot mahjong lagi bagi bagi jackpot tanpa batas hanya butuh modal recehkunci kemenangan slot mahjong waysrahasia jam gacor gampang jackpot slot mahjong pandakumpulan slot gacor terbaru 2024sistem spin ajaib slot mahjong ways 1 gampang kasi kemenangan instantcheat gacor slot onlineslot scatter hitam menggila langsung menang 100 jutaslot rave party fever menang maxwin dengan trik bocoran ampuhpola jitu main ikan gampang menang slot koi gate habanerodaftar slot paling jitu memberikan kemenangan kepada member barubocoran pola sakti slot gates of olympuscara mendapatkan perkalian tidak wajar slot mahjong waysbocoran terbaru ahli bermain slot onlinealasan mengapa slot pragmatic gates of olympus begitu populerbocoran pola slot gates of olympus yang pasti slot hokibermain slot pragmatic gates of olympus dengan modal minimtrik main slot jackpot modal recehbocoran akurat sekali spin slot mahjong ways superbanjir kemenangan konsisten slot mahjong tanpa ampun kasi jackpotcara terbaik memaksimalkan kemenangan bermain slot mahjong ways 2admin putri bagi bagi akun sakti khusus slot pragmatic playpenemuan jam hoki slot gacorcara bermain slot gacor dengan langkah ajaib dari admin stevenulasan mendalam starlight princess x1000 menurut para ahliperbandingan slot starlight princess dengan slot lainnya di tahun 2024keistimewaan akun vip di slot online server thailandstrategi terbaik untuk menang di slot starlight princess dari pragmatic playfakta bocoran pola scatter dari negeri para princessgrebek situs pola gacor zeus untuk turunkan scatterketimpa scatter x1000 membuat bandar mahjong ways gulung tikarkumpulan naga hitam memecahkan pola gacor di mahjong wayslari bersama kakek zeus mengejar maxwin x1000mandi jackpot bareng di situs gacor anti rungkad bonanzapeluang kemudahan mencuri pola kakek merah zeusspenjual rujak memberi pola buah untuk mendapatkan jackpot di bonanzaresiko jadi admin slot dapat memecahkan pola gacor mahjong ways2seorang pria muda di temukan sukses berkat pola gacor princessnya