Flutter shareholders approve US listing

Finance News

Flutter Entertainment has received approval from shareholders to pursue, as a second step, a primary stock market US listing.

These benefits include access to much deeper capital markets and to new US domestic investors, it added.

Flutter said it will aim to implement the additional US listing during the final quarter of 2023. Besides being listed on the Main Market of the London Stock Exchange, where it is a FTSE 100 constituent, Flutter already is traded on the New York-based over-the-counter market.

Speaking to reporters following the AGM, the company’s outgoing Chairman reaffirmed the firm’s commitment to Ireland, despite the shift towards the US.

“In terms of Ireland Inc, nothing changes from a business point of view,” said Gary McGann.

“The company will be headquartered here, tax domiciled here, continue to have the head office here and it is business as usual. This is a capital markets move rather than a business move.”

However, Mr McGann said he could not guarantee that Flutter will maintain its secondary listing on Euronext Dublin, even though it wants to.