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Paddy Power owner Flutter eyes US stock market listing

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Betting giant consulting shareholders before proposing Wall Street move

The US business’s importance to the group is growing as individual states continue to legalise online sports betting.Listen |Flutter’s results are likely to show that Fanduel generated between $2.9 billion and $3.2 billion revenues last year.

Fanduel has a 42 per cent share of the US market and has taken the number one slot in all of the individual states where it has begun trading. Depending on feedback, the group could hold an extraordinary general meeting to vote on the US listing proposal, alongside its regular annual shareholders’ meeting in May.

In a statement, Paddy Power’s owner said the board’s preliminary view was that the move would yield a number of long-term strategic and capital market benefits.

 

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