Shareholders of Flutter will Vote on US Listing Resolution

Shareholders of Flutter will Vote on US Listing Resolution

Flutter Entertainment

At the annual meeting, shareholders will be asked to approve an amendment to Flutter’s articles of association.

Multinational gaming company Flutter Entertainment announced today that its Board of Directors has agreed to present the proposal for an additional US share listing to shareholders at the upcoming annual general meeting (AGM) in April.

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The decision to bring the idea of listing Flutter ordinary shares in the United States to a shareholder vote was made following a period of consultation with the holders of a considerable majority of Flutter Entertainment’s issued share capital, who showed extremely strong support for the proposal.

Enhancing the Market’s Overall Value

As part of its efforts to pursue its long-term strategic objectives, the FTSE-listed gaming and entertainment company said on February 14 that it will seek the opinion of its shareholders on a potential secondary listing of the group in the United States.

In light of the growing significance of FanDuel to the group, as highlighted by the capital markets day in New York on November 16, the Board proposed issuing a small listing in the FanDuel brand in anticipation that this trend is likely to continue and make FanDuel the group’s largest business by revenue and a greater proportion of its overall value.

The directors evaluated the potential secondary listing of the group’s ordinary shares and outlined a number of long-term strategic and capital markets benefits, such as enhancing the group’s profile in the United States, facilitating the recruitment and retention of talent, providing access to new capital markets and investor groups, increasing the overall liquidity of Flutter shares, and the opportunity to pursue a primary US listing under one of the US Indices.

Aiming for a US Listing in the fourth quarter

Acting on the results of the extensive consultation with shareholders representing a significant majority of the group’s issued share capital, the Board will ask shareholders at the AGM on April 27, 2023 to vote on a resolution containing a number of changes to Flutter’s articles of association that are deemed necessary for the US listing.

The resolution must be approved by at least 75% of shareholders voting in person or by proxy in order for the Board to implement the listing of ordinary shares in the United States during the fourth quarter of 2023.Flutter Entertainment reported a 27% increase in sales and a 20% increase in gross profit for the twelve months ending December 31, 2022, with the growth being driven by a 49% increase in its online division.


About Lou De Aguila

Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.