Flutter Entertainment, the owner of Ireland’s largest betting company Paddy Power, has announced that it is moving its main listing from London to the US. This became known on January 29, when the company’s shares began trading on the New York Stock Exchange.
On the same day, the gambling company’s shares delisted in Dublin but retained a premium position on the London exchange until the end of 2024. In New York, the assets are already showing slight gains in value.
The company believes the NYSE is the best place to attract investors and the transition should be made as soon as possible. Flutter shareholders will vote at a general meeting on May 1. If the proposal is approved, the primary listing will move to the NYSE in June-July 2024.
Gamblers and sports betting enthusiasts in Ireland are in no danger – they will still continue to receive the full range of services in the gambling entertainment industry. However, thanks to the new step in the development of the gambling company, Paddy Power can become even better, although even now the bookmaker is the undisputed leader in Ireland.