Flutter to review London listing
The Dublin-headquartered gambling operator may delist Flutter shares from the LSE completely.
UK.- Flutter Entertainment is reassessing its presence on the London Stock Exchange less than two years after it moved its primary listing to the New York Stock Exchange. The Dublin-headquartered gambling group, whose brands include FanDuel, Poker Stars, Paddy Power and Sky Bet, has been traded in London since Betfair’s £1.4bn flotation in 2010.
In its Q1 2026 update, the company revealed that the company is reviewing the future of its LSE-listed shares as the US continues to account for an increasingly large portion of its business.
It said in a statement, “We are undertaking a review of our London Stock Exchange listed ordinary shares… The conclusion of this review may result in the delisting of Flutter’s ordinary shares from the LSE.
“It is anticipated that this review will be completed during Q2 2026 and an update to shareholders will be provided in due course. The NYSE listing of Flutter ordinary shares will not be impacted by the possible cancellation of the LSE listing.”
In January 2024, Flutter dropped its secondary listing on the Irish Stock Exchange (Euronext Dublin) and launched on the New York Stock Exchange. Four months later, at the end of May 2024, it moved its primary listing to the NYSE from the LSE in a shift intended to better reflect its growing FanDuel business.
Q1 results showed Flutter’s quarterly revenue climbing 17 per cent year-on-year to $4.3bn (€3.6bn). The US market accounted for 41 per cent of revenue at $1.76bn, while UK operations now face increased tax pressure from the rise in Remote Gaming Duty from April 2026.
With US investors increasingly shaping the shareholder base, a London delisting could be the logical decision. Of its nine largest investors, six are US-based, although London’s Parvus Asset Management recently increased its stake to 10.7 per cent. Kenneth Dart, a US-born billionaire based in the Cayman Islands, now holds more than 25 per cent of the company, which is also nearing completion of a $250m buyback, part of a wider $5bn programme
The past quarter saw several leadership changes at Flutter with FanDuel CEO Amy Howe succeeded by Christian Genetski and Flutter International’s Dan Taylor stepping into the newly created role of President of Flutter Entertainment.
The LSE has lost several high-profile names in recent years, including the fintech Wise, which moved its main listing to the US, and TUI, which moved to Frankfurt.
