Trading of Flutter Entertainment on Euronext Dublin ended on Tuesday as the global gaming company prepares for its IPO on the New York Stock Exchange.
Flutter Entertainment — the parent company of FanDuel, Betfair, PokerStars, Paddy Power, and Sportsbet — will be delisted from the Euronext Dublin on January 29. On that same day, shares of Flutter will debut on the New York Stock Exchange. Flutter will continue to trade on the London Stock Exchange.
In February 2023, Flutter contacted shareholders, explaining the benefits of listing in the United States. At that point, the US had become its largest market, owing to FanDuel’s success. Based on shareholder feedback, Flutter added a US listing resolution to its annual meeting agenda. At the April meeting, 99.9% of shareholders approved a plan for the dual listing of shares in London and the US.
Since the vote, Flutter’s US business has continued to thrive. In its latest trading update, Flutter reported a 26% increase in FanDuel’s profits.
“In the U.S., FanDuel consolidated its sports leadership position during the peak quarter for sporting activity, while FanDuel Casino went from strength to strength. While sports results were very customer friendly, particularly on the NFL in November, the underlying momentum in the business remains very strong heading into 2024.”
Peter Jackson, Flutter CEO
Flutter will maintain its headquarters in Dublin, as the company enjoys the tax advantages of its Irish locale. However, continuing to list on Euronext Dublin, while listing in London and New York, would be costly and complicated from a regulatory perspective.
While this is good news for Flutter and its shareholders, it's a big blow for Euronext, which bought the Irish Stock Exchange in 2017. Last year, the giant cement company CRH was delisted from the Dublin exchange. Before its departure, CRH and Flutter accounted for roughly 38% of Euronext Dublin’s share volume.
Stay updated with the latest picks, odds, and news! Tap the 
to add us to your favorites on Google News to never miss a story.
