Flutter Entertainment Plc, the parent company of FanDuel, is gearing up for a New York Stock Exchange (NYSE) listing in the first quarter of next year, following approval from its shareholders. The Dublin-based company will concurrently delist from Euronext Dublin, marking a significant shift in its trading platform.
The firm has finalized its application with the Securities and Exchange Commission (SEC), setting the stage for its anticipated debut on the NYSE. This move is expected to enhance Flutter's talent acquisition and capital resources.
In its most recent financial update, Flutter reported third-quarter revenues of £2.04 billion ($2.5 billion), falling slightly short of the predicted average of £2.15 billion. The company's earnings from sports betting have been impacted by predictable sports outcomes that have proven more beneficial to bettors than bookmakers.
Looking ahead, the company has projected full-year adjusted earnings of £140 million in the US and £1.44 billion globally. This forecast comes amid an increasingly competitive sports betting landscape, with Flutter's performance closely watched by industry observers and investors alike.
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