FanDuel Parent Company Lists on New York Stock Exchange
FanDuel's parent company Flutter joined the New York Stock Exchange on Monday, hailing it as a "pivotal moment".
The company enjoys the largest market share in the explosive U.S. sports betting sector.
Flutter generated sales of £3.6bn ($4.59bn) in the US last year – up from £191m ($243m) in 2018, when the US supreme court struck down a decades-old law that prohibited sports betting across much of the country.
“With our NYSE listing effective today, this is a pivotal moment for the group as we make Flutter more accessible to US-based investors and gain access to deeper capital markets,” Flutter CEO Peter Jackson said.
New York Patriots great Rob Gronkowski helped usher in the momentous occasion.
here’s rob gronkowski doing a gronk spike outside the new york stock exchange to celebrate fanduel parent company flutter’s dual-listing on the nyse today pic.twitter.com/oejGEnOsJ6
— Prince Grimes (@pgprincej) January 29, 2024
The Dublin-based company was already listed on the London Stock Exchange.
Five years ago, the group (then known as Paddy Power Betfair) relied on the US for about 10% of its business; by last year, the market was responsible for almost 40% of its sales.
Flutter recently acknowledged in its filing that “social responsibility concerns” could “significantly influence the regulation of online betting and iGaming and impact responsible gaming requirements, could result in investigations and litigation, and may adversely impact our reputation.”
- Aaron Goldstein, Gambling911.com
