Flutter Entertainment to assess London Stock Exchange listing

(AsiaGameHub) –   The Dublin-headquartered gambling operator may completely remove Flutter shares from the London Stock Exchange.

UK.- Flutter Entertainment is reevaluating its position on the London Stock Exchange, less than two years after relocating its primary listing to the New York Stock Exchange. The company, based in Dublin and operating under brands such as FanDuel, PokerStars, Paddy Power, and Sky Bet, has been publicly traded on the LSE since Betfair’s £1.4 billion initial public offering in 2010.

In its first-quarter 2026 financial update, the firm announced that it is assessing the future of its shares listed on the London exchange, as the United States continues to represent a growing share of its business.

It stated in a release: “We are conducting a review of our ordinary shares currently listed on the London Stock Exchange… The outcome of this review could lead to the delisting of Flutter’s ordinary shares from the LSE.”

“The review is expected to conclude during the second quarter of 2026, and shareholders will be notified accordingly. The continued listing of Flutter ordinary shares on the NYSE will not be affected by any potential cancellation of the LSE listing.”

In January 2024, Flutter removed its secondary listing from the Irish Stock Exchange (Euronext Dublin) and began trading on the New York Stock Exchange. Four months later, at the end of May 2024, the company shifted its main listing from the LSE to the NYSE—a move designed to more accurately reflect the growing significance of its FanDuel operations.

Q1 results showed Flutter’s quarterly revenue rose 17 per cent year-on-year to $4.3 billion (€3.6 billion). The U.S. market contributed 41 per cent of total revenue, amounting to $1.76 billion, while UK operations are now facing heightened tax obligations due to the increase in Remote Gaming Duty effective April 2026.

With U.S. investors increasingly dominating the shareholder base, a delisting from London may represent a logical next step. Six out of its nine largest investors are based in the United States; however, London-based Parvus Asset Management recently increased its holdings to 10.7 per cent. Kenneth Dart, a U.S.-born billionaire residing in the Cayman Islands, now holds over 25 per cent of the company, which is also nearing completion of a $250 million share buyback as part of a broader $5 billion repurchase initiative.

During the last quarter, Flutter underwent several leadership changes: Amy Howe, former CEO of FanDuel, was succeeded by Christian Genetski, and Dan Taylor, head of Flutter International, assumed the newly established role of President of Flutter Entertainment.

The LSE has seen several prominent companies depart in recent years, including fintech firm Wise, which moved its primary listing to the U.S., and travel group TUI, which relocated to Frankfurt.