The tease continues at Flutter, the FTSE 100 gambling firm that used to call itself Paddy Power Betfair. Having won backing from shareholders in April for a secondary listing for its shares in the US, it has now picked a venue – the New York Stock Exchange – but continues to drop hints that London shouldn’t count on retaining the primary (and more important) listing forever. “The group may pursue a primary listing in the US in due course,” said Thursday’s update.
Few would dispute that it makes sense for Flutter to get itself hooked up to the US in some form. From next to nothing a few years ago, the liberalising US market will contribute £3.8bn out of £9.7bn of group revenues this year, according to City consensus forecasts, and the proportion will only increase.
