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Flutter to start shareholder consultation on additional US listing

Flutter's US business, FanDuel, is the leading operator in the US with over 40% market share
Flutter's US business, FanDuel, is the leading operator in the US with over 40% market share

World's top online betting firm Flutter Entertainment has said it would start consulting shareholders for a US listing.

Flutter's shares are currently traded in London and Dublin.

The company's plan for a listing in the United States comes at a time when its market-leading US FanDuel business has become the group's largest in revenue terms.

"The board has reached a preliminary view that an additional US listing of Flutter's ordinary shares will yield a number of long-term strategic and capital market benefits," the company said in a statement.

Flutter said the benefits of the additional listing include access to much deeper capital markets and important US indices.

The Dublin-based group, which owns Paddy Power, said it expected to start shareholder consultation immediately and in the event of broad support from shareholders and this step would take precedence over any plans to list a small stake in FanDuel.

Shares in the firm rose as much as 4% following the news.