Flutter Entertainment, a prominent player in the global gambling industry, has confirmed its decision to delist ordinary shares from Euronext Dublin, marking a strategic move towards a dual listing on the London Stock Exchange (LSE) and the New York Stock Exchange (NYSE). This development aligns with the company’s goal to simplify operations and reduce regulatory complexities, ultimately enhancing its global market presence.
Delisting from Euronext Dublin:
Flutter Entertainment is set to delist its ordinary shares from Euronext Dublin on Monday, January 29, 2024, at 8:00 am (GMT). This decision comes after the company’s announcement in early December, expressing its intent to focus on dual listings in London and New York.
Strategic Shift to Dual Listing:
Flutter’s strategic decision to maintain dual listings on the LSE and NYSE reflects a broader effort to streamline its operations. By consolidating its listings, the company aims to navigate regulatory landscapes more efficiently, fostering a conducive environment for sustained growth.
US Listing and NYSE Debut:
Pending the effectiveness of its Form 20-F Registration Statement with the US Securities and Exchange Commission (SEC), Flutter Entertainment is poised to commence trading on the NYSE from January 29, 2024. This move positions Flutter for increased visibility and accessibility in the dynamic US market.
Shareholder Approval for Settlement System Migration:
To facilitate trading on the NYSE, Flutter successfully obtained shareholder approval for the migration of its ordinary shares’ settlement system from Euroclear Bank to the Depository Trust Company. This crucial step underscores the company’s commitment to meeting the necessary requirements for the US market.
Financial Performance: Q4 Trading Update:
Concurrent with these strategic moves, Flutter released a provisional trading update for the fourth quarter, revealing a noteworthy 15% increase in overall revenue. This positive financial performance signals the company’s resilience and adaptability in a competitive industry landscape.
In summary, Flutter Entertainment’s decision to delist from Euronext Dublin and pursue dual listings on the LSE and NYSE underscores its commitment to strategic growth and operational efficiency. With a successful track record and a positive Q4 trading update, the company positions itself for further success in both the European and US markets. As Flutter takes this significant leap, investors and industry observers will be closely monitoring its performance on the global stage.