The global online sports gambling operator will begin listing on the New York Stock Exchange under the ticker FLUT starting this week.
Flutter Entertainment, the Ireland-based parent company of global sports betting brands including FanDuel, Betfair, Sky Betting, and PokerStars, is set to list on the New York Stock Exchange under the FLUT symbol, the company announced Monday.
Flutter is already listed on the London Stock Exchange, but a secondary listing will provide access to the U.S.’ biggest and most liquid capital markets, the company said. FanDuel TV’s “Up & Adams” will broadcast live from the trading floor Monday featuring planned segments with FanDuel CEO Amy Howe and Rob Gronkowski.
In the company’s Q4 earnings report released last week, Flutter boasted FanDuel’s top-ranked 43% gross revenue market share for the quarter with a 51% net revenue share in the U.S. Quarterly revenues in the U.S. rose 26%, propelling full year revenue up 41% to $3.9 billion. Total Flutter revenues eclipsed $12 billion in 2023, a 25% year-over-year increase up from $2.5 billion just four years ago.
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With more U.S. states like Vermont and Maryland recently entering the sports betting market, and the likely chance of others to come, Flutter projects the American sports betting and iGaming market to reach $40 billion in value by 2030 with a further $320 billion in potential future value.
In Q4 2023 alone, the number of average monthly U.S. players grew by more than 4 million, with Flutter investing $55 million in responsible gaming initiatives in the first half of 2023 alone to ensure sustainability and a positive net impact. FanDuel’s partnerships with nearly every major pro sports league provide a strong chance to acquire, retain, and grow its user base on its way, Flutter believes, to become the first sportsbook in the U.S. to achieve profitability for a full year.
Flutter hopes its new NYSE listing will keep the company’s momentum strong as the American market remains a leading region of growth for the industry.
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