Flutter Entertainment Begins NYSE Trading, Plans US Primary Listing

The move is seen as a strategy to capitalize on the booming US online sports betting market, with FanDuel holding a leading position.

Flutter Entertainment, the owner of FanDuel, has started trading on the New York Stock Exchange (NYSE) as part of a secondary listing, with plans to switch its primary listing from London to the US.
The company's CEO, Peter Jackson, stated that the US is the 'natural home' for Flutter shares, given FanDuel's leading position in the US market.
Flutter's shares fell by 2% on the announcement, but are still up about 25% since the initial announcement of plans to list in the US.
Flutter's decision to list on the NYSE is seen as a move to capitalize on the booming online sports betting market in the US, which is estimated to be worth more than $37 billion.
Flutter will propose the move to a US primary listing at its annual general meeting in May, with the transition expected to be completed by the end of the second quarter or start of the third.