TLDR Flutter Entertainment will stop trading on the London Stock Exchange on August 3, ending a listing that began in 2000. The company will trade only in New York, where its primary listing has been since May 2024. Flutter shares have fallen nearly 50% this year and about 60% over the past 12 months. Analysts say the delisting is not the main cause of the stock drop; competition from prediction markets like Kalshi and Polymarket is a bigger factor. Legalization of sports betting in new US states has slowed, and some states have raised taxes instead.
Flutter Entertainment will stop trading on the London Stock Exchange at 8am on August 3.
The company’s shares have traded in London since December 2000, when Paddy Power first went public. That link ends this week.
From now on, Flutter will trade only in New York. Its primary listing moved there in May 2024.
The company says the change comes down to cost and low trading volume in London. Keeping two listings was expensive and no longer necessary.
The timing raises questions. Flutter shares are down nearly half this year and about 60% over the last year.
That has cut the company’s market value from over $50 billion last summer to around $19 billion.
Why the Listing Move Isn’t the Real Story
Analysts who spoke with iGB say the London exit is not what caused the stock drop.
One US-based analyst said the pool of investors is bigger in the US anyway. Moving away from London would not change much.
Other gambling companies have made similar moves. Light & Wonder left its dual listing for Australia’s stock exchange after its value fell too.
Ben Robinson of Corfai said the London exit was more symbolic than financial. He said Flutter likely will