Flutter Shifts Primary Listing to NYSE, Promotes New CFO
In a significant strategic move, Flutter Entertainment, the world’s largest online betting company and owner of FanDuel, has officially transferred its primary listing to the New York Stock Exchange (NYSE). Flutter also announced the appointment of Rob Coldrake as CFO, marking a pivotal moment in the company’s evolution as it heightens its focus on the promising US market.
The US Market Remains a Primary Focus
Since February 2023, Flutter has been actively engaging with US investors, existing and potential, as well as shareholders globally. The feedback has been highly supportive, prompting Flutter to shift its primary listing to the United States. The initial step in this process was completed on 29 January 2024, with the additional listing of Flutter’s ordinary shares on the NYSE.
Earlier this month, Flutter shareholders overwhelmingly endorsed the shift during the Annual General Meeting in Dublin. This decision follows the company’s delisting from the Irish stock exchange, Euronext Dublin, earlier this year. Flutter CEO Peter Jackson remarked on this groundbreaking milestone, highlighting the rising importance of the US market to the business.
We have a fantastic position in the US, with FanDuel the clear number one operator, and we look forward to this next step on our journey.
Peter Jackson, Flutter Entertainment CEO
The US primary listing is widely regarded as a natural fit for the group, reflecting the substantial opportunities within this expanding market. As more states legalize iGaming and online sports betting, Flutter remains primed to leverage its leading FanDuel brand to capitalize on new opportunities, pull ahead of competition, and achieve lasting value.
Flutter’s New CFO Has a History of Success
In tandem with its strategic shift, Flutter Entertainment announced the appointment of Rob Coldrake as the new group chief financial officer, effective immediately. He succeeds Paul Edgecliffe-Johnson, who is stepping down due to the extensive time required in the US and his family commitments in the UK. Coldrake, previously the chief financial officer of Flutter International, joined the group in 2020.
Coldrake’s career includes 14 years at hospitality company TUI in various financial roles, giving him substantial experience and honing his leadership skills. CEO Jackson lauded the new CFO’s exceptional expertise, highlighting Coldrake’s significant contributions during his time with Flutter. As Coldrake steps into his new position, he must help maintain Flutter’s trajectory, continuing the work of his predecessor.
I am delighted that Rob will become our next group CFO. His skills and experience will help us to take advantage of the significant opportunities before us.
Peter Jackson, Flutter Entertainment CEO
With its new listing on the NYSE and a seasoned CFO at the helm, Flutter Entertainment is well-positioned to capitalize on the dynamic opportunities in the burgeoning US sports betting and iGaming market. Analysts maintain their positive outlook regarding the gaming giant, highlighting the positive impact of recent developments as the company gears up for sustained growth.
