Flutter Entertainment finalizes plans for U.S. listing
- Flutter Entertainment to list on the New York Stock Exchange
- Simultaneously delisting from Euronext Dublin
- NY Stock Exchange listing expected in Q1 2024
- Company aims to minimize regulatory complexities
- Cancellation of Dublin listing will not affect FTSE 100 membership
- Third-quarter revenue rose 8% to £2.04 billion
- Gaming revenue increased by 22% YoY
- Average monthly player numbers rose by 16%
- U.S. revenue rose 12% to £668 million
- U.K. and Ireland revenue rose 11% to £566 million
- Australia revenue dropped by 18%
- CEO expects strong Ebitda growth in the U.S. in 2024 and beyond
Flutter Entertainment, the FTSE 100 gambling and betting group, has announced its decision to list its shares on the New York Stock Exchange (NYSE) while simultaneously delisting from Euronext Dublin. The company expects the NYSE listing to be effective in the first quarter of 2024. This move is aimed at minimizing regulatory complexities, and as a result, Flutter Entertainment has decided to cancel its Dublin listing. The cancellation will not impact the company’s membership in the FTSE 100. In the third quarter, Flutter reported an 8% increase in revenue, reaching £2.04 billion. This growth was driven by a 22% rise in gaming revenue and a 16% increase in average monthly player numbers. While U.S. revenue rose by 12% to £668 million, U.K. and Ireland revenue increased by 11% to £566 million. However, Australia revenue experienced an 18% decline. Looking ahead, Flutter Entertainment’s CEO, Peter Jackson, expects strong Ebitda growth in the U.S. in 2024 and beyond.
Public Companies: Flutter Entertainment (N/A)
Private Companies: undefined, undefined
Key People: Peter Jackson (Chief Executive Officer)
Factuality Level: 8
Justification: The article provides factual information about Flutter Entertainment’s plans to list in the U.S., delist from Euronext Dublin, and maintain its membership in the FTSE 100. It also includes specific figures on the company’s third-quarter revenue and revenue growth in different regions. The CEO’s statement about the company’s profit margins expanding in the U.S. is presented as a quote.
Noise Level: 7
Justification: The article provides information about Flutter Entertainment’s plans to list in the U.S. and delist from Euronext Dublin. It also includes financial data on the company’s third-quarter revenue and revenue growth in different regions. However, the article lacks in-depth analysis, scientific rigor, and actionable insights. It mainly focuses on the company’s decisions and financial performance without exploring the consequences or providing a broader context.
Financial Relevance: Yes
Financial Markets Impacted: The news article pertains to the financial markets as it discusses Flutter Entertainment’s plans to list its shares on the New York Stock Exchange and delist from Euronext Dublin. This decision will impact the company’s stock trading and potentially attract new investors in the U.S. market.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The news article does not describe any extreme event. It focuses on Flutter Entertainment’s listing plans and financial performance.
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