The gambling group that owns Paddy Power and Betfair is to scrap its listing on the London Stock Exchange, in another blow for the UK’s shrinking stock market.
Flutter Entertainment, the world’s largest online betting company, told investors that it would cancel its London shares on 3 August, blaming low levels of trading in the stock and high costs.
The former FTSE 100 business, which is valued at £15bn [$20bn], moved its primary stock market listing from London to New York in 2024, after growth in its US FanDuel operation and as several states loosened online betting restrictions.
Flutter told shareholders in May that it would review its position in London.
