When Peter Jackson, the chief executive of Flutter Entertainment, unveiled plans to shift the gambling giant’s main stock market listing from London to New York in 2024, few in the City were surprised.
Though best known as the owner of Paddy Power and Sky Bet in Britain, the US was quickly becoming its most promising market thanks to a historic loosening of sports betting laws.
Two years on, things have not gone entirely to plan. FanDuel, Flutter’s massive US sports betting brand, ended 2025 “with a smaller customer base than anticipated” and has been spending heavily to hang onto its customers. Revenue and profit forecasts have been slashed.
