Flutter to scrap London listing, leaving New York as sole venue in fresh blow to UK markets

The decision

Flutter Entertainment announced on Friday that it plans to delist from the London Stock Exchange, leaving New York as its sole listing venue. The company, which owns brands including FanDuel, Paddy Power, Betfair, PokerStars and SkyBet, said the move was in the best interests of its shareholders.

It is in the best interests of the company and its shareholders to proceed with the LSE delisting.

The betting giant had already shifted its primary listing from London to the New York Stock Exchange in 2024, but kept a secondary listing in the UK. The review launched in May, prompted by tepid trading activity and the additional cost and regulatory burden of maintaining the London quote, led to Friday's final call.

Timeline

Flutter began trading in New York in January 2024, moving its primary listing there as the US became its most important market. The review was disclosed to shareholders in May 2026, and the delisting was confirmed on 12 June. The last day of trading in London is expected to be 31 July, with the official delisting taking effect on 3 August.

London's dwindling appeal

Flutter is the latest in a series of companies to leave the London market or downgrade their UK listings. Fintech firm Wise switched its primary listing to Nasdaq last year, while equipment group Ashtead also moved to the US, attracted by larger pools of capital and deeper liquidity. The departures come as the UK government tries to reform listing rules to revive the City's status.

Handelsblatt reported that London has been hit by turbulence linked to the Iran war, and that the FTSE 100's market capitalisation of about £2.4 trillion ($3.21 trillion) lags far behind the S&P 500's $63 trillion.

American anchor

Flutter generates 42% of its revenue in the United States, making it the group's biggest market. The company is valued at almost £15 billion and has been expanding rapidly through its FanDuel brand. The shift to a sole New York listing reflects both the concentration of its business and the pull of deeper American capital markets.