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.
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.