The company is the owner of Paddy Power and Betfair

Flutter considering spinoff and IPO of U.S. betting unit FanDuel

Shares in Flutter were 6.3% higher in London on Monday morning - the best performer in the FTSE 100 - at 16,790.00 pence each.
2021-03-15
Reading time 45 seg
Flutter Entertainment said it is looking at options for its U.S. sports betting business FanDuel, including an IPO, the U.K.-based mobile gaming company said in a statement.

Ireland-based Flutter Entertainment said in a statement on Monday that it was considering listing "a small shareholding in FanDuel" in the US but stressed that "no decision has been made at this time." 

The London-listed bookmaker confirmed the television news report, according to several other media reports, saying in a statement: "Flutter regularly evaluates its organisational and capital structure to assess how best to position itself to deliver upon the group's strategy.

"Options including the listing in the US of a small shareholding in FanDuel are being considered but no decision has been made at this time. Should a decision be made to proceed with a listing in due course, an announcement will be made as appropriate."

CNBC said the stake held by Fox Sports in FanDuel is a complicating factor that may delay any  spinout, citing people familiar with the matter. Flutter owns 95% of FanDuel. Fox Sports has a 2.5% stake in FanDuel with an option to buy an additional 19% in July.

Leave your comment
Subscribe to our newsletter
Enter your email to receive the latest news
By entering your email address, you agree to Yogonet's Condiciones de uso and Privacy Policies. You understand Yogonet may use your address to send updates and marketing emails. Use the Unsubscribe link in those emails to opt out at any time.
Unsubscribe
EVENTS CALENDAR