- Flutter, the parent company of FanDuel, will be making a move to gain a listing in the North American stock market.
- The move comes after a shareholder meeting saw overwhelming support for the company to branch out.
- Year-over-year FanDuel has quickly grown to encapsulate a very large share of the betting market and will only look to ramp that up.
DUBLIN – Big news out of Ireland has come in the form of a confirmed move for the parent company of industry giant FanDuel into North American stock markets. As of now, the rumored potential destinations include the New York Stock Exchange and the NASDAQ.
With Flutter increasingly looking to grow FanDuel after seeing its massive success in the states, this move was a no-brainer and was almost unanimously supported by shareholders. With the prospects of legalization around the country trending upwards, FanDuel will look to be heavily involved in the ever emerging legal sports betting market.
Flutter Aims for Greater Emphasis of FanDuel
As it currently stands, Flutter is already listed on the London Stock Exchange and is the owner of FOX Bet and Betfair in addition to FanDuel. Following the company’s annual shareholder meeting, a whopping 99.9% of votes were in favor of the move to an American stock exchange.
Some expectations are that eventually Flutter will vacate the London Stock Exchange and solely remain in North America, but no plans have been announced at this time and the shareholder vote specified that the inclusion in another stock exchange was additional to their current standing in London.
Year-over-year FanDuel has seen an explosion of growth both in revenue and player base. Between 2021 and 2022, the company welcomed in over two million monthly average players and saw its revenue balloon up 27%. With all this success, they have managed to capture around 50% of the total betting market and will look to continue the growing trend.
Flutter is further expecting that FanDuel will become its crown-jewel and lead all their hefty portfolio of companies in revenue as well as overall value in the future.
With the ever-increasing betting market coming as a result of more and more states legalizing sports betting, FanDuel will be an instrumental player in the further growth of the industry across the country. While FanDuel is the legal sportsbook taking the most money in 15 states, they will still need to proliferate into states.
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Jeremias is a current Florida State University student majoring in Editing, Writing and Media as well as Media/Communication studies. Primarily focused on the NFL, NBA, and NHL, Jeremias has a passion for sports statistics research that helps bettors find the blind spots in sportsbooks.