Flutter Entertainment moved its primary listing to the NYSE, CFO Edgecliffe-Johnson steps down

Top sports betting brands in the US like FanDuel are owned by international online sports betting and iGaming operator, Flutter Entertainment. Recently, they completed the move of their primary listing of shares from London to New York. At the beginning of May, this proposal was backed by Flutter stockholders. In January, Flutter began trading on the NYSE. Now, the NYSE is their primary listing. It only took roughly three months for that to happen. Flutter CEO Peter Jackson had this to say.

“Today marks an important milestone in the evolution of Flutter with the commencement of our primary listing on the New York Stock Exchange,” said Peter Jackson. “This closely follows the recent move of our operational headquarters to New York, with both reflecting the increasing importance of the U.S. sports betting and iGaming market to our business.”

Flutter is following in the footsteps of what other firms have been doing. They are moving out of European listing and are opting to list their primary share in the US. Valuations are higher in America than they are in other European locations. Despite the US housing Flutter’s primary listing, they continue to trade on the London Stock Exchange.

Why did Flutter’s CFO step down?

With Flutter Entertainment moving to the NYSE, CFO, and executive director Paul Edgecliffe-Johnson has stepped down from his role. With that, Rob Coldrake has been named the new CFO, effective Friday, May 31, 2024. Now that Flutter has an increased role overseas, they need to stay on top of it all. Coldrake should have a seamless transition for Flutter as he’s been their international CFO for the last four years. CEO Peter Jackson is thrilled to have Coldrake as their new CFO. He’s proved to be an asset for their team in the past and his duties are only going to grow in this new role. 

The US betting market is one of the biggest revenue generators for Flutter. Their most profitable sportsbook is FanDuel. Flutter also owns Betfair, Paddy Power, PokerStars, Sky Betting & Gaming, and Sportsbet. Before making the move to the NYSE as their primary listing, Flutter polled their stockholders. An overwhelming 98% said they supported the move to the NYSE. On Thursday, shares closed at $187.90.