In order to enhance revenue collection in the United States, Flutter has announced its transfer from the London Stock Exchange to the New York Stock Exchange under the company registration.
Flutter is recognized for its ownership of numerous businesses around the world, with FanDuel being the most prominent. The online sportsbook, headquartered in the United States, is currently a major participant in the industry, holding a 43% market share, according to the company’s fourth-quarter results. Flutter derives a substantial portion of its revenue from the United States market; thus, the decision to transfer to the New York Stock Exchange.
The move follows the company’s exit from the Dublin Stock Exchange, which was announced at the beginning of January and completed with the relocation to New York.
According to the latest betting news, Neil Shah, the Director of Research at Edison Group, stated that the relocation of Flutter’s operations to New York was a significant setback for London. In his opinion, there should have been no surprises given that the Flutter markets in the United States are significantly more lucrative than those in London. He strongly believes that this should serve as a wake-up call for London and its market potential.
A primary factor contributing to this significant shift is the comparative complexity of sports wagering regulations between the United Kingdom and the United States, which are comparatively less stringent and straightforward. The situation is indeed alarming, as companies registered in the UK cease operations and relocate to more lucrative markets, notably the United States. To avoid such a recurrence, the UK must undertake a comprehensive rethinking of all relevant topics.
At the moment, the stock value of Flutter is $208.80. In contrast to the previous day, this represented a growth of 3.3%.
