The parent company of FanDuel, Flutter Entertainment, has decided to delist from Euronext Dublin, Ireland’s stock exchange, as part of its strategy to add a New York listing in the first quarter of 2024. The move comes amid regulatory considerations and technical challenges in maintaining the company’s Dublin listing.
While Flutter plans to remain listed on the London Stock Exchange, it has opted to delist from Euronext Dublin. The decision is rooted in the desire to streamline operations and facilitate easier regulatory compliance. The company stated it preferred to maintain a listing in Ireland but cited challenges and technical difficulties that hindered the retention of its Dublin listing.
Flutter’s decision to gradually shift its focus away from Europe comes amidst a series of setbacks on the Old Continent. While the gaming giant’s UK & Ireland division showed an 11.2% year-on-year revenue increase, reaching $566 million, the region’s uncertain regulatory landscape has impacted the company’s operations, causing significant concern.
Flutter has had significantly more success in the USA, as Q3 results revealed robust growth. The company’s US-facing operations saw revenues of £668 million ($820.2 million), up year-over-year by 12%. New York was one of Flutter-owned FanDuel’s most successful jurisdictions, as it became the first state to surpass the $2 billion handle mark.
Other highlights of Flutter’s latest trading update included the successful acquisition of a 51% stake in MaxBet, a leading betting and gaming operator with a presence in Serbia. This move signifies that despite Flutter’s increasing focus on the USA, the company will maintain its foothold in its core markets and continue investing in promising European jurisdictions.
The move to delist from Euronext Dublin and seek a New York listing aligns with Flutter’s broader vision and ongoing efforts to navigate the dynamic landscape of the global gambling industry. The company has maintained impressive momentum, but rising industry challenges have forced it to adapt and reconsider its priorities.