Flutter Entertainment has announced that it is consulting its shareholders about a possible additional US listing to support the growth of FanDuel in the region.
In a statement, the London-listed company’s board said that it is evaluating its listing structure in the US following a capital markets day in November last year, which highlighted “the growing importance of FanDuel to the group as a whole.”
Flutter added that it expects FanDuel to become its “largest business by revenue and an ever-greater proportion of its overall value,” so additional listing in the US is being explored.
“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,” the company said in a statement.
Flutter noted that it believes the benefits of the additional listing would include enhancing its US profile, further enabling US talent recruitment and retention, deeper access to capital markets and new domestic investors, greater overall share liquidity, and the possibility of pursuing a primary US listing in the future.
The company added that the shareholder consultation would take place immediately, with its results to be announced in due course. It would also take precedence over any plans to list a small shareholding in FanDuel if there is broad support for it.
