"Flutter Makes NYSE Debut, Rivaling DraftKings in US Sports Betting Boom"
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.