Flutter Entertainment has provide a preliminary update on full-year trading. Paddy Power owner Flutter has filed its formal registration statement with the Securities and Exchange Commission in the US in advance of its shares listing in New York on January 29.

Flutter, the largest online gambling group in the world, launched services in Vermont last week as the state became the latest to legalise sports gambling. Flutter is now operating in 21 US states.

Peel Hunt upgraded Flutter to a ‘buy’ rating soon after, suggesting a dip in the betting firm’s share price since plans for a dual-listing were announced last February had seen “initial excitement” overcome.

Ultimately, the Paddy Power and Sky Bet owner has planned the move to New York as its American asset base, including through sports book operation FanDuel, grows.