Betting on U.S. market, FanDuel’s Irish parent Flutter debuts on NYSE; could move primary listing from London

Betting on U.S. market, FanDuel’s Irish parent Flutter debuts on NYSE; could move primary listing from London

Article brief provided by Front Office Sports
  • Eric Fisher, Front Office Sports
January 29, 2024 9:06 PM
  • Eric Fisher, Front Office Sports
  • United States
  • Ireland
  • United Kingdom

American investors now have a direct way to invest in the market share leader in sports betting, setting up yet another market battle between FanDuel and DraftKings.

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Shares in FanDuel parent Flutter Entertainment began trading Monday on the New York Stock Exchange, as scheduled, and closed the first day of trading up 0.24%, retreating from gains earlier in the day, at $205.50.

Beyond the continued status as the industry’s largest operator, the Ireland-based Flutter recently said that its full-year 2023 revenue rose by 25% to $12.1 billion, and that it captured 43% of gross U.S. sports betting revenue in the critical October-December period, a stretch that included the heart of the NFL and college football seasons, MLB playoffs, and start of the current NBA and NHL seasons.