24th Mar 2023 14:47
(Alliance News) - Flutter Entertainment PLC said on Friday it will put forward a forward resolution for an additional US listing.
Flutter is a Dublin-based company which operates gambling brands such as Sky Bet and Paddy Power. It said the resolution requires the approval of 75% of votes cast by Flutter shareholders, which will be decided at its annual general meeting next month.
If approved, Flutter said it will aim to implement the additional US listing during the final quarter of 2023.
This announcement comes after Flutter said last month it was considering an additional US listing amid the growing success of its US-based sports betting company, FanDuel. Flutter had said that FanDuel is the "number one" sports betting operator in the US, with a 42% share of the online market. In 2021, FanDuel sportsbook and gaming business delivered a positive contribution of USD14 million, while overall in 2021 Flutter posted a pretax loss of GBP288.4 million.
Besides being listed on the Main Market of the London Stock Exchange, where it is a FTSE 100 constituent, Flutter already is traded on the New York-based over-the-counter market.
Flutter shares were down 1.7% at 13,970.00 pence in London on Friday afternoon.
By Sabrina Penty; Alliance News reporter
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