"Flutter Makes NYSE Debut, Rivaling DraftKings in US Sports Betting Boom"
TL;DR Summary
Flutter, the parent company of FanDuel, has listed on the NYSE as a secondary listing, aiming to challenge DraftKings in the U.S. sports betting market where FanDuel leads in market share. Flutter's move seeks to access deeper capital markets and make itself more accessible to U.S. investors. Analysts believe the listing could be a short-term catalyst for Flutter, with Jefferies estimating a 20% premium to DraftKings' valuation due to FanDuel's sustained market share outperformance. The sports betting industry in the U.S. is estimated to be a $37.5 billion total addressable market.
- FanDuel parent Flutter lists on the NYSE, challenging DraftKings as sports-betting pure play CNBC
- Flutter Stock Edges Higher in New York Trading Debut MarketWatch
- FanDuel owner Flutter lists in New York amid US gambling boom The Guardian
- Online betting firm Flutter to propose New York primary listing at annual meeting Yahoo! Voices
- Flutter Stock to List on NYSE Today. U.S. Is ‘Natural Home’ for Shares. Barron's
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
2 min
vs 3 min read
Condensed
78%
408 → 91 words
Want the full story? Read the original article
Read on CNBC