{"id":270911,"date":"2023-04-27T14:49:44","date_gmt":"2023-04-27T19:49:44","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=270911"},"modified":"2023-04-28T12:00:46","modified_gmt":"2023-04-28T17:00:46","slug":"flutter-us-listing-plan-overwhelmingly-approved-by-investors","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/flutter-us-listing-plan-overwhelmingly-approved-by-investors\/","title":{"rendered":"Flutter Wins Shareholder Support for New York Stock Listing"},"content":{"rendered":"

Flutter Entertainment (OTC: PDYPY) investors have overwhelmingly supported a plan by the Irish sportsbook operator to pursue listing its shares in New York.<\/p>\n

\"Flutter
The Flutter logo at a corporate office. Investors approved a plan to list the shares in the US. (Image: The Independent<\/em>)<\/figcaption><\/figure>\n

At the gaming company\u2019s annual meeting on Thursday, 99.99% of investors voted in favor of a US equity listing for the operator. Former Kellogg CEO John Bryant<\/a> was also approved as Flutter\u2019s new chairman of the board. He\u2019s also a director at Coca-Cola Europacific Partners Plc, Ball Corporation, and Macy\u2019s Inc.<\/p>\n

\n

Likely prompted by the exponential growth of FanDuel, which is the largest online sportsbook operator in the US, Flutter said in February<\/a> it would consult with investors regarding a New York listing. Under the company\u2019s bylaws, 75% of investors needed to vote in favor of that move to make it possible.<\/p>\n<\/div>\n

Flutter, which owns 95% of FanDuel, could list its shares in the US as soon as the fourth quarter. The Paddy Power owner didn\u2019t reveal if its stock will be traded on the Nasdaq or the New York Stock Exchange (NYSE). DraftKings (NASDAQ: DKNG), the nearest publicly traded comparison to FanDuel, trades on the Nasdaq.<\/p>\n

Flutter Leaving London?<\/h2>\n

At the annual meeting, Flutter told investors that when it moves forward with a US stock listing, it will remain headquartered in Dublin.<\/p>\n

\n

However, there\u2019s speculation that the Betfair owner\u2019s pursuit of a New York share listing<\/a> will spark a flight of companies from London, potentially diminishing the potency of what\u2019s long been the financial hub of Europe. In the US, Flutter currently trades over the counter, with its primary equity listing residing on the London Stock Exchange (LSE) where it\u2019s a member of the FTSE 100 Index.<\/p>\n<\/div>\n

The gaming company noted it\u2019s possible that in the future, its primary listing could shift to New York. In the wake of venture investor Softbank deciding to list UK-based semiconductor maker Arm Holdings in New York over London, UK financial market observers are increasingly concerned the LSE will miss out on big-name listings.<\/p>\n

It\u2019s believed at least one other company is planning to drop its London listing for New York, and several other firms are reportedly considering similar moves.<\/p>\n

US Listing Makes Sense for Flutter<\/h2>\n

With FanDuel controlling approximately half the US mobile sports wagering market, and ranking as the third-largest online casino operator, its brand recognition in this country is high, making the decision to list shares here practical.<\/p>\n

\n

Beyond that, Flutter will gain the benefits of increased access to capital and a broader investor base, including institutional and retail<\/a> market participants. Flutter\u2019s New York listing could also dampen shareholder demands to spin off a part of FanDuel. The company said such a transaction would take a backseat to the US listing.<\/p>\n<\/div>\n

With a current market capitalization of $35.27 billion, Flutter would be the second-largest gaming company trading in the US, trailing only Las Vegas Sands (NYSE: LVS). Flutter would be, by far, the biggest sports wagering\/iGaming equity listed in New York, as its market value is more than triple that of rival DraftKings.<\/p>\n","protected":false},"excerpt":{"rendered":"

Flutter Entertainment (OTC: PDYPY) investors have overwhelmingly supported a plan by the Irish sportsbook operator to pursue listing its shares in New York. At the gaming company\u2019s annual meeting on Thursday, 99.99% of investors voted in favor of a US equity listing for the operator. Former Kellogg CEO John Bryant was also approved as Flutter\u2019s […]<\/p>\n","protected":false},"author":46,"featured_media":196458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,1074],"tags":[81903,81931,80968],"acf":[],"yoast_head":"\nFlutter US Listing Plan Overwhelmingly Approved By Investors<\/title>\n<meta name=\"description\" content=\"Flutter shareholders easily approve plan to list stock in the US.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/flutter-us-listing-plan-overwhelmingly-approved-by-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Flutter US Listing Plan Overwhelmingly Approved By Investors\" \/>\n<meta property=\"og:description\" content=\"Flutter shareholders easily approve plan to list stock in the US.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/flutter-us-listing-plan-overwhelmingly-approved-by-investors\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-27T19:49:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-28T17:00:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/flutter.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1240\" \/>\n\t<meta property=\"og:image:height\" content=\"700\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/flutter-us-listing-plan-overwhelmingly-approved-by-investors\/\",\"url\":\"https:\/\/www.casino.org\/news\/flutter-us-listing-plan-overwhelmingly-approved-by-investors\/\",\"name\":\"Flutter US Listing Plan Overwhelmingly Approved By Investors\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/flutter-us-listing-plan-overwhelmingly-approved-by-investors\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/flutter-us-listing-plan-overwhelmingly-approved-by-investors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/flutter.jpg\",\"datePublished\":\"2023-04-27T19:49:44+00:00\",\"dateModified\":\"2023-04-28T17:00:46+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Flutter shareholders easily approve plan to list stock in the US.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/flutter-us-listing-plan-overwhelmingly-approved-by-investors\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/flutter-us-listing-plan-overwhelmingly-approved-by-investors\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/flutter-us-listing-plan-overwhelmingly-approved-by-investors\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/flutter.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/flutter.jpg\",\"width\":1240,\"height\":700,\"caption\":\"The Flutter logo at a corporate office. 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