Flutter Entertainment to delist from London Stock Exchange in August

Flutter Entertainment said it would cancel its London stock listing in August, keeping only its New York Stock Exchange listing. The decision is the latest blow to the UK exchange as more companies leave or downgrade their London presence.

The owner of FanDuel and Paddy Power called the move in the best interests of shareholders, without offering further detail. Flutter will continue to trade on the NYSE, where it shifted its primary listing in 2024 after leaving Euronext Dublin.

The betting giant, the world's largest online gambling firm by revenue, has been refocusing on the US market, where FanDuel holds a leading share in sports betting. The New York listing gives it access to deeper capital pools and a higher valuation multiple than London offered, analysts have noted.

Flutter joins a growing list of companies that have scrapped or scaled back London listings. CRH, the building materials group, moved its primary listing to New York in 2023. Tui, the travel operator, left the London market in 2024. Other firms have shelved IPO plans in London entirely, citing cheaper valuations and thinner liquidity.

The trend has drawn criticism from UK policymakers, who worry about the exchange's shrinking relevance. The London Stock Exchange has taken steps to attract listings, including looser rules for special purpose acquisition companies and a new listing regime designed to lure tech firms. So far the measures have not reversed the outflow.

Flutter's Alpha Score stands at 28 out of 100, flagged as Weak. The proprietary metric weighs fundamental health against valuation and momentum. A score below 30 indicates higher risk of underperformance, though it does not predict short-term price direction.

The delisting itself will not change how Flutter operates. Trading volumes in London had already dried up since the primary listing moved to New York. The decision formalises a shift that was already under way.

Flutter's next quarterly report is due in August, the same month the delisting is expected to take effect. Investors holding London-listed shares will be able to convert them into NYSE-traded shares through the broker, Flutter said.