Global leader in online gaming, Flutter Entertainment is about to strengthen its US commitment. Flutter, the home of global flagship brands such as PokerStars, Betfair and FanDuel is preparing to list at either the New York Stock Exchange or the Nasdaq this year, pending shareholder’s approval.
The decision to pursue the US market was explained by strong performance of its US FanDuel business, which generated the greatest earnings of any of the company’s operations.
According to the firm, its board has reached a preliminary conclusion that an additional US listing of Flutter’s ordinary shares will generate a variety of long-term strategic and capital market benefits.
The firm also discussed the benefits of increasing its listings: this strategic step would allow Flutter to obtain access to the capital markets on a whole new level, as well as access to some of the most important US indices. In the future, the major listing may be relocated to the United States, resulting in enormous earnings for the company.
Official vote on the issue will take place during the company’s annual meeting in April. In order for the expansion to be approved, 75% of the board members must vote in favor of it.
When it comes to this expansion, everyone has great aspirations. The business stated that it will begin shareholder consultations as soon as possible. The firm received tremendous support from its shareholders, as evidenced by a 4% increase in the company’s stock price after the plans were publicized.
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