International edition
October 23, 2021

The company is the owner of Paddy Power and Betfair

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

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.
United States | 03/15/2021

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.

I

reland-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
Newsletter Subscription
Subscribe to receive the latest news and updates
Enter a valid email
Complete the captcha
Thank you for registering to our newsletter.