Flutter Entertainment moved closer to a U.S. listing on Thursday.
The Ireland-based parent company of one of the biggest online sports betting sites, FanDuel, received 99.9% votes from shareholders at the company’s Annual General Meeting to pursue a listing on either the New York Stock Exchange or NASDAQ.
Flutter, which is already listed on the London Stock Exchange, has 50% of the legal sports betting market share in the U.S. Along with owning 95% of FanDuel, Flutter also controls FOX Bet and Betfair.
Taking America by storm
It only makes sense for Flutter to move into an American stock exchange.
As more states add legal sports betting, the U.S. has become Flutter’s largest market. Its monthly average number of players went up 26% from 8.1 million in 2021 to 10.2 million in 2022.
Revenue has also gone up 27% year-over-year to $8.48 billion.
“I am extremely proud of what we have achieved in 2022,” Flutter U.S. CEO Amy Howe said. “We became the first U.S. operator to become profitable, delivering $22 million in EBITDA in Q2 2022. We’re No. 1 in 15 states and our compounding growth will deliver full-year profitability in 2023.”
New face on the block
Because of its continuing growth in the U.S. market, Flutter also announced at its AGM that the company has appointed John Bryant as Non-Executive Director and Chair Designate.
Bryant previously served as CEO of Kellog Company and is a NED for Ball Corporation, Compass Group PLC, and Coca-Cola European Partners plc.
Bryant replaces outgoing Chair Designate Gary McCann in September.
“We are delighted to announce John’s appointment as Chair. John has had a stellar career in Kellogg Company, one of the most internationally renowned companies in the world,” McCann said. “He brings with him an enormous wealth of leadership experience in strategic, financial, and operational matters.”
