Flutter Entertainment will disclose this week that it has won investors’ backing to pursue a US listing, reinforcing City concerns about a prospective exodus of London-listed companies across the Atlantic.
Sky News understands that Flutter, which owns Paddy Power and Betfair, will announce at its annual meeting on Thursday that a requisite majority of shareholders have voted in favour of the move.
City investors said they expected Flutter to eventually abandon its London stock market presence, although this week’s shareholder vote – which needs the approval of 75% or more – is to “implement an additional US listing”.
Sources said they also anticipated that Flutter would announce the appointment of John Bryant, a senior US-based businessman, as its next chairman.
