In a note to shareholders, Flutter highlighted the success of its US-facing brand, FanDuel Group. The company expects FanDuel to become its largest business in terms of revenue and value. To support further growth within FanDuel, Flutter is considering an additional US listing of its ordinary shares. This move would bring long-term strategic and capital market benefits, strengthen the company’s profile in the US, facilitate talent recruitment and retention, and grant access to deeper capital markets and US domestic investors.
The potential benefits of the additional US listing include greater overall liquidity in Flutter shares and the possibility of pursuing a primary US listing in the future. The board intends to consult extensively with shareholders before deciding on a formal resolution for approval. The results of the consultation will be announced later.
The proposal follows Flutter’s Q3 results announcement, which revealed that the US market has become its largest market. In Q3, US revenue reached $598 million, marking a year-on-year increase of 114% or 82% on a constant currency basis. This growth was driven by a 106% rise in sports revenue, including sportsbook, exchange, daily fantasy sports, advance deposit wagering, and B2B product verticals. Additionally, US iGaming revenue increased by 36%.
