Flutter Shareholders Expected to Greenlight US Listing

Earlier this year, Flutter Entertainment, the global gaming and entertainment company, announced its plans to consult with its shareholders for an additional US listing. Currently, the company is listed on the London Stock Exchange. However, considering the growth of FanDuel in the US, it sought to consult its shareholders on whether or not to engage in an additional listing for the US.

Upon announcing its plans, Flutter said that the decision requires the approval of 75% of the shareholders, either by proxy or in person. At the time, the company explained that the topic would be discussed within its Annual General Meeting set for April 27, 2023.

Now, a new report released by Sky News, citing people close to the matter, reveals that the approval of the investors for Flutter’s US listing may be imminent. Reportedly, the company has won the approval of the shareholders for an additional listing. A majority of the shareholders favored the strategic move and what’s left is for Flutter to officially reveal the decision. This is reportedly expected to happen Thursday.

“The resolution comprises a number of changes to Flutter’s articles of association necessary to facilitate the additional US listing. Accordingly, the resolution requires the approval of 75% of the votes cast by Flutter shareholders in person or by proxy,“

reads a statement released by Flutter Entertainment

The Company Plans to Strengthen Its Senior-Level Team

Although the initial pitch involved an “additional listing,” it remains unclear what Flutter will decide for its London Stock Exchange listing. Whether or not the company will keep that listing remains to be confirmed. With that in mind, if Flutter’s shareholders officially greenlight the US listing, its implementation is expected later this year.

Although the company said that the implementation of the new listing is expected in Q4 2023, a solid confirmation will likely be given following the company’s General Meeting. Ultimately, the new listing is expected to bring long-term benefits for Flutter.

“On 14 February 2023 Flutter announced it would be consulting with shareholders on an additional US listing of the Group’s ordinary shares and set out the long-term strategic benefits,“

explained Flutter in February

The recent report reveals that besides the approval of the listing of Flutter’s shareholders, the company is also expected to appoint John Bryant for the role of chairman. He currently has US and Australian nationality and holds the role of senior independent director with Compass Group. Bryant is a seasoned expert with significant experience in multiple sectors after being a part of globally recognized businesses.