Flutter Entertainment has made the decision to halt trading on Ireland’s Euronext Dublin as it prepares for its debut on the New York Stock Exchange (NYSE) in the coming week. The trading halt was officially implemented on January 23rd and Flutter’s shares will be removed from Euronext Dublin on January 29th. The company is aiming to be officially listed on the NYSE on the same day.
Despite the trading halt in Ireland, Flutter’s ordinary shares will continue to trade on the primary market of the London Stock Exchange (LSE), with no impact on trading due to the NYSE listing. The company’s ticker symbol on the LSE is FLTR, while on the NYSE it will be FLUT once the US Securities and Exchange Commission validates its Form 20-F Registration Statement.
The decision to list on the NYSE came after strong growth in the American market, particularly with the success of FanDuel, which has become a major US supplier of igaming and sports wagering since being acquired by Flutter in May 2018. The company presented an update on its trading performance for the year, with 25% annual revenue growth to £9.51 billion for FY23, driven largely by its US operations.
CEO Peter Jackson discussed the company’s plans for further growth in the US during a recent earnings call, outlining a 3-year plan for success in the American market. He highlighted the company’s strategy for FanDuel and expressed confidence in surpassing market expectations in the future.